The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PORTLAND, United States — Columbia Sportswear Co. on Thursday reported fourth-quarter net income of $84.7 million.
On a per-share basis, the Portland, Oregon-based company said it had profit of $1.20.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The maker of outdoor gear posted revenue of $717.5 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $755.1 million.
ADVERTISEMENT
For the year, the company reported profit of $191.9 million, or $2.72 per share. Revenue was reported as $2.38 billion.
Columbia Sportswear expects full-year earnings to be $2.72 to $2.82 per share.
Columbia Sportswear shares have fallen nearly 9 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $53.29, a rise of 14 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.