Columbia Sportswear Company Reports Third Quarter 2024 Financial Results; Updates Full Year 2024 Financial Outlook
Third Quarter 2024 Highlights
-
Net sales decreased 5 percent (5 percent constant-currency) to
$931.8 million -
Operating income was
$112.5 million $134.6 million -
Diluted earnings per share of
$1.56 $1.70 -
Exited the quarter with
$373.9 million -
Repurchased
$230.9 million $600 million -
Announces the ACCELERATE Growth Strategy, intended to elevate the
Columbia brand.
Full Year 2024 Financial Outlook
The following forward-looking statements reflect our expectations as of October 30, 2024 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2024 Financial Outlook section below and the CFO Commentary and Financial Review presentation.
-
Net sales of
$3.31 $3.38 billion $3.35 $3.42 billion -
Operating income of
$257 $284 million $256 $288 million -
Diluted earnings per share of
$3.70 $4.05 $3.65 $4.05
Chairman, President and Chief Executive Officer Tim Boyle commented, “Third quarter results reflect ongoing strength in most international markets, offset by continued softness in
“In recent months, the Columbia brand embarked on ACCELERATE, a growth strategy intended to elevate the brand and attract younger and more active consumers. This multi-year strategy will be centered around several consumer-centric shifts across our brand, product and marketplace strategies. I’m confident the ACCELERATE Growth Strategy will enable brand-right profitable growth and I’m eager to see it come to life in the seasons ahead.
“Our financial position remains strong, with cash and short-term investments of over
- accelerate profitable growth;
- create iconic products that are differentiated, functional and innovative;
- drive brand engagement through increased, focused demand creation investments;
- enhance consumer experiences by investing in capabilities to delight and retain consumers;
- amplify marketplace excellence, with digitally-led, omni-channel, global distribution; and
- empower talent that is driven by our core values, through a diverse and inclusive workforce."
CFO's Commentary and Financial Review Presentation Available Online
For a detailed review of the Company's third quarter 2024 financial results, please refer to the CFO Commentary and Financial Review presentation furnished to the Securities and Exchange Commission (the "SEC") on a Current Report on Form 8-K and published on the Investor Relations section of the Company's website at http://investor.columbia.com/financial-results at approximately 4:15 p.m. ET today. Analysts and investors are encouraged to review this commentary prior to participating in our conference call.
ACCELERATE Growth Strategy
ACCELERATE is a growth strategy intended to elevate the Columbia brand to attract younger and more active consumers. It is a multi-year effort centered around several consumer-centric shifts to our brand, product and marketplace strategies, as well as enhanced ways of working. For more information on the ACCELERATE Growth Strategy, please refer to the CFO Commentary and Financial Review presentation.
Third Quarter 2024 Financial Results
(All comparisons are between third quarter 2024 and third quarter 2023, unless otherwise noted.)
Net sales decreased 5 percent (5 percent constant-currency) to
Gross margin expanded 150 basis points to 50.2 percent of net sales from 48.7 percent of net sales for the comparable period in 2023. Gross margin expansion primarily reflects lower inbound freight costs and favorable channel and region net sales mix, partially offset by unfavorable FX hedging rates.
SG&A expenses were
Operating income was
Interest income, net of
Income tax expense of
Net income was
First Nine Months 2024 Financial Results
(All comparisons are between the first nine months 2024 and the first nine months 2023, unless otherwise noted.)
Net sales decreased 6 percent (6 percent constant-currency) to
Gross margin expanded 60 basis points to 49.8 percent of net sales from 49.2 percent of net sales for the comparable period in 2023.
SG&A expenses were
Operating income was
Interest income, net was
Income tax expense of
Net income was
Balance Sheet as of September 30, 2024
Cash, cash equivalents, and short-term investments totaled
The Company had no borrowings as of either September 30, 2024 or September 30, 2023.
Inventories decreased 10 percent to
Cash Flow for the Nine Months Ended September 30, 2024
Net cash used in operating activities was
Capital expenditures totaled
Share Repurchases for the Nine Months Ended September 30, 2024
The Company repurchased 2,916,970 shares of common stock for an aggregate of
At September 30, 2024,
Quarterly Cash Dividend
The Board of Directors approved a regular quarterly cash dividend of
Full Year 2024 Financial Outlook
(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)
The Company's full year and fourth quarter 2024 Financial Outlooks, as well as first half 2025 commentary, are each forward-looking in nature, and the following forward-looking statements reflect our expectations as of October 30, 2024 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. These risks and uncertainties limit our ability to accurately forecast results.
Net sales are expected to decrease 5.0 to 3.0 percent (prior decrease of 4.0 to 2.0 percent), resulting in net sales of
Gross margin is expected to expand 40 to 90 basis points (prior 40 to 60 basis points) to 50.0 to 50.5 percent of net sales (prior 50.0 to 50.2 percent) from 49.6 percent of net sales in 2023.
SG&A expenses, as a percent of net sales, are expected to be 42.8 to 43.0 percent (prior 42.4 to 43.0 percent), compared to SG&A expense as a percent of net sales of 40.6 percent in 2023.
Operating income is expected to be
Interest income, net is expected to be approximately
Effective income tax rate is expected to be 24.0 to 25.0 percent (unchanged).
Net income is expected to be
Foreign Currency
- Foreign currency translation is expected to have a modestly unfavorable impact on full year net sales.
-
Foreign currency is expected to have an approximately
$0.01 $0.07
Cash Flows
Operating cash flow is expected to be at least
Capital expenditures are planned to be in the range of
Fourth Quarter 2024 Financial Outlook
-
Net sales are expected to be
$1,040 $1,110 million $1,060 million -
Operating income is expected to be
$123 $151 million -
Diluted earnings per share is expected to be
$1.68 $2.03 $1.55
Preliminary First Half 2025 Commentary
- Based on our Spring ‘25 orderbook, we are forecasting mid-single-digit percent growth in global wholesale net sales in first half 2025.
-
This reflects growth across all regions, and in the
Columbia , prAna and Mountain Hardwear brands.
Conference Call
The Company will hold its third quarter 2024 conference call at 5:00 p.m. ET today. Dial (888) 506-0062 to participate. The call will also be webcast live on the Investor Relations section of the Company's website at http://investor.columbia.com.
Fourth Quarter 2024 Reporting Date
The Company plans to report fourth quarter 2024 financial results on Tuesday, February 4, 2025 at approximately 4:00 p.m. ET.
Supplemental Financial Information
Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in
The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the "Reconciliation of GAAP to Non-GAAP Financial Measures" table included herein. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the Company’s expectations, anticipations or beliefs about the Company's ability to realize growth opportunities and manage expenses, financial position, marketing strategies, inventory, full year 2024 net sales, gross margin, SG&A expenses, operating income, net interest income, effective income tax rate, net income, diluted earnings per share, weighted average diluted shares outstanding, foreign currency translation, operating cash flow, and capital expenditures, and fourth quarter 2024 net sales, operating income, and diluted earnings per share, as well as first half 2025 commentary. Forward-looking statements often use words such as "will," "anticipate," "estimate," "expect," "should," "may," "plan" 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. Potential risks and uncertainties that may affect our future revenues, earnings and performance and could cause the actual results of operations or financial condition of the Company to differ materially from the anticipated results expressed or implied by forward-looking statements in this document include: loss of key customer accounts; our ability to execute our ACCELERATE Growth Strategy; our ability to execute and realize cost savings related to our Profit Improvement Plan; our ability to effectively execute our business strategies, including initiatives to upgrade our business processes and information technology (“IT”) systems and investments in our DTC businesses; our ability to maintain the strength and security of our IT systems; the effects of unseasonable weather, including global climate change; the seasonality of our business and timing of orders; trends affecting consumer spending, including changes in the level of consumer spending, and retail traffic patterns; unfavorable economic conditions generally, the financial health of our customers and retailer consolidation; higher than expected rates of order cancellations; changes affecting consumer demand and preferences and fashion trends; changes in international, federal or state tax, labor and other laws and regulations that affect our business, including changes in corporate tax rates, tariffs, international trade policy and geopolitical tensions, or increasing wage rates; our ability to attract and retain key personnel; risks inherent in doing business in foreign markets, including fluctuations in currency exchange rates, global credit market conditions, changes in global regulation and economic and political conditions and disease outbreaks; volatility in global production and transportation costs and capacity and timing; our ability to effectively manage our inventory and our wholesale customer’s to manage their inventories; our dependence on third-party manufacturers and suppliers and our ability to source at competitive prices from them or at all; the effectiveness of our sales and marketing efforts; business disruptions and acts of terrorism, cyber-attacks or military activities around the globe; intense competition in the industry; our ability to establish and protect our intellectual property; and our ability to develop innovative products. 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.
About Columbia Sportswear Company
Columbia Sportswear Company connects active people with their passions and is a global multi-brand leading innovator in outdoor, active and lifestyle products including apparel, footwear, accessories, and equipment. Founded in 1938 in
COLUMBIA SPORTSWEAR COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
||||||
(in thousands) |
|
September 30,
|
|
September 30,
|
||
ASSETS |
|
|
|
|
||
Current Assets: |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
306,680 |
|
$ |
213,282 |
Short-term investments |
|
|
67,244 |
|
|
1,474 |
Accounts receivable, net |
|
|
581,738 |
|
|
686,821 |
Inventories |
|
|
798,153 |
|
|
885,163 |
Prepaid expenses and other current assets |
|
|
72,443 |
|
|
96,016 |
Total current assets |
|
|
1,826,258 |
|
|
1,882,756 |
Property, plant and equipment, net |
|
|
284,963 |
|
|
283,095 |
Operating lease right-of-use assets |
|
|
370,844 |
|
|
339,538 |
Intangible assets, net |
|
|
79,221 |
|
|
80,321 |
Goodwill |
|
|
26,694 |
|
|
51,694 |
Deferred income taxes |
|
|
103,757 |
|
|
89,801 |
Other non-current assets |
|
|
69,003 |
|
|
71,738 |
Total assets |
|
$ |
2,760,740 |
|
$ |
2,798,943 |
LIABILITIES AND EQUITY |
|
|
|
|
||
Current Liabilities: |
|
|
|
|
||
Accounts payable |
|
$ |
221,714 |
|
|
162,222 |
Accrued liabilities |
|
|
266,161 |
|
|
283,799 |
Operating lease liabilities |
|
|
72,968 |
|
|
72,685 |
Income taxes payable |
|
|
6,097 |
|
|
7,254 |
Total current liabilities |
|
|
566,940 |
|
|
525,960 |
Non-current operating lease liabilities |
|
|
348,786 |
|
|
323,508 |
Income taxes payable |
|
|
14,607 |
|
|
24,218 |
Deferred income taxes |
|
|
67 |
|
|
— |
Other long-term liabilities |
|
|
42,868 |
|
|
29,946 |
Total liabilities |
|
|
973,268 |
|
|
903,632 |
Total shareholders' equity |
|
|
1,787,472 |
|
|
1,895,311 |
Total liabilities and shareholders' equity |
|
$ |
2,760,740 |
|
$ |
2,798,943 |
COLUMBIA SPORTSWEAR COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
||||||||||||||||
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
(In thousands, except per share amounts) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net sales |
|
$ |
931,768 |
|
|
$ |
985,683 |
|
|
$ |
2,271,994 |
|
|
$ |
2,427,209 |
|
Cost of sales |
|
|
464,209 |
|
|
|
505,486 |
|
|
|
1,141,457 |
|
|
|
1,233,467 |
|
Gross profit |
|
|
467,559 |
|
|
|
480,197 |
|
|
|
1,130,537 |
|
|
|
1,193,742 |
|
Gross margin |
|
|
50.2 |
% |
|
|
48.7 |
% |
|
|
49.8 |
% |
|
|
49.2 |
% |
|
|
|
|
|
|
|
|
|
||||||||
Selling, general and administrative expenses |
|
|
361,243 |
|
|
|
351,563 |
|
|
|
1,013,262 |
|
|
|
1,011,490 |
|
Net licensing income |
|
|
6,225 |
|
|
|
5,920 |
|
|
|
16,145 |
|
|
|
14,958 |
|
Operating income |
|
|
112,541 |
|
|
|
134,554 |
|
|
|
133,420 |
|
|
|
197,210 |
|
Interest income, net |
|
|
5,364 |
|
|
|
1,870 |
|
|
|
22,905 |
|
|
|
8,659 |
|
Other non-operating income, net |
|
|
1,283 |
|
|
|
(311 |
) |
|
|
2,030 |
|
|
|
354 |
|
Income before income tax |
|
|
119,188 |
|
|
|
136,113 |
|
|
|
158,355 |
|
|
|
206,223 |
|
Income tax expense |
|
|
29,031 |
|
|
|
32,605 |
|
|
|
37,639 |
|
|
|
48,163 |
|
Net income |
|
$ |
90,157 |
|
|
$ |
103,508 |
|
|
$ |
120,716 |
|
|
$ |
158,060 |
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
1.56 |
|
|
$ |
1.70 |
|
|
$ |
2.05 |
|
|
$ |
2.57 |
|
Diluted |
|
$ |
1.56 |
|
|
$ |
1.70 |
|
|
$ |
2.04 |
|
|
$ |
2.56 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
57,785 |
|
|
|
60,844 |
|
|
|
58,896 |
|
|
|
61,575 |
|
Diluted |
|
|
57,936 |
|
|
|
60,932 |
|
|
|
59,043 |
|
|
|
61,775 |
|
COLUMBIA SPORTSWEAR COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
||||||||
|
|
Nine Months Ended September 30, |
||||||
(in thousands) |
|
2024 |
|
2023 |
||||
Cash flows from operating activities: |
|
|
|
|
||||
Net income |
|
$ |
120,716 |
|
|
$ |
158,060 |
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
42,187 |
|
|
|
42,290 |
|
Non-cash lease expense |
|
|
56,903 |
|
|
|
51,075 |
|
Provision for uncollectible accounts receivable |
|
|
3,183 |
|
|
|
2,010 |
|
Deferred income taxes |
|
|
2,180 |
|
|
|
4,236 |
|
Stock-based compensation |
|
|
18,478 |
|
|
|
17,026 |
|
Other, net |
|
|
(11,278 |
) |
|
|
568 |
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
Accounts receivable |
|
|
(162,252 |
) |
|
|
(146,139 |
) |
Inventories |
|
|
(50,336 |
) |
|
|
135,417 |
|
Prepaid expenses and other current assets |
|
|
5,008 |
|
|
|
26,809 |
|
Other assets |
|
|
(195 |
) |
|
|
(3,106 |
) |
Accounts payable |
|
|
(17,044 |
) |
|
|
(152,168 |
) |
Accrued liabilities |
|
|
(7,823 |
) |
|
|
(42,251 |
) |
Income taxes payable |
|
|
(22,439 |
) |
|
|
(20,434 |
) |
Operating lease assets and liabilities |
|
|
(56,557 |
) |
|
|
(49,322 |
) |
Other liabilities |
|
|
2,661 |
|
|
|
(1,897 |
) |
Net cash provided by (used in) operating activities |
|
|
(76,608 |
) |
|
|
22,174 |
|
Cash flows from investing activities: |
|
|
|
|
||||
Purchases of short-term investments |
|
|
(388,348 |
) |
|
|
(117,877 |
) |
Sales and maturities of short-term investments |
|
|
751,232 |
|
|
|
120,747 |
|
Capital expenditures |
|
|
(41,736 |
) |
|
|
(41,355 |
) |
Net cash provided by (used in) investing activities |
|
|
321,148 |
|
|
|
(38,485 |
) |
Cash flows from financing activities: |
|
|
|
|
||||
Proceeds from credit facilities |
|
|
— |
|
|
|
837 |
|
Repayments on credit facilities |
|
|
— |
|
|
|
(837 |
) |
Proceeds from issuance of common stock related to stock-based compensation |
|
|
3,955 |
|
|
|
7,081 |
|
Tax payments related to stock-based compensation |
|
|
(4,806 |
) |
|
|
(4,620 |
) |
Repurchase of common stock |
|
|
(230,864 |
) |
|
|
(144,633 |
) |
Cash dividends paid |
|
|
(52,860 |
) |
|
|
(55,379 |
) |
Net cash used in financing activities |
|
|
(284,575 |
) |
|
|
(197,551 |
) |
Net effect of exchange rate changes on cash |
|
|
(3,604 |
) |
|
|
(3,097 |
) |
Net decrease in cash and cash equivalents |
|
|
(43,639 |
) |
|
|
(216,959 |
) |
Cash and cash equivalents, beginning of period |
|
|
350,319 |
|
|
|
430,241 |
|
Cash and cash equivalents, end of period |
|
$ |
306,680 |
|
|
$ |
213,282 |
|
Supplemental disclosures of cash flow information: |
|
|
|
|
||||
Cash paid during the year for income taxes |
|
$ |
63,650 |
|
|
$ |
66,580 |
|
Supplemental disclosures of non-cash investing and financing activities: |
|
|
|
|
||||
Property, plant and equipment acquired through increase in liabilities |
|
$ |
12,224 |
|
|
$ |
5,389 |
|
COLUMBIA SPORTSWEAR COMPANY Reconciliation of GAAP to Non-GAAP Financial Measures Net Sales Growth - Constant-currency Basis (Unaudited) |
|||||||||||||||||||
|
|
Three Months Ended September 30, |
|||||||||||||||||
|
|
Reported
|
|
Adjust for
|
|
Constant-
|
|
Reported
|
|
Reported
|
|
Constant-
|
|||||||
(In millions, except percentage changes) |
|
2024 |
|
Translation |
|
2024(1) |
|
2023 |
|
% Change |
|
% Change(1) |
|||||||
Geographical Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
$ |
571.3 |
|
$ |
— |
|
$ |
571.3 |
|
|
$ |
635.4 |
|
(10 |
)% |
|
(10 |
)% |
|
|
|
135.0 |
|
|
1.7 |
|
|
136.7 |
|
|
|
115.4 |
|
17 |
% |
|
18 |
% |
|
|
|
141.8 |
|
|
0.5 |
|
|
142.3 |
|
|
|
129.4 |
|
10 |
% |
|
10 |
% |
|
|
|
83.7 |
|
|
1.9 |
|
|
85.6 |
|
|
|
105.5 |
|
(21 |
)% |
|
(19 |
)% |
Total |
|
$ |
931.8 |
|
$ |
4.1 |
|
$ |
935.9 |
|
|
$ |
985.7 |
|
(5 |
)% |
|
(5 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Brand Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
$ |
799.7 |
|
$ |
3.7 |
|
$ |
803.4 |
|
|
$ |
804.0 |
|
(1 |
)% |
|
— |
% |
SOREL |
|
|
73.9 |
|
|
0.2 |
|
|
74.1 |
|
|
|
122.1 |
|
(39 |
)% |
|
(39 |
)% |
prAna |
|
|
28.6 |
|
|
— |
|
|
28.6 |
|
|
|
30.7 |
|
(7 |
)% |
|
(7 |
)% |
Mountain Hardwear |
|
|
29.6 |
|
|
0.2 |
|
|
29.8 |
|
|
|
28.9 |
|
2 |
% |
|
3 |
% |
Total |
|
$ |
931.8 |
|
$ |
4.1 |
|
$ |
935.9 |
|
|
$ |
985.7 |
|
(5 |
)% |
|
(5 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Product Category Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Apparel, Accessories and Equipment |
|
$ |
735.4 |
|
$ |
2.9 |
|
$ |
738.3 |
|
|
$ |
731.7 |
|
1 |
% |
|
1 |
% |
Footwear |
|
|
196.4 |
|
|
1.2 |
|
|
197.6 |
|
|
|
254.0 |
|
(23 |
)% |
|
(22 |
)% |
Total |
|
$ |
931.8 |
|
$ |
4.1 |
|
$ |
935.9 |
|
|
$ |
985.7 |
|
(5 |
)% |
|
(5 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Channel Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Wholesale |
|
$ |
605.2 |
|
$ |
2.3 |
|
$ |
607.5 |
|
|
$ |
664.3 |
|
(9 |
)% |
|
(9 |
)% |
DTC |
|
|
326.6 |
|
|
1.8 |
|
|
328.4 |
|
|
|
321.4 |
|
2 |
% |
|
2 |
% |
Total |
|
$ |
931.8 |
|
$ |
4.1 |
|
$ |
935.9 |
|
|
$ |
985.7 |
|
(5 |
)% |
|
(5 |
)% |
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information. |
|||||||||||||||||||
COLUMBIA SPORTSWEAR COMPANY Reconciliation of GAAP to Non-GAAP Financial Measures Net Sales Growth - Constant-currency Basis (Unaudited) |
||||||||||||||||||||
|
|
Nine Months Ended September 30, |
||||||||||||||||||
|
|
Reported
|
|
Adjust for
|
|
Constant-
|
|
Reported
|
|
Reported
|
|
Constant-
|
||||||||
(In millions, except percentage changes) |
|
2024 |
|
Translation |
|
2024(1) |
|
2023 |
|
% Change |
|
% Change(1) |
||||||||
Geographical Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
$ |
1,385.9 |
|
$ |
— |
|
|
$ |
1,385.9 |
|
|
$ |
1,552.0 |
|
(11 |
)% |
|
(11 |
)% |
|
|
|
373.2 |
|
|
14.0 |
|
|
|
387.2 |
|
|
|
345.1 |
|
8 |
% |
|
12 |
% |
|
|
|
350.2 |
|
|
(1.3 |
) |
|
|
348.9 |
|
|
|
338.5 |
|
3 |
% |
|
3 |
% |
|
|
|
162.7 |
|
|
1.6 |
|
|
|
164.3 |
|
|
|
191.6 |
|
(15 |
)% |
|
(14 |
)% |
Total |
|
$ |
2,272.0 |
|
$ |
14.3 |
|
|
$ |
2,286.3 |
|
|
$ |
2,427.2 |
|
(6 |
)% |
|
(6 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Brand Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
$ |
1,972.2 |
|
$ |
13.6 |
|
|
$ |
1,985.8 |
|
|
$ |
2,043.8 |
|
(4 |
)% |
|
(3 |
)% |
SOREL |
|
|
140.6 |
|
|
0.2 |
|
|
|
140.8 |
|
|
|
220.4 |
|
(36 |
)% |
|
(36 |
)% |
prAna |
|
|
81.7 |
|
|
— |
|
|
|
81.7 |
|
|
|
90.8 |
|
(10 |
)% |
|
(10 |
)% |
Mountain Hardwear |
|
|
77.5 |
|
|
0.5 |
|
|
|
78.0 |
|
|
|
72.2 |
|
7 |
% |
|
8 |
% |
Total |
|
$ |
2,272.0 |
|
$ |
14.3 |
|
|
$ |
2,286.3 |
|
|
$ |
2,427.2 |
|
(6 |
)% |
|
(6 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Product Category Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Apparel, Accessories and Equipment |
|
$ |
1,818.4 |
|
$ |
10.5 |
|
|
$ |
1,828.9 |
|
|
$ |
1,853.2 |
|
(2 |
)% |
|
(1 |
)% |
Footwear |
|
|
453.6 |
|
|
3.8 |
|
|
|
457.4 |
|
|
|
574.0 |
|
(21 |
)% |
|
(20 |
)% |
Total |
|
$ |
2,272.0 |
|
$ |
14.3 |
|
|
$ |
2,286.3 |
|
|
$ |
2,427.2 |
|
(6 |
)% |
|
(6 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Channel Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Wholesale |
|
$ |
1,274.5 |
|
$ |
5.6 |
|
|
$ |
1,280.1 |
|
|
$ |
1,445.1 |
|
(12 |
)% |
|
(11 |
)% |
DTC |
|
|
997.5 |
|
|
8.7 |
|
|
|
1,006.2 |
|
|
|
982.1 |
|
2 |
% |
|
2 |
% |
Total |
|
$ |
2,272.0 |
|
$ |
14.3 |
|
|
$ |
2,286.3 |
|
|
$ |
2,427.2 |
|
(6 |
)% |
|
(6 |
)% |
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information. |
||||||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030226588/en/
Andrew Burns, CFA
Vice President of Investor Relations and Strategic Planning
Columbia Sportswear Company
(503) 985-4112
aburns@columbia.com
Source: Columbia Sportswear Company
