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Columbia Sportswear Company Message Board

  • eclipse574 eclipse574 Apr 28, 2008 5:35 PM Flag

    Lets have a discussion about COLM

    With book value per share at $27 and cash per share a $7.79 with no debt I don't see COLM going down from here ($41). This is a great brand name with insiders holding 64% and they are still buying, this has to tell you something. If COLM declines significantly (to the $35 range), I will look to add a position. I only see it going down if we slip into a deep recession. Any thoughts of a share buy back? they have the cash to do it or maybe at least increase the dividend. What are your thoughts? this message board is empty except for spammers.

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    • When one looks at the pure numbers COLM looks like a solid company. However, the critical questions are: is the brand selling well at retail (selling through), how is the company fullfillment (on time deliveries)? Who are the critical competitors and how do they stack up against COLM? Is the brand working at the key retailers as well as TNF (The North face)?

      If the brand is not selling well at retail, then every metric is impacted. There are brands that are doing well in this tough economy, COLM is not one of them.

      The plan to open retail stores will take at least 3-4 quarters to have any impact.

    • I bought a position when it hit 34 and will see how its next earnings report looks before selll=ing it or buying more.

    • Thanks for the insightful comments.

      Here is an interesting comparison.

      COLM & Nike are both based in Portland Oregon area, both have strong brands, have similar target markets & growth patterns. Per Share,COLM has a much stronger balance sheet (Albeit Nike is 14 times as large).
      NKE COLM
      rev per shr $36.96 $37.71
      EPS $ 3.74 $ 3.82
      Book Val $15.88 $27.45

      Shr price $56.26 $34.19

      In theory Nike could buy or merge at high premium and still get a great deal.

      COLM's retail outlet plans have analysts spooked. But again this looks like the Nike model. I'm not suggesting a buyout, just a comparison to show COLM as a bargain.

    • glamglossglitz Jul 11, 2008 10:55 AM Flag

      While I agree that COLM is essentially safe if you like dividend paying stocks, u must be aware that the competitive landscape is brutal. Under armor is currently cleaning their clock in clothing and how can anyone make money is hiking boots with every counterfeiter in the world knocking off your product?

      This stock has been in secular decline for five years. In order to gain value for shareholders, the company will have to sell itself to someone else or have the economy rebound sharply so that all specialty retailers get lifted.

      Don't get me wrong, I love the products and I own the shares. I simply do not see any reason for the stock to trade up any time soon.

      • 1 Reply to glamglossglitz
      • I think you're confusing a stock *price* decline with a decline in the fortunes of the company. It's true that over the past five years the stock price has dropped about 25%. But the company itself has done very well. From 2002 to 2007, earnings increased by 40% and book value increased by over 100%.

        So I would suggest that COLM went from being an overpriced growth stock in 2002 to a growth stock selling at a deep discount today.

    • Eclipse: It looks like you have some insight into the basic deal of why COLM is a great stock at this price... good to see someone on this board actually wanting to type a note on Colm.

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