Columbia Sportswear (COLM) Misses Q1 EPS by 59c

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Go back to Columbia Sportswear (COLM) Misses Q1 EPS by 59c

Columbia Sportswear Company Reports First Quarter 2020 Financial Results and Provides Updates on Response to COVID-19

April 30, 2020 4:05 PM EDT

First Quarter 2020 Financial Results and COVID-19 Response Summary
Lower net sales and profitability in first quarter 2020 compared to first quarter 2019 primarily reflects the impact of lower consumer demand resulting from the ongoing COVID-19 pandemic.

Net sales decreased 13 percent to $568.2 million, compared to first quarter 2019. Loss from operations of $(2.0) million, or (0.3) percent of net sales, compared to first quarter 2019 operating income of $88.0 million, or 13.4 percent of net sales. First quarter 2020 loss from operations include a $21.5 million year-over-year increase in bad debt expense and a $9.2 million year-over-year increase in inventory obsolescence... More