16 minutes ago | By Petah Marian
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Oct 29, 2015
By Petah Marian
Columbia Sportswear raised its full-year guidance for the third time after Q3 profit rose 39%.
The athletic and outdoorwear brand said that earnings jumped to $91.1m over the quarter ended September 30, from $65.6m a year ago. Sales increased 16% to $767.6m.
Columbia said that “better supply chain execution resulted in more timely delivery of wholesale customers’ fall advance orders,” leading to higher volumes. It also recorded a resurgence in European direct markets.
It increased its full-year earnings estimate to $2.32-237 per share from its previous range of $2.25-2.35. It expects sales growth of about 10.5%, to more than $2.3bn.
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