Q3 sales decline at Columbia Sportswear
US-based outdoor apparel and footwear producer Columbia Sportswear Company has posted sales of $523.1 million for the third quarter ended September 30. This was a 4% decrease compared with sales of $545 million during the same period in 2012.
Net income totalled $54.6 million compared with $64.4 million during the prior-year period.
Tim Boyle, Columbia's president and chief executive officer, said: "Our third-quarter results benefited from strong performance across our direct-to-consumer platform while we continue to focus on reinvigorating growth in our wholesale channels globally.
“A 14% decline in inventory levels and our continued focus on managing discretionary spending also contributed to better-than-expected profitability and cash flow during the quarter, leading us to raise our financial outlook for 2013.
"These trends are encouraging and we're very focused on several initiatives to return to growth in 2014, beginning with improved seasonal product assortments.
"We also expect to generate growth through our new joint venture in China, grow and expand our direct-to-consumer operations, generate growth in our North American and European wholesale businesses and grow in key international markets served by independent distributors."
