Columbia Sportswear

First news observations: Google and Microsoft are fighting it out hard. They are both too expensive for me (valuation wise) but the fight is interesting. Google may buy some AOL. Microsoft has been trying to get into AOL too. That's about as direct as you can get. Also, Microsoft is teaming with Yahoo? Looks like Google isn't doing their own thing so much as playing defense.

Also, now that Michael Eisner has retires, Apple and Disney like each other. Also, if prices in October for stocks drop, I think ( a big I think here) stocks will be more fairly valued and a good time to buy the bigger issues.

Back to Columbia:

It's getting to be fall, and winter clothing should do well this year. Although I remain a supporter of Burton (private) and I have mentioned The North Face is part of Greensboro conglomerate VF corporation (see previous posts)...Columbia is well represented in the malls and other highly visible sporting goods stores.

COLM

Yahoo lists their competitors as Nike and Timberland. I don't think so. Not the same at all. However, Similarities are:
Columbia makes sports wear for many big universities like UNC OSU Michigan Washington, ect like Nike.... They also make boots...but they are beyond Timberlands. They also make adventure gear like tents, packs, Hunting camo-s, wet bags for Kayaking, and snowboarding gear....and were one of the first to use GoreTex. On a personal note, I still use a Columbia jacket from ten years ago as a back-up.

Columbia is sold world wide and has room to grow overseas. They could get to a sales level near Nike. The two companies have sililar growth and margins and EPS. Net income is very different because Nike is in the billions. Growth is twice that of Timberland (TBL) although the other numbers are quite the same (P/E both around 13.5--Nike=~16)

Smartmoney's value checker puts COLM's estimated value at $60.....however there was a large valume selloff in May dropping the price from $55.

Opinion: The tenacious Mother Son team is likely to continue the small family feel while going big.