Tuesday, 01 August 2017 07:40 AM
Research Desk Line-up: Carter's Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 1, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Columbia Sportswear Co. (NASDAQ: COLM), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=COLM. The Company announced on July 28, 2017, that its Senior Vice President of Global Sourcing and Manufacturing, Steve Woodside, is retiring from his position, effective immediately. Steve joined Columbia Sportswear in August 2014 as Vice President of Global Manufacturing and has served as Senior Vice President of Global Sourcing and Manufacturing since May 2015. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Textile - Apparel Clothing industry. Pro-TD has currently selected Carter's, Inc. (NYSE: CRI) for due-diligence and potential coverage as the Company reported on July 27, 2017, its financial results for Q2 FY17. Tune in to our site to register for a free membership, and be among the early birds that get our report on Carter's when we publish it.
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Columbia Sportswear has started searching for a suitable successor.
Commenting on Steve's retirement plan from the Company, Tom Cusick, Vice President and Chief Operating Officer of Columbia Sportswear, said:
"I am thankful for Steve's contributions over the past three years, during which he advanced our sourcing strategy and strengthened strategic partnerships with our contract manufacturers and raw materials vendors globally."
He further added:
"I want to thank Steve for his leadership and wish him well in future endeavors."
Strategic Realignment of Corporate Leadership Team
On June 06, 2017, Columbia Sportswear announced a strategic realignment of its corporate leadership team as part of the organizational assessment launched by the Company in Q1 2017. Bryan Timm stepped down from his role as President and Chief Operating Officer on May 16, 2017, after serving the Company for 20 years. Several members of the senior leadership team have been elevated to new roles, effective from July 01, 2017.
- Tim Boyle, who served as Chief Executive Officer of the Company since 1988, has resumed the role of President, which he previously held until 2015, in addition to his role as CEO.
- Tom Cusick has been promoted to Executive Vice President and Chief Operating Officer. Cusick is a 14-year company veteran who served as Executive Vice President of Finance and Chief Financial Officer since 2015
- Peter Bragdon, a 15-year company veteran who has served as Executive Vice President, Chief Administrative Officer, General Counsel, and Secretary of Columbia Sportswear since 2015, has assumed oversight of the Company's International Distributor Business.
- Franco Fogliato has been promoted to Executive Vice President, Americas General Manager.
- Joe Boyle has been promoted to Executive Vice President, Columbia® Brand President.
- Doug Morse was promoted to Senior Vice President, Emerging Brands and APAC.
- Matthieu Schegg has been promoted to Vice President, EMEA General Manager.
Reshuffling of Managerial Positions
On June 14, 2017, Columbia Sportswear appointed Jim Swanson as Columbia Sportswear's Senior Vice President and Chief Financial Officer, and Peter Rauchas as the Company's Senior Vice President and Chief Transformation Officer.
About Columbia Sportswear Company
Founded in 1938 in Portland, Oregon, Columbia Sportswear Company is a leading innovator in the global apparel, footwear, accessories, and equipment markets. The Company designs, develops, markets, and distributes active outdoor and lifestyle products under Columbia®, Mountain Hardwear®, SOREL®, prAna®, and OutDry® brands. The Company's brands are sold in approximately 90 countries.
Last Close Stock Review
At the closing bell, on Monday, July 31, 2017, Columbia Sportswear's stock dropped 2.31%, ending the trading session at $60.58. A total volume of 423.64 thousand shares have exchanged hands, which was higher than the 3-month average volume of 197.97 thousand shares. The Company's stock price rallied 8.06% in the last three months, 11.85% in the past six months, and 5.82% in the previous twelve months. Moreover, the stock gained 3.91% since the start of the year. The stock is trading at a PE ratio of 22.22 and has a dividend yield of 1.19%. The stock currently has a market cap of $3.92 billion.
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