Columbia Sportswear, Big Five Sporting Goods, Briscoe Group Report
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ICAST award winner, Columbia Sportswear Company, has reported record net sales of $675.3 million for the quarter – a 29% increase on the previous comparable period.
The company – a regular at the US fishing trade show –won the Best Footwear Award in the New Product Showcase, in Orlando, Florida, this year and has capped that with an impressive financial performance.
“I am thrilled to announce these outstanding third quarter results which reflect a strong performance by our Columbia and Sorel brands in North American wholesale and direct-to-consumer channels,” said Tim Boyle, the company’s President and Chief Executive Officer.
“In addition, strengthening the brand in our Europe-direct markets and incremental sales from our new China joint venture and recently acquired prAna brand further bolstered top-line growth.”
Boyle added that he saw further improvement in 2015, assuming seasonal weather prevails in key global markets. “Our confidence is based on strong early Fall 2014 sell-through, coupled with a rise in Spring 2015 orders and our plans for continued development of our direct-to-consumer channels.”
US sales increased 26% to €406.3 million, while Latin America/Asia Pacific saw its sales rise by 72% to $123.5 million. Canada also reported a 34% rise to $66.7 million. It was not so good news in Europe, the Middle East and Africa where sales of $78.8 million were just 1% up.
Big Five Sporting Goods reported an increase in sales for the third quarter, but the El Segundo, California, retailer is still down on year-to-date sales.
For the 39-week period ended September 28, net sales were down from $754.3 million in 2013 to $727.5 million with a decrease in like-for-like store sales of 3.7%. In Q3 net sales increased to $265.1 million (2013: $259.1m) and like-for-like store sales grew1%.
The company’s Chairman, President and Chief Executive Officer, Steven G. Miller said that the performance exceeded expectations. “After comparing negatively in the low single-digit range in the first half of the quarter, sales comped positively in the low-mid digit range for the back of the quarter as we benefited from strong sales of summer products and relatively favourable weather.
“We are encouraged that the positive sales trends have continued into the fourth quarter. While the key holiday selling period lies ahead, we believe we are well positioned to drive traffic and sales with a compelling merchandise assortment and exciting promotional plans.”
During the quarter, Big 5 Sporting Goods opened three new stores to take its portfolio of retail outlets to 429. It expects to open another 10 before the end of the financial year.
In New Zealand, the Briscoe Group saw its sporting goods section – the Rebel Sports stores – post a 8.93% increase in sales for the first 39 weeks of the financial year.
It reported a 5.8% increase in unaudited sales of $339.6 million (2013: $320.9m).
Same store sales at its Rebel Sports stores were up 9.21% for the third quarter. Rod Duke, Group Managing Director, said: “We are very pleased with the performance across the third quarter in a market that continues to demand aggressive promotional activity to drive sales.
“As we begin the crucial final quarter, we remain optimistic in our outlook. We are certainly encouraged by our performance to date and are confident that the full year tax paid profit will easily exceed last year’s result of $33.58 million.”