Columbia Sportswear Updates FY21 Outlook

(RTTNews) - Lifestyle products company Columbia Sportswear Co. (COLM) on Thursday updated its full year 2021 outlook and provided an early commentary for fiscal 2022. In fiscal 2021, the company now expects net income between $302 million and $319 million. Earnings per share are anticipated between $4.55 and $4.80. This is higher than the earlier estimate of $287-$304 million and earnings per share between $4.30 and $4.55. Annual sales are expected to rise 21.5-23.0 percent to between $3.04 billion and $3.08 billion. Earlier, sales were expected to rise 25.0-26.5 percent to between $3.13-$3.16 billion from $2.50 billion last year. On average, 11 analysts polled by Thomson Reuters expect the company to post earnings of $4.65 per share on revenues of $3.17 billion for fiscal 2021. For fiscal 2022, the company expects mid-teens percent or better net sales growth.