Columbia Sportswear posts record Q2 sales

Columbia Sportswear Company posted record net sales at $388.8 million for the second quarter ended June 30, 2016, up 2 per cent as against $380.2 million for the second quarter of 2015.

Second quarter of 2016 operating loss reached $11.8 million, or a negative 3.0 percent of net sales vis-à-vis $9.0 million, or a negative 2.4 percent of net sales in the same period in 2015.

The effective income tax rate stood at 29.1 per cent in the quarter under review, which is nearly flat to the effective tax rate of 29.2 per cent in the prior year’s second quarter.

Net loss rose higher at $8.2 million or $0.12 loss per share in the reporting quarter compared to the second quarter of 2015 net loss of $6.5 million, or $0.09 loss per share.

The retailer closed the quarter with $428.8 million of cash and short-term investments at June 30, 2016, versus $417.5 million at June 30, 2015.

The board of directors has announced a regular quarterly dividend of $0.17 per share, payable on September 1, 2016 to shareholders of record on August 18, 2016.