In the fourth quarter (Q4) of FY21 which ended December 31, 2021, the company’s net sales increased 23% to a record $1,129.7 million, compared to Q4 2020 Its operating profit rose 71% to $211.6 million in the fourth quarter of FY21 from $123.7 million in the fourth quarter of FY20, the company said in A press release.
The company’s diluted earnings per share increased 66% to $2.39 in Q4 FY21 from $1.44 in Q4 FY20. Additionally, on January 28, 2022, the Board of Directors approved a 15% increase in the quarterly dividend to $0.30 per share.
Columbia Sportswear, an American manufacturer and marketer of outerwear, athletic apparel and footwear, forecasts net sales growth of 16-18% to $3.63-3.69 billion over the next fiscal 22, compared to $3.13 billion recorded in fiscal 2021. It expects net profit of $359. to $379 million, resulting in diluted earnings per share of $5.50 to $5.80 for FY22.
For FY21, the brand’s net sales increased 25% to a record $3,126.4 million, compared to FY20. Its gross margin increased 270 basis points to 51.6%, compared to 48.9% of net sales for the comparable period in 2020. operating income increased by 229% to $450.5 million, compared to $137 million in fiscal 2020- 2021. Overall, the company’s net income increased 228% to $354.1 million, or $5.33 per diluted share, from net income of $108 million, or $1.62 per diluted share. diluted share for the comparable period in 2020.
Company Chairman, President and CEO Timothy Boylesaid, “The fourth quarter and full year financial results were exceptional. The record financial performance reflects the strength of our brands and the tremendous efforts and resilience of our employees globally. outlook driven by outperformance of DTC and a very favorable full-price selling environment, which benefited gross margin Throughout the season, our sell-through rates in fall 2021 were exceptional, including the global launch success of Omni-Heat Infinity.
Boyle added, “As we enter 2022, we are strongly focused on exploiting the growth opportunities we see across the business while mitigating supply chain and inflationary pressures. Our powerful portfolio of brands is well positioned to connect active people to their passions and capitalize on the popularity of outdoor activities. Our outlook for 2022 calls for net sales growth of 16-18%, in addition to 25% growth in 2021.”
The Columbia Sportswear Company repurchased 1,655,407 shares of common stock for a total of $165.9 million, at an average price per share of $100.23 during the year, while $316.3 million remained available under its current share buyback authorization as of December 31, 2021.
Fibre2Fashion (SF) News Desk