Publicly traded US outdoor company Columbia Sportswear Company, which owns the brands Columbia, Sorel, Mountain Hardwear and Prana, increased its net sales in the third quarter (ended September 30) by 19 percent (22 percent at constant exchange rates) to a record of Raise $955 million.
Operating income increased 9% to $145.3 million compared to the third quarter of 2021, representing approximately 15.2% of net sales. Net sales growth was led by brands Sorel (footwear) and Columbia, up 28 percent and 19 percent, respectively. The increase in net sales, the company said, primarily reflects earlier delivery of higher wholesale orders from fall 2022 and growth in direct-to-consumer (DTC).
Tim Boyle, Chairman, President and Chief Executive Officer, said, “Our strong balance sheet, balanced global distribution and operational discipline position us to successfully navigate this dynamic environment. I am confident we have the right strategies in place to capitalize on the significant growth opportunities we see across the business.”
Cumulative net sales for the last three quarters increased 15 percent (18 percent at constant exchange rates) to approximately $2.3 billion from approximately $2 billion in the comparable 2021 period. Operating income decreased 1 percent to $237.7 million -dollars or 10.4 percent of net sales. The reason given by the company for this is the increased sales and administration costs, which have risen by 13 percent compared to the previous year.
Due to the good performance, the company confirms the outlook for the full year.