Despite the warm weather and low holiday foot traffic, Columbia Sportswear Company reported record fourth quarter net sales of $699.4 million for the period ending Dec. 31, 2015. The sales represent a 3 percent increase (7 percent constant-currency) compared with net sales of $677.0 million for the fourth quarter of 2014.
Fourth quarter 2015 net income increased 14 percent to $63.4 million, or $0.90 per diluted share, also a fourth quarter record, compared with fourth quarter 2014 net income of $55.6 million, or $0.79 per diluted share.
Full year 2015 net sales increased $225.6 million, or 11 percent (15 percent constant-currency), to a record $2.33 billion, while operating income increased 26 percent to a record $249.7 million, representing operating margin of 10.7 percent compared with operating margin of 9.5 percent in 2014. Full year 2015 net income, including five months of incremental results from the prAna brand, increased 27 percent to a record $174.3 million, or $2.45 per diluted share, compared with full year 2014 net income of $137.2 million, or $1.94 per diluted share.
Chief Executive Officer Tim Boyle said the Columbia, Sorel, and prAna brands each generated double digit constant-currency net sales growth, concentrated in North America. In Europe, the Columbia brand achieved mid-20-percent constant-currency growth and began reclaiming share in key markets.
“We had high expectations entering the year and are encouraged that we exceeded those expectations despite unseasonably warm weather, macroeconomic challenges, and currency headwinds in many of our key markets. We believe this illustrates that active consumers appreciate the versatility and relevance of our brands, each offering products that connect them with their passions year-round in all weather conditions.”
