Columbia Sportswear Company Announces $200 Million Increase to Stock Repurchase Authorization
August 06 2018 - 6:00PM
Business Wire
Columbia Sportswear Company (Nasdaq:COLM), a leading
innovator in active outdoor apparel, footwear, accessories and
equipment, today announced that its Board of Directors has
authorized the repurchase of up to an additional $200 million of
company common stock in market or negotiated transactions. The
authorization is effective immediately. Year-to-date, the company
has repurchased 939,560 shares, including 398,518 shares since our
last earnings release on July 26, 2018. Currently, the company has
$59.7 million remaining available under the current share
repurchase authorization.
"Because of market opportunities we were on a path to exhausting
the existing authorization more swiftly than anticipated. Our share
repurchase program is an important part of our capital allocation
strategy, and we are pleased we have been able to deliver
additional returns to shareholders by repurchasing shares in the
marketplace. Since 2014, we have repurchased over 3.4 million
shares at approximately $58 per share,” said President and CEO Tim
Boyle. "We remain confident in our long-term sustainable profitable
growth potential and ability to increase total return to
shareholders in the years ahead."
The repurchase program does not obligate the company to acquire
any specific number of shares or acquire shares over any specified
period of time, and the share repurchase program may be commenced,
modified, suspended, or discontinued at any time by the company at
its discretion.
About Columbia Sportswear
Company
Columbia Sportswear Company has assembled a portfolio of brands
for active lives, making it a leader in the global active lifestyle
apparel, footwear, accessories, and equipment industry. Founded in
1938 in Portland, Oregon, the company's brands are today sold in
approximately 90 countries. In addition to the Columbia® brand,
Columbia Sportswear Company also owns the Mountain Hardwear®,
SOREL® and prAna® brands. To learn more, please visit the company's
websites at www.columbia.com, www.mountainhardwear.com,
www.sorel.com, and www.prana.com.
Forward-Looking
Statements
This document contains forward-looking statements within the
meaning of the federal securities laws, including statements
regarding the company’s expectations regarding its long-term growth
potential and ability to increase total return to shareholders.
Forward-looking statements often use words such as "will,"
"anticipate," "estimate," "expect," "should," "may" and other words
and terms of similar meaning or reference future dates. The
company's expectations, beliefs and projections are expressed in
good faith and are believed to have a reasonable basis; however,
each forward-looking statement involves a number of risks and
uncertainties, including those set forth in this document, those
described in the company's Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q under the heading "Risk Factors," and those
that have been or may be described in other reports filed by the
company, including reports on Form 8-K. The company cautions that
forward-looking statements are inherently less reliable than
historical information. The company does not undertake any duty to
update any of the forward-looking statements after the date of this
document to conform them to actual results or to reflect changes in
events, circumstances or its expectations. New factors emerge from
time to time and it is not possible for the company to predict or
assess the effects of all such factors or the extent to which any
factor, or combination of factors, may cause results to differ
materially from those contained in any forward-looking
statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20180806005667/en/
Columbia Sportswear CompanyAndrew Burns, 503-985-4112Director of
Investor Relationsaburns@columbia.com
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