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Columbia Sportswear Shows Strength In U.S. & Canada, EMEA Ticks Down

In a report published Friday, D.A. Davidson analyst Andrew Burns reiterated a Buy rating on Columbia Sportswear Company (NASDAQ: COLM), and raised the price target from $53.00 to $55.00.

In the report, D.A. Davidson noted, "COLM reported revenue and EPS of $677.0 million and $0.79, compared to consensus of $635.4 million and $0.67, and our estimates of $637.1 million and $0.64. Guidance called for approximately $636 million and $0.64. Revenue grew 27.0%, driven by 23.4% Columbia brand growth, 39.5% Sorel growth, and a $20.0 million contribution from prAna."

The report continued, "Mountain Hardwear declined 7.2% y/y. By region, the U.S. and LAAP each increased 31.4%, and Canada grew 27.0%, while EMEA ticked down 0.4%. Gross margin expanded 77bp y/y to 45.4%, primarily driven by improved DTC margins (stronger product assortment & lower promotional activity) and a mix shift toward full-price wholesale product. SG&A increased 26.8% y/y to $226.8 million or 33.5% of sales (in line with 33.6% in 4Q13), driven by increased costs associated with the China JV, PrAna, DTC expansion, incentive comp, and the ERP implementation."

Columbia Sportswear Company closed on Thursday at $43.59.

Latest Ratings for COLM

Feb 2015

Citigroup

Maintains

Buy

Jan 2015

Morgan Stanley

Initiates Coverage on

Underweight

Jan 2015

Wells Fargo

Initiates Coverage on

Market Perform

View More Analyst Ratings for COLM
View the Latest Analyst Ratings

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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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