Columbia Sportswear passes the 2 billion dollar mark
Columbia announced record net sales of $677.0 million for the fourth quarter of 2014, an increase of $143.9 million, or 27 percent, compared with net sales of $533.1 million for the fourth quarter of 2013. A 25% increase year-on-year.
Full year 2014 net sales increased $415.6 million, or 25 percent, to $2.1 billion and operating income increased 51 percent to $198.8 million, representing an operating margin of 9.5 percent compared with an operating margin of 7.8 percent in 2013. Full year 2014 net income increased 45 percent to $137.2 million compared with full year 2013 net income of $94.3 million.
In simple terms, the group saw its 2014 sales climb 25% compared to 2013, for the first time ever surpassing the two billion dollar mark.
Not taking into account certain operations, such as the activation of its co-company in China and the acquisition of the PrAna brand, which respectively generated 151 and 50 million dollars in sales, its organic growth stands at 12%.
Finally, Columbia brand net sales increased $337.4 million, or 24 percent, to $1.75 billion. The newly-acquired prAna brand contributed $53.7 million of incremental net sales. Sorel brand net sales grew $37.5 million, or 29 percent, to $166.2 million. These increases were partially offset by a $12.7 million, or 10 percent, decline in Mountain Hardwear net sales to $119.8 million.
Apparel, accessories & equipment net sales increased $301.6 million, or 22% percent, to $1.68 billion and footwear net sales increased $114.0 million, or 37%, to $424.4 million.
Europe only benefitted very slightly from the positive activity, with an 8% increase in sales at 243 million dollars, and no residual advantages from the PrAna brand. However, Columbia Sportswear did see its sales grow 23% in the US, to $1.2 billion, 28% in Canada, bringing in 142 million, and 39% in the Latin America and Asia-Pacific regions. With the latter two notable benefitting from the Chinese co-company, generating 461 million in revenue overall.
The group's operating result rose 51%, integrating in particular amortisation and depreciations transactions. Full year 2014 net income totaled $137.2 million, or $1.94 per diluted share, an increase of 45% percent compared with 2013 net income of $94.3 million.
For 2015, the group is expecting an approximately 10% increase in its sales and looking at a slightly increased rhythm in the growth of its operating result.
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