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.