Columbia Sportswear estimates lower 4th quarter revenue

Columbia Sportswear Co said fourth-quarter sales were likely to be below its previous expectations due to low retail traffic and a mild winter in North America, sending its shares down 9 percent after the bell.

The company, which designs and markets sportswear under brands such as Mountain Hardwear, Sorel, Montrail and Pacific Trail, estimated revenue for the quarter ended Dec. 31 to be between $499 million and $503 million.

It had earlier forecast sales to rise up to 1.5 percent. It posted sales of $526.1 million a year earlier.

Analysts on average were expecting revenue of $533.80 million, according to Thomson Reuters I/B/E/S.

Columbia Sportswear also said it expects to report net income of between $37 million and $40 million, lower than its earlier outlook of $44 million.

Shares of the Portland, Oregon-based company, which sells apparel, accessories and equipment for a range of outdoor activities, including skiing and snowboarding, were trading at $47.33. They closed at $52.16 on the Nasdaq on Wednesday.

© Thomson Reuters 2017 All rights reserved.