Fourth quarter net sales at Columbia Sportswear increased 23 percent to 1,129.7 million dollars from the comparable period in 2020.
The company said that the increase in net sales primarily reflects strong consumer demand, which fuelled direct-to-consumer (DTC) growth and higher fall 2021 wholesale shipments, as it anniversary prior year pandemic disruptions.
Gross margin expanded 160 basis points to 52.2 percent of net sales from 50.6 percent of net sales for the comparable period in 2020. Operating income increased 71 percent to 211.6 million dollars or 18.7 percent of net sales. Net income increased 64 percent to 157 million dollars or 2.39 dollars per diluted share.
Commenting on the trading update, the company’s chairman, president and chief executive officer Tim Boyle said: “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…
