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Columbia Sportswear to invest in strategic priorities

  

Columbia Sportswear Company will continue to invest in strategic priorities besides focusing on cost cutting. Second quarter sales, that ended on June 30, 2020, declined by 40 per cent to $316.6 million. The company incurred a net loss of $50.7 million compared to net income of $23.0 million in Q2 FY19. The company’s gross profit during Q2 FY20 declined to $146.2 million while its selling, general and administrative expenses declined to $217.6 million. Its loss from operations declined to $70.3 million.

The company’s sales in all its geographical regions reported a decline. While sales in the US fell by 42 per cent to $183.2 million, those in the LAAP region slipped by 34 per cent to $67.4 million. Sales in the EMEA region dropped by 36 per cent to $58.3 million while those in Canada decreased to $7.7 million.

Sale of Columbia’s brands declined 42 per cent to $265.8 million. The sales of Sorel brand declined to $13.3 million while those of Prana brand declined to $27.7 million. Apparel, accessories and equipment sales during the quarter plunged by 44 per cent to $243.8 million whereas footwear sales came down to $72.8 million.

 
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