Record first half for Columbia Sportswear
US-based clothing and footwear group Columbia Sportswear has reported record first half revenues, a feat CEO Tim Boyle describes as an important milestone.
Net sales increased 35% to $1.2 billion.Mr Boyle said: "Our record financial performance clearly reflects the powerful fundamental recovery that is under way in our business.
“Second quarter results exceeded our expectations, driven by better-than-planned performance in our US wholesale and bricks and mortar businesses.
“We eclipsed pre-pandemic first half 2019 financial results, marking an important milestone in our recovery. It is clear that our brand portfolio is resonating with consumers and we are well positioned to benefit from current consumer and outdoor trends.”
As cited by many brands, ocean freight costs have risen dramatically in recent months and rising covid-19 cases in sourcing countries could further disrupt product availability and deliveries. Port congestion and logistics constraints continue to impact the timing of inventory receipts and deliveries. Despite this, the US group is confident on the outlook for the rest of the year.
