MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Columbia Sportswear, Deckers Outdoor Corporation and True Religion reported earnings this afternoon.
Here’s a roundup of their results that gives a sense if consumers are spending on discretionary items these days.
Columbia recorded a sales increase but its loss widened.
Total net sales: up 21% to $268 million
Gross margin: down to 41.9% vs. the same period last year
Net loss: $13.6 million vs. $10.6 million
Columbia brand: up 20% to $239.1 million
Mountain Hardwear brand: up 24% to $22.7 million
Sorel brand: up 106% to $3.7 million
Sportswear sales: up 12% to $136.2 million
Outerwear sales: up 43% to $62.1 million
Footwear sales: up 29% to $50 million
Accessories and equipment: up 11% to $19.7 million
Deckers recorded a larger than expected sales increase, which led to a smaller net loss than expected.
Net sales: up 12.5% to $154.2 million
Gross Margins: 42.7% vs. 44.3% the same period last year
Net loss: $7.5 million. The bottom line was impacted by costs of converting from a distributor to wholesale model in the U.K. and Benelux. However, net loss was less than expected.
UGG brand: up 8% to $108.3 million
Teva brand: up 29.1% to $40.3 million
Retail sales: up 102.2% to $20.1 million. Same store sales up 23.6%
Ecommerce: up 10.3% to $5.7 million
Full year guidance: Deckers upped its estimate to a revenue increase of 26% for the year from a previous prediction of a 21% increase. Sanuk should add in the low $20 million range to revenues in the second half. Earnings per share should increase 17% from 2010 vs. the previous guidance of a 13% increase.
See Page 2 for True Religion