Columbia Sportswear Q1 sales fall 13 percent

Columbia Sportswear Company’s net sales decreased 13 percent to 568.2 million dollars for the first quarter of 2020. The company said in a statement that gross margin contracted 360 basis points to 47.8 percent of net sales from 51.4 percent of net sales for the comparable period in 2019. Loss from operations was 2 million dollars or 0.3 percent of net sales, compared to operating income of 88 million dollars or 13.4 percent of net sales, for the comparable period in 2019. Net income decreased 100 percent to 0.2 million dollars from 74.2 million dollars or 1.07 dollars per diluted share, for the comparable period in 2019.