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Columbia Sportswear Company Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 8, 2012 02:24PM

Columbia Sportswear Company (COLM) filed Quarterly Report for the period ended 2012-06-30. Columbia Sportswear Company has a market cap of $1.76 billion; its shares were traded at around $53.38 with a P/E ratio of 17.4 and P/S ratio of 1. The dividend yield of Columbia Sportswear Company stocks is 1.7%.



Highlight of Business Operations:

SG&A expense decreased to 45.9% of net sales for the second quarter of 2012 from 50.2% of net sales for the comparable period in 2011. Depreciation and amortization included in SG&A expense totaled $9.7 million for the second quarter of 2012, compared to $10.4 million for the same period in 2011.

Net sales in the United States increased $3.6 million, or 1%, to $325.1 million for the six months ended June 30, 2012 from $321.5 million for the comparable period in 2011. The increase in net sales in the United States consisted of a net sales increase in apparel, accessories and equipment, partially offset by decreased net sales of footwear. The net sales increase consisted of a net sales increase in our direct-to-consumer business, partially offset by a net sales decrease in our wholesale business. The net sales increase in our direct-to-consumer business was primarily concentrated in the Columbia brand and was driven by increased net sales within our retail stores, offset by decreased e-commerce net sales. At June 30, 2012, we operated 55 retail stores, compared with 48 at June 30, 2011.

Net sales of apparel, accessories and equipment increased $28.5 million, or 6%, to $525.2 million for the six months ended June 30, 2012 from $496.7 million for the comparable period in 2011. The increase in apparel, accessories and equipment net sales was concentrated in the Columbia brand, and was led by the EMEA region, followed by the LAAP region and the United States, partially offset by a net sales decrease in Canada. The apparel, accessories and equipment net sales increase in the EMEA region consisted of an increase in net sales to our EMEA distributors, partially offset by a net sales decrease in our direct business. The apparel, accessories and equipment net sales increase in the LAAP region was led by Japan, followed by Korea and our LAAP distributor business. The net sales increase in apparel, accessories and equipment in the United States consisted of increased sales in our direct-to-consumer business, partially offset by a net sales decrease in our wholesale business.

Net sales of footwear decreased $6.1 million, or 6%, to $98.3 million for the six months ended June 30, 2012 from $104.4

Selling, General and Administrative Expense: SG&A expense increased $9.0 million, or 3%, to $277.7 million, or 44.5% of net sales, for the six months ended June 30, 2012, from $268.7 million, or 44.7% of net sales, for the comparable period in 2011. The SG&A increase was primarily due to:

Read the The complete Report



Stocks Discussed: COLM,
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