Net income increased by 20 percent to $ 66.8 million compared to net income of $ 55.9 million for the comparative period of 2021. The growth in net sales was driven by strong consumer demand and deliveries of higher orders in the spring of 2022 with growth across all brands and channels and geography.
Chairman, President and CEO Tim Boyle commented in a release: “Our strong financials in the first quarter, including 22% net sales and 23% earnings per share growth, confirm our strategies and demonstrate that our brands are finding feedback from consumers.”
Columbia Sportswear, a leading U.S. innovator in clothing, footwear, accessories and leisure equipment, active and daily lifestyles, reported record sales growth of 22% for the first quarter (1st quarter) of fiscal year 2021, ending March 31, 2022. Net sales rose to $ 761.5 million from $ 625.6 million in the first quarter of last year.
In terms of brands, Sorel sales grew 37 percent to $ 63.6 million ($ 46.3 million), driven by growth in the first quarter of 2222, while Columbia sales grew 22 percent to $ 643.8 million ( $ 527.4 million). Moreover, sales of the Prana and Mountain Wear brands grew by 4 and 5 percent, respectively.
In terms of location, the U.S. rose 23 percent to $ 501.9, followed by Latin America and the Asia-Pacific region, which rose 9 percent to $ 121.7 million. Europe, the Middle East and Africa reported record sales growth of 34 percent to $ 94.7 million, while sales from Canada rose 26 percent to $ 43.2 million.
“Sorel was in the lead with 37 percent growth over the same period last year, despite supply problems, underscoring the phenomenal demand for year-round brand styles. We are confident in our ability to realize the material growth opportunities that lie ahead, and that confidence is reflected in our buyout of more than $ 200 million in common stock over the quarter, ”Boyle added.
The company expects sales to grow 16-18 percent to $ 3.63-3.69 billion in 2022 from $ 3.13 billion in 2021, and net income is expected to be $ 363-382 million .
Fibre2Fashion (HO) News Department
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