Fewer footwear sales at Columbia Sportswear
Columbia Sportswear Company has reported net sales of $333.1 million for the quarter ended March 31, almost flat with sales for the same period in 2011.
First quarter net income totalled $3.9 million, including restructuring charges of approximately $2.8 million, compared with net income of $12.8 million during the same period in 2011.
First quarter apparel, accessory and equipment sales increased 2% to $284.3 million, while footwear sales fell 10% to $48.8 million.
Tim Boyle, Columbia's president and chief executive officer, commented: "As expected, our first quarter results and 2012 outlook reflect muted sales growth due to the lingering effects of the warm winter globally and continued economic weakness across Europe.
"During the quarter, we implemented difficult but necessary cost containment measures designed to maintain our profitability while we work to liquidate excess inventory levels.
"These near-term challenges deepen our long-term resolve to continue to elevate each of our brands and strengthen their year-round presence in the marketplace.
"With Omni-Heat firmly established as a leading warmth technology, our innovation pipeline for 2013 features new visible cooling technologies that will be offered in both our Columbia and Mountain Hardwear brands."
