Columbia Sportswear reports 16 percent drop in Q4 profit

Fourth quarter net sales at Columbia Sportswear Company decreased 4 percent to 915.7 million dollars from 954.9 million dollars for the comparable period in 2019. The company said, gross margin expanded 50 basis points to 50.6 percent of net sales from 50.1 percent of net sales for the comparable period in 2019. Operating income decreased 11 percent to 123.7 million dollars or 13.5 percent of net sales, from operating income of 138.6 million dollars or 14.5 percent of net sales, for the comparable period in 2019. Net income decreased 16 percent to 95.8 million dollars or 1.44 dollars per diluted share.