Columbia revises outlook on record first-quarter sales
05/05/2015
For the first quarter, group sales totalled $479 million, an increase of 13%.
Yoga brand prAna, which the company acquired last May, reported $37.1 million sales during the quarter.
However, Mountain Hardwear net sales decreased $7.3 million, or 23%, to $25.1 million.
CEO Tim Boyle said: “2015 is off to a strong start, building on the momentum we created in 2014. We are experiencing exceptional sell-through in North America through the first half of the spring season and our European business has returned to growth. Sorel is poised for a very strong second half and full year net sales of more than $200 million, while prAna remains on pace to deliver annualised growth of more than 20%.
"Our strong balance sheet is enabling us to invest in our expanded portfolio of active brands, while we continue transforming our global operations to fuel and support sustainable, profitable growth. Based on our solid first quarter results, the strengthening of autumn advance orders in North America and Europe, and the momentum behind our direct-to-consumer platform, we are raising our full year outlook and now expect to return to double-digit operating margin for the full year."
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