Business
Columbia Sportswear Company Reports Second Quarter and First Half 2022 Financial Results
Updates Full Year 2022 Financial Outlook Financial Highlights Net sales increased 2 percent (4 percent constant-currency) to a record $578.1 million,
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nUpdates Full Year 2022 Financial Outlook\n\nFinancial Highlights\n\n\nNet sales increased 2 percent (4 percent constant-currency) to a record $578.1 million, compared to second quarter 2021.\n\n\nOperating income decreased 75 percent to $8.8 million, or 1.5 percent of net sales, compared to second quarter 2021 operating income of $35.0 million, or 6.2 percent of net sales.\n\n\nDiluted earnings per share decreased 82 percent to $0.11, compared to $0.61 in second quarter 2021.\n\n\nThe Company repurchased $69.6 million of common stock during the second quarter and $286.9 million during the first six months of 2022.\n\n\nFull Year 2022 Financial Outlook\n\nThe following forward-looking statements reflect our expectations as of July 27, 2022 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2022 Financial Outlook section below and the CFO Commentary and Financial Review presentation.\n\n\nNet sales of $3.44 to $3.50 billion (prior $3.63 to $3.69 billion) representing net sales growth of 10 to 12 percent (prior 16 to 18 percent) compared to 2021.\n\n\nOperating income of $415 to $449 million (prior $477 to $502 million), representing operating margin of 12.1 to 12.8 percent (prior 13.2 to 13.6 percent).\n\n\nDiluted earnings per share of $5.00 to $5.40 (prior $5.70 to $6.00).\n\n\n \n\n PORTLAND, Ore.--(BUSINESS WIRE)--\nColumbia Sportswear Company (NASDAQ: COLM, the \"Company\"), a global leading innovator in outdoor, active and lifestyle products including apparel, footwear, accessories, and equipment, today announced second quarter 2022 financial results for the period ended June 30, 2022.\n\nChairman, President and Chief Executive Officer Tim Boyle commented, \"First half net sales increased 12 percent, reflecting the strength of our brand portfolio amidst a rapidly changing and increasingly challenging economic environment. All of our brands contributed to this growth, with SOREL leading the charge, surging 33 percent, fueled by the brand’s bold new summer and year-round styles. During the second quarter, which is our lowest volume sales quarter, performance trends varied greatly by region. Many markets continued to experience meaningful sales growth, whi...