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Jun 30, 2020
Columbia Q2 2020 Earnings Report
Columbia's financial performance was negatively impacted by temporary store closures and reduced consumer demand due to the COVID-19 pandemic.
Key Takeaways
Columbia Sportswear Company reported a decrease in net sales by 40% to $316.6 million compared to Q2 2019, reflecting the impact of temporary store closures and lower consumer demand due to the COVID-19 pandemic. The company's net loss per share was $(0.77), compared to diluted earnings per share of $0.34 in Q2 2019. Despite these challenges, e-commerce net sales increased by 72% year-over-year. The company's financial position remains strong, with $476 million in cash and short-term investments and total liquidity exceeding $1 billion at quarter-end.
Net sales decreased 40 percent to $316.6 million compared to Q2 2019.
E-commerce net sales increased 72 percent year-over-year, partially offsetting brick & mortar store traffic and sales trends that remained well below pre-pandemic levels.
Loss from operations was $70.3 million, compared to Q2 2019 operating income of $16.4 million.
Net loss per share was $(0.77), compared to Q2 2019 diluted earnings per share of $0.34.
Columbia
Columbia
Columbia Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comLatin America and Asia Pacific Revenue
CapyFin.comEurope, Middle East and Africa Revenue
CapyFin.comCanada Revenue
CapyFin.com Forward Guidance
Although uncertainty remains unprecedented, the Company expects sales volume to stay below prior year levels for the balance of the year. Absent further deterioration in trends due to the ongoing pandemic, the second quarter is expected to be the steepest year-over-year quarterly percent decline in net sales of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income