Apparel Online Bangladesh Magazine June Issue 2018 | Page 76
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Columbia Sportswear's net sales zoom
12% to US $ 607.3 million in Q1
Columbia Sportswear Company,
a global leader in active lifestyle
apparel, footwear and accessories,
has reported better than expected
net sales and profitability as it
announces financial results for
the first quarter ending March 31,
2018.
During the period under review,
its net sales increased by 12 per
cent to a record US $ 607.3 million
as compared to US $ 543.8 million
in the corresponding period last
year. Net sales on non-GAAP basis
registered a 10 per cent increase
and 7 per cent on a constant-
currency basis to US $ 599.0
million. Operating income in the
reporting period marked a 24 per
cent increase to US $ 59.3 million
from US $ 48.0 million in the
corresponding period last year
while inventory increased by
2 per cent to US $ 406.0 million as
compared to US $ 398.8 million in
the same period last year.
The apparel retailer further noted
a 25 per cent increase in its net
income to US $ 45.1 million in the
reporting quarter from US $ 36.0
million in the same quarter last
year. Net income on non-GAAP
basis totalled US $ 36.9 million
in the quarter under review.
Region-wise, Columbia Sportswear
reported a 9 per cent increase
in net sales in the US where it
operates a total of 130 retail
outlets. Net sales in Latin America
Asia Pacific (LAAP) increased
by 11 per cent and 4 per cent on
non-GAAP basis. In Europe, direct
and modest growth with Europe,
the Middle East and Africa (EMEA)
distributors noted a 30 per cent
increase in net sales; while Canada
reported an 11 per cent increase in
net sales during the first quarter.
In view of the positive results in
the first quarter, the retailer has
now increased its full year 2018
financial outlook. It expects non-
GAAP net sales growth of around
6.5 to 8.5 per cent.
John Lewis starts JLAB innovation programme to
enhance retail experience
UK-based retail chain John
Lewis, in association with
True – Europe’s only retail
and consumer sector specialist
operating across the entire
investment vertical, has announced
a unique retail tech innovation
programme, JLAB. Those who
have a great understanding of
retail technology are advised
to participate in the start-up
innovation programme, JLAB.
The innovation project has been
running since 2014 and sees
start-ups and small companies
pitch in to the retail giant
for mentorship, investment
and guidance. The successful
business or businesses will be
announced at a showcase later in
the year.
JLAB from the John Lewis
Partnership helps start-ups
shape retail experiences of the
future. Lots of changes to JLAB
2018 edition have been proposed.
Unlike previous years, this 2018
edition will run throughout the
76 Apparel Online Bangladesh | JUNE 2018 | www.apparelresources.com
year rather than as a one-off 12
week innovation programme.
As one of the largest innovation
programmes in the UK, it will have
various activities this year. Both
established businesses and new
start-ups will get three chances
this year to participate, with the
first pitch focused on health and
well-being. A variety of benefits
including expert advice and
mentorship from John Lewis and
senior leaders of Waitrose, a chain
of British supermarkets, will be
accessible to successful applicants.
Markedly, John Lewis Partnership
operates 49 shops across the UK,
johnlewis.com, 352 Waitrose
shops, waitrose.com and
business-to-business contracts.