Columbia 1Q sales flat, profit slips, officials project 1% growth for 2012

Columbia Sportswear Co. reported flat sales and a lower profit for the first quarter 2012 due to lingering effects of a weak winter. That pace isn’t expected to improve much for the rest of the year, officials said, projecting just 1 percent sales growth for 2012.
Author:
Updated:
Original:

Columbia Sportswear Co. (Nasdaq: COLM) reported flat revenue and a lower profit for the first quarter 2012 due to lingering effects of a weak winter and lower sales in Europe.

The Portland, Ore.-based parent company of Columbia, Mountain Hardwear and Montrail outdoor brands reported its quarterly revenue relatively unchanged at $331.1 million compared a year ago. That pace isn’t expected to improve much for the rest of the year, officials said, projecting just 1 percent sales growth for 2012.

To keep in the black, Columbia announced in March that it would lay off 80 employees, or approximately 2 percent of its workforce. It faced $2.8 million in restructuring charges on those moves.

The company’s quarterly profit fell to $3.9 million, or 11 cents per diluted share, versus a profit of $12.8 million, or 37 cents per share a year ago.

By product segment, apparel, accessories and equipment sales increased 2 percent to $284.3 million and footwear sales fell 10 percent to $48.8 million.

By brand, Columbia sales increased 2 percent to $293.1 million, Mountain Hardwear sales fell 3 percent to $30.7 million and Sorel (which focuses on winter boots) dropped 38 percent to $6.4 million.

By region Columbia saw its sales in the U.S. unchanged at $193 million, Latin America and Asia Pacific sales grew 14 percent to $76.8 million, while Europe sales fell 14 percent to $38.1 million and Canada sales dropped 13 percent to $25.2 million.

Columbia continued a trend of flat-to-mixed first-quarter results from outdoor apparel and footwear brands on Wall Street, including similar performances from Wolverine Worldwide and Jarden earlier this week. Next up on Friday afternoon are results from The North Face and Timberland parent VF Corp. and Salomon and Arc’teryx parent Amer Sports.

--David Clucas

Related

columbia_logo.jpg

Columbia 4Q sales slip, but cost tightening raises profit

Columbia Sportswear Co. (Nasdaq: COLM) reported a decline in sales for the fourth quarter 2012, but was able to swing a profit on cost-tightening measures. The Portland, Ore.-based parent company of Mountain Hardwear, Montrail, Sorel and Columbia brands, said its fourth-quarter ...read more

JohnsonOutdoors_Logo.jpg

Johnson Outdoors revenue flat, profit slips on military orders

The maker of Eureka Tents and Old Town canoes and kayaks reported flat sales and lower profit for its fiscal second quarter 2012 on declining military sales. Racine, Wis.-based Johnson Outdoors (Nasdaq:JOUT) reported relatively unchanged revenue of $128.7 million during its ...read more

Financials09sm.jpg

Outdoor financials: Columbia sees record 4Q, but is cautious heading into 2012; plus LaCrosse revenue, profit slips

Columbia Sportswear Co. (Nasdaq:COLM) reported record fourth-quarter and full year 2011 earnings, but cautioned that the warm winter and European economic jitters could temper early 2012 results. The Portland, Ore.-based parent of Mountain Hardwear, Sorel and its namesake ...read more

columbia_logo.jpg

Columbia 1Q revenue, profit up on increased demand

Columbia Sportswear Co. (NASDAQ:COLM) reported higher revenue and a strong profit on increased demand, particularly for its Columbia Omni-Heat line and Mountain Hardwear brand. The Portland, Ore.-based parent company of Mountain Hardwear, Sorel and Montrail reported revenue of ...read more

Financials09sm.jpg

Outdoor financials: Jarden’s outdoor sales slip, but segment’s profit up on fishing products; Crocs sees solid 1Q gains

The parent company of outdoor brands Marmot, K2 and Coleman saw first-quarter outdoor sales slip 1.1 percent on a weak finish to winter, but operating income from the segment rose 15.7 percent as high-margin fishing products preformed well due the continued warm weather. ...read more

RockyBrandsLogo.jpeg

Boots still shine for Rocky Brands: 1Q sales, profit up

Boots are still in business for Rocky Brands (Nasdaq: RCKY). Despite industrywide reports of weaker outdoor boot sales due to the warm winter and spring, the Nelsonville, Ohio-based parent of Georgia Boot, Durango and Rocky footwear reported its first-quarter 2012 sales up 1.9 ...read more

WolverineWorldWide_Logo.jpg

Wolverine sees 1Q revenue, profit drop, but raises outlook for 2012

The parent company of Merrell, Chaco and Patagonia Footwear reported lower revenue and profit for the first quarter 2012 on weaker sales in Europe, but officials expect sales to rebound during the rest of the year. Wolverine Worldwide (NYSE: WWW) reported its quarterly revenue ...read more

ColumbiaBrands

Columbia 1Q sales up, but officials lower forecast for 2013

The chilly spring sprung Columbia Sportwear’s (NASDAQ: COLM) sales and profit for the first-quarter 2013, but upcoming wholesale orders tempered, prompting officials to project a slight sales decrease for 2013. Columbia, which is also parent to Mountain Hardwear, Montrail and ...read more

Financials09sm.jpg

Outdoor Financials: Lacrosse 1Q sales jump 32% on work, military boots; Teva sales slip at Deckers

Lacrosse Footwear Inc. (Nasdaq: BOOT) booted the notion that this couldn’t be a good winter for boots. The Portland-based footwear company reported sales up 32 percent to $33.3 million for the first quarter 2012, largely due to an increase of its work and military boot sales, ...read more