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Columbia Sportswear: Record Earnings Amid Strong Footwear Growth

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Columbia Sportswear Company reported record sales and strong growth in several product categories, including footwear.

The company’s net sales increased 10 percent (12 percent constant-currency) to a first-quarter record $525.1 million, compared with net sales of $479.0 million for the first quarter of 2015. Operating income also hit a first-quarter record of $44.3 million, or 8.4 percent of net sales. Net income, meanwhile, increased 20 percent to a first-quarter record $31.8 million, or $0.45 per diluted share, aided by a tax benefit of $4.1 million, or $0.06 per diluted share, from the adoption of a newly issued accounting standard.

Footwear was a strong growth area for the brand, up 14 percent to $91.1 million from $79.7 million in 2015. Apparel, accessories and equipment net sales were also up, increasing 9 percent to $434.0 million compared to $399.3 million last year.

“Our diverse brand portfolio drove strong growth during the first quarter, including high-20 percent growth in our U.S. direct-to-consumer channels and low-teen percentage growth in our U.S. wholesale channel,” said Tim Boyle, CEO of Columbia, in a statement. “The Columbia, Sorel, Prana and Mountain Hardwear brands each generated double-digit percentage constant-currency net sales growth in North America. We’re also extremely encouraged by our continued progress in our Europe-direct markets, where the Columbia brand drove high 20 percent constant-currency growth.”

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