Retail businesses have taken a significant hit during the last few months. The pandemic has confined people to their homes, and footfalls in places like malls and high streets have seen significant drops. A footwear company like Columbia Sportswear might not be high on your list for potential investments. However, Columbia Sportswear Company has had a good year. Besides Nike, it could potentially be one of the best footwear stocks to buy. Sportswear has evolved into becoming more fashion-oriented rather than purely performance-oriented. In that regard, acquisitions like Prana are poised to play a crucial role in the future growth of Columbia Sportswear.
Columbia Manages To Hire Nike Exec
Recently, Columbia Sportswear hired Craig Zanon as the senior vice president for emerging brands. Craig, an employee of Nike for twenty years, last served as vice president and the general manager of the global basketball division at Nike. Columbia brought him in because the company’s senior vice president for emerging brands, Doug Morse, was retiring. Columbia Sportswear CEO Tim Boyle said, “Craig brings a wealth of experience that will help us continue the growth trajectory of Sorel, Mountain Hardwear, and Prana.” Meanwhile, Craig Zanon commented, “After a year like 2020, it will be a welcome challenge to help drive growth at Sorel, Mountain Hardwear, and Prana.” The ability to attract talented and experienced human capital makes Columbia Sportswear one of the best apparel stocks to buy now.
Best Footwear Stocks To Buy
Columbia Sportswear Company’s stock closed at $104.53 on 1st April 2021. The stock was trading up almost 2% on a 1-month basis. On a 1-year basis, the stock has risen by close to 59%, while on a 5-year basis, the stock is up almost 79%. Columbia Sportswear did experience a 30%+ fall during the pandemic-driven market crash in early 2020.
