Columbia Sportswear Updates 2017 Financial Outlook - Quick Facts

(RTTNews) - Columbia Sportswear Company (COLM) announced the company expects its 2017 net income after non-controlling interest to increase up to 4 percent to between approximately $192 million and $199 million, or approximately $2.72 to $2.82 per share. The anticipated growth is expected to occur in the second half.

The company currently expects 2017 net sales growth of approximately 3 percent compared with 2016, including approximately 1 percentage point negative effect from changes in foreign currency exchange rates. The company's U.S. direct-to-consumer channel is expected to account for a majority of the projected full year 2017 global net sales increase.

CEO Tim Boyle stated: "Our updated 2017 outlook anticipates up to 4 percent earnings growth on approximately 3 percent net sales growth, driven by contributions from three of our four brands and all four of our geographic regions. In the midst of changing consumer shopping patterns, our portfolio of powerful brands and strong balance sheet give us the ability to continue to drive sustainable, profitable growth."