Why Columbia Sportswear Stock Rose 19% in February
Shares of clothing maker Columbia Sportswear (NASDAQ: COLM) jumped 19% in February according to data from S&P Global Market Intelligence. There was a notable price increase early in the month, with the gains holding through to the end. It was all about earnings, sort of.
Columbia Sportswear's fourth-quarter 2020 sales decreased 4% year over year, which isn't too bad given the coronavirus pandemic backdrop. Online sales increased a hefty 41%, though that was clearly offset by declines in brick-and-mortar stores, as you would expect. The earnings picture wasn't nearly as sanguine, however, with a 14% year-over-year drop in the quarter. Still, the quarter was pretty solid given the environment at hand.
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Source Fool.com
