Columbia Sportswear 2000 Annual Report Download - page 2

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Shareholders and friends,
I am pleased to report on yet another
successful year of operations for Columbia
Sportswear Company®. In fact, strong
quarterly financial performance throughout
the year culminated in record financial results
for the Company’s fiscal year 2000 with revenue up 30.7% to
$614.8 million, and net income up 77.6% to $58.6 million.
The key to this success has been our continued focus on each of
our frequently articulated growth strategies. Specifically, a
continued emphasis on enhancing the retail productivity of our
customers through the use of media advertising and retail
marketing programs has helped lead to significant increases in
our sportswear and footwear businesses over the last several years.
With sportswear revenue of $203 million for 2000, and footwear
revenue of $68.9 million, we are on the correct path as the
Columbia Sportswear brand continues to gain momentum in
these important product categories. Moreover, the emphasis on
enhancing the productivity of our retail customers has also had a
profound influence on our ability to drive growth throughout
Europe, where we were able to grow revenue by 43.9% during
2000 to $59 million from $41 million for 1999. Finally, our
focus on selectively broadening the Company’s retail distribution
network resulted in the addition of some important new
customers in multiple countries for the Company both in the
department store and specialty footwear channels.
During 2000 we undertook a number of initiatives that we
believe will assist in ensuring that we have an adequate
foundation for future growth. The election of Walter Klenz,
Chairman and Chief Executive Officer of Beringer Wine Estates,
to the Columbia Sportswear Board of Directors complements our
current slate of directors and provides Columbia with additional
outside brand building and marketing experience. Further, our
acquisition of the Sorel®brand intellectual property allows us to
leverage our competitive advantages in sourcing and provides us
with an opportunity to explore new channels of retail distribution
without compromising the Columbia brand. Internationally, the
Sorel name has been associated with the design and creation of
durable, cold weather footwear for nearly 40 years. Sorel’s
reputation as a quality, value-oriented brand is a superb fit with
Columbia’s footwear business.