Columbia Sportswear (COLM: Quote) announced after the bell Wednesday that it now expects to report fourth quarter net sales of about $499.0 million to $503.0 million, a decline of about 5% compared with fourth quarter 2011 net sales of $526.1 million. Previous guidance was for net sales growth of up to 1.5%.
Fourth quarter net income of $37.0 million to $40.0 million, compared to its prior outlook of about $44.0 million.
Columbia Sportswear gapped open sharply lower Thursday, but recovered ground as the trading session progressed. Shares finished down by 1.36 at $50.80 on the highest volume of the year. The stock fell to a 4-month low.
by RTT Staff Writer
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