Sorel Drives Columbia Sportswear’s Earnings Beat, Aims to Become a Billion-Dollar Brand
April 29, 2022
Columbia Sportswear just beat earnings expectations for the first quarter, largely driven by its Sorel brand.
The Portland, Ore.-based company reported a net income growth of 20% to $66.8 million in Q1, with diluted earnings per share of $1.03. Net sales increased 22% to $761.5 million, compared to Q1 of 2021. Sales at Sorel jumped 37% to $63.6 million, driven by a strong mix in wholesale and DTC channels. FN