Columbia Sportswear Co
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Consumer Discretionary : Textiles, Apparel & Luxury Goods | Mid Cap Blend
Company profile

Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada. The Company develops and manages its merchandise in categories, including apparel, accessories and equipment, and footwear. It distributes its products through a mix of wholesale distribution channels, its own direct-to-consumer channels (retail stores and e-commerce), independent distributors and licensees. As of December 31, 2016, its products were sold in approximately 90 countries. In 59 of those countries, it sells to independent distributors to whom it has granted distribution rights. Contract manufacturers located outside the United States manufacture all of its products.

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Nio's stock tumbles after wider-than-expected loss, but revenue tops forecasts

7:50 am ET March 18, 2020 (MarketWatch)

Shares of Nio Inc. (NIO) tumbled 13% in active premarket trading Wednesday, after the Shanghai-based electric vehicle maker reported a wider-than-expected fourth-quarter loss, but revenue that fell less than forecast. The net loss narrowed to RMB2.89 billion ($412 million), or RMB2.81 per ordinary share, from RMB3.52 billion, or RMB3.37 a share, in the year-ago period. Excluding non-recurring items, adjusted loss per share was RMB2.73, compared with the FactSet loss consensus of RMB1.85. Total revenue fell 17% to RMB2.85 billion, just above the FactSet consensus of RMB2.83 billion, has vehicle sales dropped 21% and vehicle margin swung to negative 6.0% from positive 3.7%. Deliveries increased to 8,224 from 4,799 in the third quarter and from 7,980 a year ago. "We started 2020 in a challenging environment due to the COVID-19 outbreak," said Chief Executive William Bin Li. "While we keep safety and health of our global employees a top priority, our teams strive to resume productions, expand our traffic channels, integrate our online and offline sales efforts and offer best services possible to bring business and operation back to normal." The stock has lost 23.7% over the past month through Tuesday, while shares of U.S. rival Tesla Inc. (TSLA) has tumbled 49.9% and the S&P 500 has lost 25.0%.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

March 18, 2020 07:50 ET (11:50 GMT)

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