Sunday December 3, 2023

Columbia Posts Record $762M Quarter

  • The active and outdoor apparel retailer generated $762 million in revenue in Q1 2022.
  • Despite the results, the company saw its stock fall 6% following its latest earnings report.
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Columbia Sportswear Company announced record revenue in Q1 2022, but saw its stock take a dip in the company’s latest earnings report. 

The sportswear and outdoor apparel retailer generated $762 million in revenue in Q1 2022, a 22% increase compared to the same period a year prior. Columbia attributed the record results to growth across all of its brands, led by Sorel footwear, which grew 37% compared to Q1 2021. 

  • Columbia projects to pocket between $3.6 billion and $3.7 billion in revenue in FY2022.
  • In 2022, operating income is expected to range between $477 million and $502 million. 

Despite the strong Q1 results, shares of Columbia were down 6% on Friday as the company reported that its cash, cash equivalents, and short-term investments reached $610 million as of March 31, 2022, compared to $875 million last year.

Columbia also expects supply chain and inflationary challenges, as well as a shutdown of distribution in Russia, to hinder the company’s outlook for the rest of the fiscal year. 

The Oregon-based company repurchased $217 million in shares in Q1 2022, and its board of directors recently approved a $500 million increase to the company’s buyback authorization. 

Lowered Expectations

In December 2021, investment bank and market analyst Stifel downgraded Columbia. Analyst Jim Duffy lowered the brand from “buy” to “hold” due to concerns that a combination of unexpected warm weather and late-season snowfalls could impact the company’s sales.

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