Columbia Sportswear (COLM) Tops Q4 EPS by 20c
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Columbia Sportswear Company Reports Fourth Quarter 2020 Financial Results and Provides Full Year 2021 Financial Outlook; Announces Quarterly Dividend and $400 Million Increase in Share Repurchase Auth
February 4, 2021 4:05 PM ESTFourth Quarter 2020 Highlights
Lower net sales and profitability in fourth quarter 2020 compared to fourth quarter 2019 primarily reflect the ongoing negative effects of the COVID-19 pandemic.
Net sales decreased 4 percent to $915.7 million, compared to fourth quarter 2019. Net sales benefited from later shipment of Fall 2020 wholesale orders as outlined in the third quarter 2020 earnings release. In the direct-to-consumer channel, e-commerce net sales increased 41 percent year-over-year while brick & mortar store traffic and sales trends improved sequentially but remained well below prior year levels. Operating income decreased 11 percent to $123.7 million, or 13.5 percent of net... More