Columbia CEO wary of challenging year
03/05/2017
CEO Tim Boyle said: "Our first quarter results provide a good start to a year that presents many challenges, especially in the US, which has been impacted by customer bankruptcies, liquidations and ongoing efforts by retailers to rationalise their store fleets and square footage.
“We were encouraged by the Columbia brand's continued growth in Europe-direct markets during the first quarter and by the SOREL brand's successful launch of an expanded spring assortment. In addition, our direct-to-consumer businesses were a source of growth in every region.”
However, changing consumer retail patterns mean the group expects about 4% growth for the rest of the year, from its Columbia, Sorel and Mountain Hardware brands. Yoga company prAna is expected to report declining sales.
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