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Columbia Sportswear reports 2024 sales dip despite strong Q4

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February 5, 2025

Columbia Sportswear announced on Tuesday net sales decreased 3 percent to $3.37 billion in 2024, compared to 2023, despite a strong fourth quarter. 

Columbia Sportswear reports 2024 sales dip despite strong Q4. – Columbia Sportswear

The Portland, Oregon-based company said net sales for the fourth quarter ended December 31, 2024, increased 3 percent to $1.1 billion, compared to fourth quarter 2023.

The increase was led by the Europe, Middle East and Africa and Latin America, Asia Pacific regions, partially offset by the United States, while sales in Canada were flat year-over-year.

By brand, Columbia sales increased 6 percent to $945 million, with Sorel down 16 percent to $97 million. Smaller brands PraNa and Mountain Hardwear fell 2 percent and increased by 5 percent, respectively.

Net income increased 10 percent to $102.6 million, or $1.80 per diluted share, compared to net income of $93.3 million, or $1.55 per diluted share, for the comparable period in 2023.

“I’m encouraged that sales returned to growth in the fourth quarter, and we expect continued growth in 2025, across most brands and regions,” said chairman, president and chief executive officer Tim Boyle.

“During the year we made substantial progress on our inventory reduction efforts, achieved cost savings through our Profit Improvement Program, and returned meaningful cash to shareholders through share buybacks and dividends. We also laid the foundation for Columbia’s Accelerate Growth Strategy, which will come to life in the seasons ahead.”

Looking ahead to 2025, net sales are expected to increase by 1 to 3 percent, ranging from $3.40 to $3.47 billion. Diluted earnings per share is expected to be $3.80 to $4.15, compared to $3.82 in 2024.

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Fashion

Neutrogena names Tate McRae as new ambassador

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February 5, 2025

U.S. skincare giant Neutrogena has announced the appointment of Tate McRae as its newest brand face, with the Kenvue-owned beauty brand unveiling a new campaign featuring the Canadian pop-star.  

Tate McRae for Neutrogena – Courtesy

As a Neutrogena global ambassador, McRae will be featured in the skincare brand’s marketing initiatives across multiple platforms, including TV, social, digital, point of sale, “and will also integrate the brand into her own future projects,” according to a press release.

Kicking off her ambassadorship, the starlet features in Neutrogena’s new ‘Beauty to a Science’ campaign, which spotlights products from its recognised Hydro Boost range, including the Water Gel. 

“I’m thrilled to partner with Neutrogena – a brand I’ve trusted since I was young. What I love about this campaign is how real it feels. We’ve all been there—those moments where your brain just won’t stop spiraling, and the last thing you need is the overthinking messing up your skin,” said McRae.

“That’s why I’m obsessed with Hydro Boost. It keeps my skin hydrated and is the perfect reminder that skincare doesn’t have to be complicated to work.”

Born in Calgary, Alberta, McRae, 21, has shot to fame in recent years as a chart-topping artist and dancer for her hits including ‘Greedy’ and ‘You Broke Me First,” among other tracks. In February, the singer will release her third album, “So Close to What”, before hitting the road for a world tour.

“By featuring Tate and her infectious energy, alongside Dr. Shah, whose expertise helped to make him the most followed dermatologist on social media, we’re bridging the gap between beauty and science, creating a powerful message for the next generation,” said Andrew Stanleick, Kenvue president of skin health and beauty in North AmericaEuropeMiddle East, and Africa.

“With Neutrogena Hydro Boost, we’re redefining hydration and showing how skincare can empower you to feel your best every day.”

In its most recent trading update in November, parent firm Kenvue Inc. announced third quarter net sales decreased 0.4% to $3.89 billion, on the back of falling skin health and beauty segment sales. 

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Metrocentre starts 2025 with a bang after record-breaking 2024

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February 5, 2025

There’s no let up at Metrocentre. Following a record-breaking 2024 in both sales and footfall for the Gateshead shopping centre, asset manager Sovereign Centros/CBRE says 2025 has begun in a similar vein.

“Our performance shows that visitors want to come here; they have access to best-in-class retail, F&B, and leisure, and this is on track to continue as we kickstart 2025 with a healthy pipeline of new leasing activity,” said centre director Ben Cox.

He cited “proactive asset management”, with nearly 300,000 sq ft of deals completed in the last 12 months, helping to drive a 9.2% year-on-year footfall uplift year to date.

Continued visit growth in January came as Metrocentre announces 2024 figures, having welcomed 15.8 million visitors, a 10% increase on 2023. Sales performance also surpassed the previous year by 5.3%, with Sports Fashion and Health & Beauty experiencing the biggest uplift. Beauty alone saw an increase of 8.2%.

It also noted two million visitors came to Metrocentre in December, up 2.9% vs December 2023, and the final week’s footfall outperformed year-on-year by 30%.

The destination introduced 21 new brands to the centre last year, including Sephora, Mango, and Reiss, alongside regional debuts for Sosandar and GO Outdoors. Retailers River Island, Primark, Victoria’s Secret, and Clarks also demonstrated their commitment to the North East centre, as four of the 17 existing tenants that upsized or refurbished stores “to keep the visitor experience fresh and unique”.

A new NHS Community Diagnostic Centre that launched at Metrocentre, as well as a planned £6 million redevelopment being announced for the Green Mall entrance, are “set to enhance the public realm [and] revitalise a key gateway into the centre”, it also noted.

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Beauty tech firm CurrentBody mulls £350m IPO

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February 5, 2025

Ambitious Beauty Tech Group is working with investment bank Berenberg on plans to float the business on the main London market later this year.

The owner of CurrentBody, ZIIP Beauty and Tria Laser brands is plotting a £350 million IPO, reported Sky News. However details, including the size of any primary share sale, have yet to be finalised, insiders said, with the £350 million figure an estimate.

Manchester-based The Beauty Tech Group, which is run by co-founder and chief executive Laurence Newman, is owned by its management team including fellow co-founder and chief technology officer Andrew Showman and finance chief Sam Glynn together with “a group of high net worth individuals”, the reports said.

The group saw a major increase in revenue last year, with sales passing the £100 million for the first time, up from £80m in 2023. Its revenues comprise just under a quarter from the UK and 77% internationally. Since the beginning of this year, it has been exclusively focused on own-brand sales.

The report says the beauty technology market is projected to grow from £2.7 billion in global sales in 2023 at a compound annual growth rate of up to 17% until 2026, according to PricewaterhouseCoopers.

In a statement to Sky News, Newman said: “2024 was another significant year financially and strategically for the group. We delivered revenue of over £100 million and successfully acquired Tria Laser while also completing the integration of ZIIP Beauty.

He added: “These acquisitions have diversified and increased the group’s product offering across the rapidly growing beauty tech market and, in line with our strategic ambitions, the group is now focused exclusively on own-brand products. I am confident that 2025 will be another record year.”

The business, which describes itself as a global industry leader in home-use beauty technology, is focused on products which use LED, radio frequency, microcurrent and laser treatments. It counts Harrods among its retail partners, while its products are also sold on more than 20 direct-to-consumer websites around the world.

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