March 14, 2008
Two of Columbia’s top executives bought thousands of the company’s shares last month, one of them being the CEO himself, Tim Boyle. Back in February, Boyle bought 10,700 shares at between $41.59 and $42.50 a share. Boyle now owns 14.7 million shares of the approximate 36 million shares Columbia has to offer.
The other stock happy executive is Columbia’s vice president of sales, Mick McCormick. In early February, McCormick purchased 2,500 shares for $40.73 per share.
Both of these stocks were purchased just after a 52-week low for Columbia. In late January, Columbia’s shares were selling for $34.65 per share. Less than a year ago, Columbia’s stocks hit the $70 per share mark.
March 12, 2008
Patrick D. Anderson, who has been the chief operations officer for six years, resigned from the company according to a Securities and Exchange Commission filing. Anderson began his tenure at Columbia in June of 1992 as manager of financial reporting, became a Corporate Controller in August of 1993, Chief Financial Officer of the Company in December 1996 and was appointed Chief Operating Officer in 2002. According to the filing, his last day as an employee will be after a yet to be determined transition period, but will be no later than April 30, 2008.
Check it out in the Oregon Business Journal here
March 11, 2008
Effective May 1, 2008 all major functions of Montrail Inc. will be realigned under the management of Mountain Hardwear Inc., a subsidiary of Columbia Sportswear. Mountain Hardwear is well established in the outdoor industry as one of the leaders of high-end mountaineering and outdoor apparel, accessories and equipment. Montrail products will function under Columbia Sportswear corporate management in Portland, Oregon. The U.S. product distribution and shipping will continue to be processed through the company’s Kentucky facility.
The president of Mountain Hardwear, Mike Wallenfels will oversee operations of the Montrail brand. According to a Yahoo business article, he said the move is designed to better align the two brands and streamline operations by maximizing marketing resources for long-term success.
Columbia’s CEO Tim Boyle explained his confidence in the move by saying “We see this as an ideal marriage of two specialty brands. The Mountain Hardwear customer and the Montrail customer are often the same and the management team at Mountain Hardwear knows that demographic very well. By moving Montrail under Mountain Hardwear’s leadership we can best serve our retailers while keeping a focus on creating innovative products.”
March 6, 2008
Reports surfaced last Friday that Columbia’s CEO Tim Boyle is concerned with the sluggish size of his annual sales coming out his European market. This region that is not only much more popular than America, but according to Boyle they also have much more of an outdoor ethic than we do in America. This populated region, which includes Europe, the Middle East and Africa accounts for 21 percent of Columbia’s annual sales. A number that Boyle feels should be much higher.
As a result, Boyle has recently:
- Tweaked Columbia’s overseas marketing efforts.
- Sent senior executives to key markets.
- Began seeking more continuity between the way it does business here and abroad.
- Started looking for ways to collect better data from European retailers.
As uplifting as these actions may seem, Columbia still needs to address some various marketing challenges. Boyle must keep in mind that there are no European-wide television stations, making TV advertising more expensive and there are also few publications that distribute throughout Europe.