Columbia Sportswear Company Reports Record Fourth Quarter and Full Year 2021 Financial Results; Provides Full Year 2022 Financial Outlook; Board Approves 15 Percent Dividend Increase
Fourth quarter 2021 results showed a 23% increase in net sales, reaching a record $1,129.7 million, and a 71% rise in operating income to $211.6 million. Diluted earnings per share rose 66% to $2.39. The company ended the quarter with $894.5 million in cash and no debt. The Board approved a 15% increase in the quarterly dividend to $0.30 per share. For the full year, net sales increased 25% to $3,126.4 million, with operating income up by 229% to $450.5 million. EPS also soared by 229% to $5.33.
- Net sales increased 25% to a record $3,126.4 million.
- Operating income surged 229% to $450.5 million.
- Diluted earnings per share increased 229% to $5.33.
- Exited the quarter with $894.5 million in cash and no debt.
- Quarterly dividend increased by 15% to $0.30 per share.
- None.
Fourth Quarter 2021 Highlights
-
Net sales increased 23 percent to a record
$1,129.7 million -
Operating income increased 71 percent to a record
$211.6 million $123.7 million -
Diluted earnings per share increased 66 percent to a record
$2.39 $1.44 -
Exited the quarter with
$894.5 million -
On
January 28, 2022 , the Board of Directors approved a 15 percent increase to the quarterly dividend to$0.30
Full Year 2021 Highlights
-
Net sales increased 25 percent to a record
$3,126.4 million -
Operating income increased 229 percent to a record
$450.5 million $137.0 million -
Diluted earnings per share increased 229 percent to a record
$5.33 $1.62 - Net sales increased 3 percent and diluted earnings per share increased 10 percent, compared to pre-pandemic 2019 levels.
-
The Company repurchased
$165.9 million
Full Year 2022 Financial Outlook
The following forward-looking statements reflect our expectations as of
-
Net sales of
$3.63 $3.69 billion -
Operating income of
$472 $498 million -
Diluted earnings per share of
$5.50 $5.80
Chairman, President and Chief Executive Officer
"As we begin 2022, we are acutely focused on unlocking the growth opportunities we see across the business while mitigating supply chain and inflationary pressures. Our powerful brand portfolio is well positioned to connect active people with their passions and capitalize on the popularity of outdoor activities. Our 2022 outlook calls for 16 to 18 percent net sales growth, on top of 25 percent growth in 2021.
“I am confident we have the right strategies in place to drive profitable growth, and we are committed to investing in our strategic priorities to:
- drive brand awareness and sales growth through increased, focused demand creation investments;
- enhance consumer experience and digital capabilities in all our channels and geographies;
- expand and improve global direct-to-consumer operations with supporting processes and systems; and
- invest in our people and optimize our organization across our portfolio of brands."
CFO's Commentary and Financial Review Presentation Available Online
For a detailed review of the Company's fourth quarter 2021 financial results, please refer to the CFO Commentary and Financial Review presentation furnished to the
COVID-19 and Supply Chain Updates
The Company's top priority throughout this pandemic remains to protect the health and safety of our employees, their families, our customers and our communities. While there were isolated temporary store closures resulting from local regulations or safety concerns, the majority of the Company's owned stores remained open throughout fourth quarter 2021. Overall brick & mortar store traffic trends remain below pre-pandemic levels.
Supply chain constraints continue to impact operations, resulting in delayed receipt and delivery of products for our Fall 2021 and Spring 2022 seasons. Demand for ocean vessels and containers continues to far outstrip available capacity, resulting in significant year-over-year increases in ocean freight costs. Please refer to the CFO Commentary and Financial Review presentation for a detailed review of COVID-19 pandemic and Supply Chain related issues and our responses.
Fourth Quarter 2021 Financial Results
(All comparisons are between fourth quarter 2021 and fourth quarter 2020, unless otherwise noted.)
Net sales increased 23 percent to
Gross margin expanded 160 basis points to 52.2 percent of net sales from 50.6 percent of net sales for the comparable period in 2020. Gross margin expansion was primarily driven by lower DTC promotional levels, strong retail sell-through performance resulting in higher wholesale product margins, and favorable channel sales mix, partially offset by higher inbound freight costs and year-over-year changes in inventory provision activity.
SG&A expenses increased 12 percent to
Operating income increased 71 percent to
Income tax expense of
Net income increased 64 percent to
Full Year 2021 Financial Results
(All comparisons are between full year 2021 and full year 2020, unless otherwise noted.)
Net sales increased 25 percent to
Gross margin expanded 270 basis points to 51.6 percent of net sales from 48.9 percent of net sales for the comparable period in 2020.
SG&A expenses increased 7 percent to
Operating income increased 229 percent to
Income tax expense of
Net income increased 228 percent to
Balance Sheet as of
Cash, cash equivalents and short-term investments totaled
The Company had no borrowings as of
Inventories increased 16 percent to
Cash Flow for the Twelve Months Ended
Net cash flow provided by operating activities was
Capital expenditures totaled
Share Repurchases for the Twelve Months Ended
The Company repurchased 1,655,407 shares of common stock for an aggregate of
At
Quarterly Cash Dividend
At its board meeting on
Full Year 2022 Financial Outlook
(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)
The Company's 2022 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of
Net sales are expected to increase 16 to 18 percent to
Gross margin is expected to contract approximately 160 basis points to approximately 50 percent of net sales from 51.6 percent of net sales in 2021.
SG&A expenses are expected to increase at a slightly slower rate than net sales growth. SG&A expense as a percent of net sales is expected to be 37.2 to 37.5 percent, compared to SG&A expenses as a percent of net sales of 37.8 percent in 2021. Demand creation as a percent of net sales is anticipated to be 6.0 percent in 2022, compared to 5.9 percent in 2021.
Operating income is expected to be
Effective income tax rate is expected to be approximately 24.0 to 24.5 percent. The effective income tax rate may be affected by unanticipated impacts from changes in international, federal or state tax policies, changes in the Company's geographic mix of pre-tax income, other discrete events, as well as differences from our estimate of the tax benefits associated with employee equity awards and our estimate of the tax impact of various tax initiatives.
Net income is expected to be
Foreign Currency
Foreign currency is expected to have essentially no impact on earnings as favorable net sales growth of 120 basis points due to foreign currency translation impacts are anticipated to be offset by translation of cost of goods sold and SG&A expenses as well as negative foreign currency transactional effects from hedging of production.
Balance Sheet and Cash Flows
Operating cash flow is expected to be at least
Capital expenditures are planned to be between
First Half 2022 Financial Commentary
- Net sales growth of high-teens to low-20 percent, compared to first half 2021.
- Gross margin is anticipated to contract over 300 basis points compared to first half 2021.
- SG&A expenses are anticipated to grow slower than net sales growth, resulting in modest SG&A leverage.
-
Diluted earnings per share of
$0.90 $1.10
Conference Call
The Company will hold its fourth quarter 2021 conference call at
First Quarter 2021 Reporting Date
Supplemental Financial Information
Since
The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the "Reconciliation of GAAP to Non-GAAP Financial Measures" table included herein. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the Company’s expectations, anticipations or beliefs about full year 2022 net sales, gross margin, SG&A expense, demand creation spend, operating income, effective income tax rate, net income, diluted earnings per share, foreign currency translation, cash flows, and capital expenditures, and first half 2022 net sales, gross margin, SG&A expense and diluted earnings per share. Forward-looking statements often use words such as "will," "anticipate," "estimate," "expect," "should," "may" and other words and terms of similar meaning or reference future dates. The Company's expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis; however, each forward-looking statement involves a number of risks and uncertainties, including those set forth in this document, those described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading "Risk Factors," and those that have been or may be described in other reports filed by the Company, including reports on Form 8-K. Potential risks and uncertainties include those relating to the impact of the COVID-19 pandemic on our operations; economic conditions, including inflationary pressures; supply chain disruptions, constraints and expenses; labor shortages; changes in consumer behavior and confidence; as well as geopolitical tensions. The Company does not undertake any duty to update any of the forward-looking statements after the date of this document to conform them to actual results or to reflect changes in events, circumstances or its expectations. New factors emerge from time to time and it is not possible for the Company to predict or assess the effects of all such factors or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
About
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
||||||
|
|
|
||||
(in thousands) |
|
2021 |
|
2020 |
||
ASSETS |
|
|
|
|
||
Current Assets: |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
763,404 |
|
$ |
790,725 |
Short-term investments |
|
|
131,145 |
|
|
1,224 |
Accounts receivable, net |
|
|
487,803 |
|
|
452,945 |
Inventories, net |
|
|
645,379 |
|
|
556,530 |
Prepaid expenses and other current assets |
|
|
86,306 |
|
|
54,197 |
Total current assets |
|
|
2,114,037 |
|
|
1,855,621 |
Property, plant, and equipment, net |
|
|
291,088 |
|
|
309,792 |
Operating lease right-of-use assets |
|
|
330,928 |
|
|
339,244 |
Intangible assets, net |
|
|
101,908 |
|
|
103,558 |
|
|
|
68,594 |
|
|
68,594 |
Deferred income taxes |
|
|
92,121 |
|
|
96,126 |
Other non-current assets |
|
|
68,452 |
|
|
63,636 |
Total assets |
|
$ |
3,067,128 |
|
$ |
2,836,571 |
LIABILITIES AND EQUITY |
|
|
|
|
||
Current Liabilities: |
|
|
|
|
||
Accounts payable |
|
$ |
283,349 |
|
$ |
206,697 |
Accrued liabilities |
|
|
316,485 |
|
|
257,278 |
Operating lease liabilities |
|
|
67,429 |
|
|
65,466 |
Income taxes payable |
|
|
13,127 |
|
|
23,181 |
Total current liabilities |
|
|
680,390 |
|
|
552,622 |
Non-current operating lease liabilities |
|
|
317,666 |
|
|
353,181 |
Income taxes payable |
|
|
44,541 |
|
|
49,922 |
Deferred income taxes |
|
|
— |
|
|
5,205 |
Other long-term liabilities |
|
|
35,279 |
|
|
42,870 |
Total liabilities |
|
|
1,077,876 |
|
|
1,003,800 |
Shareholders' equity |
|
|
1,989,252 |
|
|
1,832,771 |
Total liabilities and shareholders' equity |
|
$ |
3,067,128 |
|
$ |
2,836,571 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
||||||||||||||||
|
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||||
(In thousands, except per share amounts) |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
||||||||
Net sales |
|
$ |
1,129,720 |
|
|
$ |
915,623 |
|
|
$ |
3,126,402 |
|
|
$ |
2,501,554 |
|
Cost of sales |
|
|
539,544 |
|
|
|
452,586 |
|
|
|
1,513,947 |
|
|
|
1,277,665 |
|
Gross profit |
|
|
590,176 |
|
|
|
463,037 |
|
|
|
1,612,455 |
|
|
|
1,223,889 |
|
Gross margin |
|
|
52.2 |
% |
|
|
50.6 |
% |
|
|
51.6 |
% |
|
|
48.9 |
% |
|
|
|
|
|
|
|
|
|
||||||||
Selling, general and administrative expenses |
|
|
384,047 |
|
|
|
343,284 |
|
|
|
1,180,323 |
|
|
|
1,098,948 |
|
Net licensing income |
|
|
5,439 |
|
|
|
3,940 |
|
|
|
18,372 |
|
|
|
12,108 |
|
Operating income |
|
|
211,568 |
|
|
|
123,693 |
|
|
|
450,504 |
|
|
|
137,049 |
|
Interest income (expense), net |
|
|
308 |
|
|
|
(293 |
) |
|
|
1,380 |
|
|
|
435 |
|
Other non-operating income (expense), net |
|
|
24 |
|
|
|
(169 |
) |
|
|
(373 |
) |
|
|
2,039 |
|
Income before income tax |
|
|
211,900 |
|
|
|
123,231 |
|
|
|
451,511 |
|
|
|
139,523 |
|
Income tax expense |
|
|
(54,939 |
) |
|
|
(27,475 |
) |
|
|
(97,403 |
) |
|
|
(31,510 |
) |
Net income |
|
$ |
156,961 |
|
|
$ |
95,756 |
|
|
$ |
354,108 |
|
|
$ |
108,013 |
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
2.41 |
|
|
$ |
1.45 |
|
|
$ |
5.37 |
|
|
$ |
1.63 |
|
Diluted |
|
$ |
2.39 |
|
|
$ |
1.44 |
|
|
$ |
5.33 |
|
|
$ |
1.62 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
65,229 |
|
|
|
66,225 |
|
|
|
65,942 |
|
|
|
66,376 |
|
Diluted |
|
|
65,617 |
|
|
|
66,642 |
|
|
|
66,415 |
|
|
|
66,772 |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
||||||||
|
|
Year Ended |
||||||
(in thousands) |
|
2021 |
|
2020 |
||||
Cash flows from operating activities: |
|
|
|
|
||||
Net income |
|
$ |
354,108 |
|
|
$ |
108,013 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
||||
Depreciation, amortization, and non-cash lease expense |
|
|
115,571 |
|
|
|
146,601 |
|
Provision for uncollectible accounts receivable |
|
|
(10,758 |
) |
|
|
19,156 |
|
Loss on disposal or impairment of intangible assets, property, plant and equipment, and right-of-use assets |
|
|
1,233 |
|
|
|
31,342 |
|
Deferred income taxes |
|
|
(9,798 |
) |
|
|
(11,263 |
) |
Stock-based compensation |
|
|
19,126 |
|
|
|
17,778 |
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
Accounts receivable |
|
|
(31,622 |
) |
|
|
22,885 |
|
Inventories, net |
|
|
(100,261 |
) |
|
|
64,884 |
|
Prepaid expenses and other current assets |
|
|
(24,858 |
) |
|
|
33,712 |
|
Other assets |
|
|
1,231 |
|
|
|
(21,224 |
) |
Accounts payable |
|
|
75,513 |
|
|
|
(49,275 |
) |
Accrued liabilities |
|
|
66,457 |
|
|
|
(52,115 |
) |
Income taxes payable |
|
|
(15,248 |
) |
|
|
9,082 |
|
Operating lease assets and liabilities |
|
|
(85,176 |
) |
|
|
(52,112 |
) |
Other liabilities |
|
|
(1,112 |
) |
|
|
8,613 |
|
Net cash provided by operating activities |
|
|
354,406 |
|
|
|
276,077 |
|
Cash flows from investing activities: |
|
|
|
|
||||
Purchases of short-term investments |
|
|
(130,191 |
) |
|
|
(35,044 |
) |
Sales and maturities of short-term investments |
|
|
1,184 |
|
|
|
36,631 |
|
Capital expenditures |
|
|
(34,744 |
) |
|
|
(28,758 |
) |
Net cash used in investing activities |
|
|
(163,751 |
) |
|
|
(27,171 |
) |
Cash flows from financing activities: |
|
|
|
|
||||
Proceeds from credit facilities |
|
|
38,334 |
|
|
|
402,422 |
|
Repayments on credit facilities |
|
|
(38,156 |
) |
|
|
(403,146 |
) |
Payment of line of credit issuance fees |
|
|
— |
|
|
|
(3,278 |
) |
Proceeds from issuance of common stock related to stock-based compensation |
|
|
28,783 |
|
|
|
6,919 |
|
Tax payments related to stock-based compensation |
|
|
(5,812 |
) |
|
|
(4,533 |
) |
Repurchase of common stock |
|
|
(165,415 |
) |
|
|
(132,889 |
) |
Cash dividends paid |
|
|
(68,623 |
) |
|
|
(17,195 |
) |
Net cash used in financing activities |
|
|
(210,889 |
) |
|
|
(151,700 |
) |
Net effect of exchange rate changes on cash |
|
|
(7,087 |
) |
|
|
7,510 |
|
Net increase (decrease) in cash and cash equivalents |
|
|
(27,321 |
) |
|
|
104,716 |
|
Cash and cash equivalents, beginning of period |
|
|
790,725 |
|
|
|
686,009 |
|
Cash and cash equivalents, end of period |
|
$ |
763,404 |
|
|
$ |
790,725 |
|
Supplemental disclosures of cash flow information: |
|
|
|
|
||||
Cash paid during the year for income taxes |
|
$ |
129,483 |
|
|
$ |
14,687 |
|
Supplemental disclosures of non-cash investing and financing activities: |
|
|
|
|
||||
Property, plant and equipment acquired through increase in liabilities |
|
$ |
5,853 |
|
|
$ |
3,831 |
|
Reconciliation of GAAP to Non-GAAP Financial Measures Net Sales Growth - Constant-currency Basis (Unaudited) |
||||||||||||||||||||
|
|
Three Months Ended |
||||||||||||||||||
|
|
Reported
|
|
Adjust for
|
|
Constant-
|
|
Reported
|
|
Reported
|
|
Constant-
|
||||||||
(In millions, except percentage changes) |
|
2021 |
|
Translation |
|
2021(1) |
|
2020 |
|
% Change |
|
% Change(1) |
||||||||
Geographical |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
$ |
762.1 |
|
$ |
— |
|
|
$ |
762.1 |
|
|
$ |
599.1 |
|
27 |
% |
|
27 |
% |
|
|
|
172.8 |
|
|
4.4 |
|
|
|
177.2 |
|
|
|
163.6 |
|
6 |
% |
|
8 |
% |
|
|
|
113.6 |
|
|
0.6 |
|
|
|
114.2 |
|
|
|
85.6 |
|
33 |
% |
|
33 |
% |
|
|
|
81.2 |
|
|
(4.1 |
) |
|
|
77.1 |
|
|
|
67.4 |
|
20 |
% |
|
14 |
% |
Total |
|
$ |
1,129.7 |
|
$ |
0.9 |
|
|
$ |
1,130.6 |
|
|
$ |
915.7 |
|
23 |
% |
|
23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brand |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Columbia |
|
$ |
894.2 |
|
$ |
1.4 |
|
|
$ |
895.6 |
|
|
$ |
699.7 |
|
28 |
% |
|
28 |
% |
SOREL |
|
|
163.4 |
|
|
(0.6 |
) |
|
|
162.8 |
|
|
|
150.0 |
|
9 |
% |
|
9 |
% |
prAna |
|
|
34.3 |
|
|
— |
|
|
|
34.3 |
|
|
|
36.9 |
|
(7 |
)% |
|
(7 |
)% |
|
|
|
37.8 |
|
|
0.1 |
|
|
|
37.9 |
|
|
|
29.1 |
|
30 |
% |
|
30 |
% |
Total |
|
$ |
1,129.7 |
|
$ |
0.9 |
|
|
$ |
1,130.6 |
|
|
$ |
915.7 |
|
23 |
% |
|
23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Product Category |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apparel, Accessories and Equipment |
|
$ |
846.1 |
|
$ |
0.7 |
|
|
$ |
846.8 |
|
|
$ |
661.4 |
|
28 |
% |
|
28 |
% |
Footwear |
|
|
283.6 |
|
|
0.2 |
|
|
|
283.8 |
|
|
|
254.3 |
|
12 |
% |
|
12 |
% |
Total |
|
$ |
1,129.7 |
|
$ |
0.9 |
|
|
$ |
1,130.6 |
|
|
$ |
915.7 |
|
23 |
% |
|
23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Channel |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale |
|
$ |
504.5 |
|
$ |
(0.3 |
) |
|
$ |
504.2 |
|
|
$ |
446.0 |
|
13 |
% |
|
13 |
% |
DTC |
|
|
625.2 |
|
|
1.2 |
|
|
|
626.4 |
|
|
|
469.7 |
|
33 |
% |
|
33 |
% |
Total |
|
$ |
1,129.7 |
|
$ |
0.9 |
|
|
$ |
1,130.6 |
|
|
$ |
915.7 |
|
23 |
% |
|
23 |
% |
(1) Constant-currency net sales information is a non-GAAP financial measure that excludes the effect of changes in foreign currency exchange rates against
Reconciliation of GAAP to Non-GAAP Financial Measures Net Sales Growth - Constant-currency Basis (Unaudited) |
||||||||||||||||||||
|
|
Twelve Months Ended |
||||||||||||||||||
|
|
Reported
|
|
Adjust for
|
|
Constant-
|
|
Reported
|
|
Reported
|
|
Constant-
|
||||||||
(In millions, except percentage changes) |
|
2021 |
|
Translation |
|
2021(1 ) |
|
2020 |
|
% Change |
|
% Change(1) |
||||||||
Geographical |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
$ |
2,060.3 |
|
$ |
— |
|
|
$ |
2,060.3 |
|
|
$ |
1,603.8 |
|
28 |
% |
|
28 |
% |
|
|
|
465.5 |
|
|
(7.5 |
) |
|
|
458.0 |
|
|
|
424.5 |
|
10 |
% |
|
8 |
% |
|
|
|
382.1 |
|
|
(9.0 |
) |
|
|
373.1 |
|
|
|
298.9 |
|
28 |
% |
|
25 |
% |
|
|
|
218.5 |
|
|
(12.8 |
) |
|
|
205.7 |
|
|
|
174.4 |
|
25 |
% |
|
18 |
% |
Total |
|
$ |
3,126.4 |
|
$ |
(29.3 |
) |
|
$ |
3,097.1 |
|
|
$ |
2,501.6 |
|
25 |
% |
|
24 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brand |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Columbia |
|
$ |
2,557.4 |
|
$ |
(26.4 |
) |
|
$ |
2,531.0 |
|
|
$ |
1,996.9 |
|
28 |
% |
|
27 |
% |
SOREL |
|
|
320.9 |
|
|
(2.4 |
) |
|
|
318.5 |
|
|
|
293.5 |
|
9 |
% |
|
9 |
% |
prAna |
|
|
141.9 |
|
|
— |
|
|
|
141.9 |
|
|
|
131.6 |
|
8 |
% |
|
8 |
% |
|
|
|
106.2 |
|
|
(0.5 |
) |
|
|
105.7 |
|
|
|
79.6 |
|
33 |
% |
|
33 |
% |
Total |
|
$ |
3,126.4 |
|
$ |
(29.3 |
) |
|
$ |
3,097.1 |
|
|
$ |
2,501.6 |
|
25 |
% |
|
24 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Product Category |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apparel, Accessories and Equipment |
|
$ |
2,389.2 |
|
$ |
(20.3 |
) |
|
$ |
2,368.9 |
|
|
$ |
1,867.6 |
|
28 |
% |
|
27 |
% |
Footwear |
|
|
737.2 |
|
|
(9.0 |
) |
|
|
728.2 |
|
|
|
634.0 |
|
16 |
% |
|
15 |
% |
Total |
|
$ |
3,126.4 |
|
$ |
(29.3 |
) |
|
$ |
3,097.1 |
|
|
$ |
2,501.6 |
|
25 |
% |
|
24 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Channel |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale |
|
$ |
1,660.4 |
|
$ |
(19.5 |
) |
|
$ |
1,640.9 |
|
|
$ |
1,403.3 |
|
18 |
% |
|
17 |
% |
DTC |
|
|
1,466.0 |
|
|
(9.8 |
) |
|
|
1,456.2 |
|
|
|
1,098.3 |
|
33 |
% |
|
33 |
% |
Total |
|
$ |
3,126.4 |
|
$ |
(29.3 |
) |
|
$ |
3,097.1 |
|
|
$ |
2,501.6 |
|
25 |
% |
|
24 |
% |
(1) Constant-currency net sales information is a non-GAAP financial measure that excludes the effect of changes in foreign currency exchange rates against
View source version on businesswire.com: https://www.businesswire.com/news/home/20220203005693/en/
Vice President of Investor Relations and Strategic Planning
(503) 985-4112
aburns@columbia.com
Source:
FAQ
What was the net sales figure for COLM in Q4 2021?
How much did diluted earnings per share increase for COLM in 2021?
What is the financial outlook for COLM in 2022?
What was the increase in operating income for COLM in Q4 2021?
How much common stock did COLM repurchase in 2021?
