Columbia Sportswear, an American manufacturer and distributor of outerwear, sportswear and footwear, has forecast 16-18 per cent net sales growth to reach $3.63 to $3.69 billion in fiscal 2022 (FY22) against $3.13 billion that was recorded in fiscal 2021 (FY21). It expects net income to be $359 to $379 million, resulting in diluted earnings per share of $5.50 to $5.80 in FY22.
In the fourth quarter (Q4) of FY21 that ended on December 31, 2021, the company’s net sales increased by 23 per cent to a record $1,129.7 million, compared to Q4 2020. Its operating income increased by 71 per cent to reach $211.6 million in Q4 FY21 corresponding to $123.7 million in Q4 FY20, the company said in a media release.
The company’s diluted earnings per share increased by 66 per cent at $2.39 in Q4 FY21 when compared to $1.44 Q4 FY20. In addition, on January 28, 2022, the board of directors approved a 15 per cent increase to the quarterly dividend to $0.30 per share.
Columbia Sportswear, an American manufacturer and distributor of outerwear, sportswear and footwear, has forecast 16-18 per cent net sales growth to reach $3.63 to $3.69 billion in FY22 against $3.13 billion that was recorded in fiscal 2021. It expects net income to be $359 to $379 million, resulting in diluted earnings per share of $5.50 to $5.80 in FY22.
For FY21, the brand’s net sales increased by 25 per cent to a record $3,126.4 million, compared to FY 2020. Its gross margin expanded 270 basis points to 51.6 per cent from 48.9 per cent of net sales for the comparable period in 2020. The company’s operating income increased by 229 per cent to $450.5 million from $137 million in fiscal 2020-21. Overall, the company’s net income increased by 228 per cent to $354.1 million, or $5.33 per diluted share, compared to net income of $108 million, or $1.62 per diluted share for the comparable period in 2020.
The company’s chairman, president, and chief executive officer Timothy Boyle, said, “Fourth quarter and full-year financial results were exceptional. Record financial performance reflects the strength of our brands and the tremendous efforts and resilience of our employees globally. In the quarter, robust consumer demand led to results that far exceeded our financial outlook driven by DTC outperformance and a highly favourable full-price selling environment, which benefited gross margin. Throughout the season, our Fall 2021 sell-through rates have been outstanding, including the successful global launch of Omni-Heat Infinity.”
Boyle further added, “As we begin 2022, we are acutely focused on unlocking the growth opportunities we see across the business while mitigating supply chain and inflationary pressures. Our powerful brand portfolio is well-positioned to connect active people with their passions and capitalize on the popularity of outdoor activities. Our 2022 outlook calls for 16 to 18 per cent net sales growth, on top of 25 per cent growth in 2021.”
Columbia Sportswear company repurchased 1,655,407 shares of common stock for an aggregate of $165.9 million, at an average price per share of $100.23 during the year, while $316.3 million remained available under its current stock repurchase authorisation as of December 31, 2021.
Fibre2Fashion News Desk (SF)
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Originally posted 2022-02-07 10:35:04.