With fourth quarter sales up 4% from the previous year’s same period, Columbia Sportswear said its 2019 sales of over $3 billion was a new record for the company. The company has predicted continued growth for 2020, with net sales of $3.18 to $3.23 billion.
The increase in fourth quarter sales to $954.9 million was in itself a record for the company. Chairman, president and CEO Tim Boyle attributed the numbers to a “challenging retail environment, particularly in outerwear” in the fourth quarter, which “impacted sell-through performance and led to higher levels of promotional activity”.
Congratulating and thanking Columbia employees for the record-breaking year, Mr Boyle also acknowledged the loss of Chairman and matriarch Gert Boyle, ”whose strength and character guided this company for nearly 50 years.” Her image and likeness, he said, will remain an integral part of Columbia branding.
For 2020, the company will invest in brand awareness and sales through focused demand creation investments; enhance consumer experience and digital capabilities in all channels and geographies; expand and improve global direct-to-consumer operations; invest in the company’s people; and optimise the organisation across its portfolio of brands.
Source: Sports Textiles
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