Columbia Sportswear Co. (COLM - Free Report) just released its second quarter fiscal 2017 financial results, posting earnings of a loss of 17 cents per share and revenues of $398.9 million. Currently, COLM is a #3 (Hold) on the Zacks Rank, and is up 0.21% to $57.79 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The sportswear retailer reported earnings of a loss of 17 cents per share, surpassing the Zacks Consensus Estimate of a loss of 20 cents per share. Q2 net loss totaled $11.5 million.
Beat revenue estimates. The company saw revenue figures of $398.9 million, topping our consensus estimate of $394.10 million and growing 3% year-over-year.
Columbia’s U.S. segment reported 4% net sales growth to $238.2 million, consisting of mid-teen percentage growth in direct-to-consumer net sales, partially offset by a high-single-digit percentage decline in wholesale net sales.
Global Columbia brand net sales increased 2% (3% constant-currency) to $340.5 million. In particular, global SOREL brand net sales grew a whopping 71% (74% constant-currency) to $6.0 million.
Looking ahead, Columbia expectsnet sales growth of approximately 3% compared to fiscal 2016, with operating income growth of approximately 3% to between approximately $256 million and $265 million. The company is also projecting net income growth of up to 4% to between approximately $193 million and $200 million, or $2.74 to $2.84 per diluted share.
Here’s a graph that looks at Columbia’s price, consensus, and EPS surprise:
Columbia Sportswear Company is a global leader in design, sourcing, marketing and distribution of active outdoor apparel and footwear, with operations in North America, Europe and Asia. As one of the largest outerwear companies in the world and the leading seller of skiwear in the United States, the company has developed an international reputation across an expanding product line for quality, performance, functionality and value.
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