Columbia Sportswear (COLM) Misses Q3 EPS by 22c; Guides Lower
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Columbia Sportswear Company Reports Third Quarter 2020 Financial Results, Provides Fourth Quarter 2020 Financial Outlook
October 29, 2020 4:05 PM EDTThird Quarter 2020 Financial Results
Lower net sales and profitability in third quarter 2020 compared to third quarter 2019 primarily reflect the ongoing negative effects of the COVID-19 pandemic.
Net sales decreased 23 percent to $701.1 million, compared to third quarter 2019. Excluding approximately $45 million of Fall 2020 shipments shifting into fourth quarter 2020, third quarter 2020 net sales would have decreased 18 percent. In the direct-to-consumer channel, e-commerce net sales increased 55 percent year-over-year while brick & mortar store traffic and sales trends remained well below prior year levels. Operating income decreased 44 percent to $85.6 million, or 12.2 percent of net sales,... More