Columbia Sportswear sales rise 6% on international sales, wholesale revenues
The Portland, Oregon-based company said U.S. sales fell 2 percent to $335.1 million, offset by a 26 percent sales increase in Europe, the Middle East, and Africa, and a 13 percent gain in Latin America and Asia Pacific region. Sales in the company's neighbouring Canada increased 2 percent for the three months ending June 30.
By brand, Columbia sales jumped 8 percent to $548.3 million, offsetting declines across the firm's smaller brands including Sorel, down 10 percent, PrAna, which decreased 6 percent, and Mountain Hardwear, down 7 percent.
By channel, wholesale revenues skyrocketed 14 percent, reflecting changes in wholesale shipment timing, and partially offset by lower direct-to-consumer sales, down 1 percent.
Net losses narrowed to $10.2 million during the quarter, compared to a net loss of $11.7 million in the prior-year quarter.
'Second quarter and first half financial results reflect sustained momentum in our international markets. While business trends in our U.S. business remain soft, we continue to take steps to re-energize the Columbia brand through our Accelerate growth strategy.
"In the coming days, we will launch one of the most impactful components of this strategy, our new highly differentiated Columbia brand voice and marketing campaign," said chairman, president and chief executive officer, Tim Boyle.
'The apparel and footwear industry is facing increasing tariffs, on top of already high existing duties. In this period of global trade policy uncertainty, we continue to take actions to mitigate the financial and operational impacts to our business. For the upcoming Fall 2025 season, our focus is delivering exceptional value to consumers, who are pressured by higher prices for many consumer goods, as well as keeping inventory and dealer margins healthy."
Looking ahead, the company forecast full-year sales to land between a 1 percent decrease to an increase of 1 percent, resulting in sales of $3.33 to $3.40 billion, compared to $3.37 billion in 2024.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
LeMonde
9 minutes ago
- LeMonde
Legal battle erupts over inheritance of former richest man in China
The presumed children of Zong Qinghou, founder of the beverage giant Wahaha who died in February 2024 at the age of 79, have scored an initial victory. On Friday, August 1, the Hong Kong Supreme Court ruled in favor of the three plaintiffs by ordering the freezing of an HSBC account containing $1.8 billion (€1.55 billion), recognizing their rights as presumed beneficiaries of this capital. The plaintiffs claim to be the unacknowledged children from a decades-long secret relationship between the late billionaire and his mistress, Du Jianying, a former Wahaha employee. The case pits them against Zong Fuli, 43 (also known as Kelly Zong), the legitimate daughter of Zong Qinghou and current CEO of Wahaha. The three plaintiffs, two men and one woman, assert that the businessman, an industrial icon in China during the 2000s, promised a month before his death, through a brief handwritten note, to create three offshore trusts to distribute the money evenly. The Hong Kong court ruled in their favor, freezing the Hong Kong account of a British Virgin Islands-based holding company, first managed by Zong Qinghou and then by his legitimate daughter, which was intended to fund these trusts.
Euronews
10 minutes ago
- Euronews
US Coast Guard: OceanGate's flawed practices caused Titan sub tragedy
OceanGate's "critically flawed" safety practices contributed to a "preventable" implosion killing five people aboard its Titan submersible, according to a US Coast Guard report released Tuesday. The submersible imploded 90 minutes into a dive to the Titanic wreckage on 18 June 2023, killing CEO Stockton Rush and four passengers including a British-Pakistani father and son. The report identified eight primary factors contributing to the fatal implosion, including inadequate design and testing processes, insufficient data analysis and the use of carbon fibre construction, which rendered the craft incapable of withstanding deep-sea pressure. The report also found a "toxic workplace environment" at OceanGate where dismissal was routinely used as a means to prevent staff from speaking out about safety concerns. In addition to the eight primary factors for the tragedy, the report listed a further four that could have contributed. The coastguard calls OceanGate's operational practices "critically flawed" and highlights "glaring disparities between their written safety protocols and their actual practices." The report also says that OceanGate lacked comprehensive regulations for the oversight of its submersibles. Arguably the most damning finding in the report is OceanGate using "intimidation tactics" to avoid regulatory scrutiny. "By strategically creating and exploiting regulatory confusion and oversight challenges, OceanGate was ultimately able to operate Titan completely outside of the established deep-sea protocols," the report says. Jason Neubauer, with the Marine Board of Investigation, said that the findings will help prevent future tragedies. "There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework," he said in a statement. The family of two of the passengers who were killed on the Titan sub have called for tougher regulation following the publication of the coastguard's report. British-Pakistani businessman Shahzada Dawood, 48, and his 19-year-old son Suleman were two of the three customers killed when Titan imploded. "No report can alter the heartbreaking outcome, nor fill the immeasurable void left by two cherished members of our family," a statement from the family said. "We believe that accountability and regulatory change must follow such a catastrophic Shahzada and Suleman's legacy can be a catalyst for regulatory change that helps prevent such a loss from ever happening again, it will bring us some measure of peace." Who else was on board? In addition to the Dawoods and OceanGate's CEO Rush, British adventurer Hamish Harding who ran the Dubai-based private jet dealership Action Aviation was among those killed. Rounding out the five-person crew was former French submariner and Titanic expert Paul-Henry Nargeolet. OceanGate began taking passengers to the wreck of the Titanic in 2021, charging $250,000 (€216,000) per person for the trip. Following the Titan implosion on 18 June 2023, the company's office was closed on 21 June and by 6 July the company had ceased all operations.
Fashion Network
40 minutes ago
- Fashion Network
India accuses EU, US of double standard over Russian trade
India has sharply criticised the US and the European Union, saying it is being unfairly singled out by them over its Russian oil purchases when they both trade extensively with Moscow despite the war in Ukraine. India's criticism followed a renewed threat by US President Donald Trump on Monday to raise tariffs on goods from India over its Russian oil purchases, deepening the trade rift between the two countries. In a rare show of unity, Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) and the main opposition Congress on Tuesday condemned Trump's repeated criticism of New Delhi. India's Foreign Ministry said in a statement issued late on Monday that "it is revealing that the very nations criticising India are themselves indulging in trade with Russia". The US embassy and the EU's delegation in New Delhi did not immediately respond to a request for comment. Both the US and EU have sharply scaled back their trade ties with Russia since it launched a full-scale invasion of Ukraine in February 2022. In 2021, Russia was the EU's fifth-largest trading partner, with goods exchange worth 258 billion euros, according to the EU executive European Commission. The sudden rift between India and the US has been deepening since July 31, when Trump announced a 25% tariff on Indian goods being shipped to the US and for the first time threatened unspecified penalties for buying Russian oil. India is one of the biggest buyers of crude from Russia, importing about 1.75 million barrels per day from January to June this year, up 1% from a year ago. India has said it does not support "unilateral sanctions" by the EU. Trade experts say Trump's tariff could badly hurt India's economy. Ajay Srivastava of the New Delhi-based Global Trade Research Initiative said he expected Indian goods exports to the US to fall 30% in the current fiscal year ending March 31, to 60.6 billion dollars from 86.5 billion dollars in the 2025 fiscal year. India's equity benchmarks fell after Trump's renewed threat of harsh tariffs on goods from India. Manish Tewari, a member of parliament and Congress leader, said Trump's "disparaging remarks hurt the dignity and self-respect of Indians". "The time has come to call out this constant bullying and hectoring," he added. BJP Vice President Baijayant Jay Panda quoted Henry Kissinger - the most powerful US diplomat of the Cold War era - in a post on X: "To be an enemy of America can be dangerous, but to be a friend is fatal."
