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    Columbia Sportswear Company Reports Fourth Quarter and Full Year 2024 Financial Results; Provides Full Year 2025 Financial Outlook

    2/4/25 4:05:00 PM ET
    $COLM
    Apparel
    Consumer Discretionary
    Get the next $COLM alert in real time by email

    Fourth Quarter 2024 Highlights

    • Net sales increased 3 percent (3 percent constant-currency) to $1,096.6 million, compared to fourth quarter 2023.
    • Operating income increased 21 percent to $137.3 million, or 12.5 percent of net sales, compared to fourth quarter 2023 operating income of $113.1 million, or 10.7 percent of net sales. The prior year operating income included a $25.0 million impairment charge related to prAna.
    • Diluted earnings per share increased 16 percent to $1.80, compared to fourth quarter 2023 diluted earnings per share of $1.55. Fourth quarter 2024 income tax expense includes a $6.4 million discrete tax valuation allowance expense, which negatively impacted diluted earnings per share by $0.11.
    • Exited the quarter with $815.5 million of cash, cash equivalents and short-term investments and no borrowings.
    • Exited the quarter with $690.5 million of inventories, a decrease of 7 percent compared to December 31, 2023. 

    Full Year 2024 Highlights

    • Net sales decreased 3 percent to $3,368.6 million, compared to 2023.
    • Operating income decreased 13 percent to $270.7 million, or 8.0 percent of net sales, compared to 2023 operating income of $310.3 million, or 8.9 percent of net sales.
    • Diluted earnings per share decreased 7 percent to $3.82, compared to 2023 diluted earnings per share of $4.09.
    • Repurchased $317.8 million of common stock during the twelve months ended December 31, 2024. 

    Full Year 2025 Financial Outlook

    The following forward-looking statements reflect our expectations as of February 4, 2025 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 2025 Financial Outlook section below and the CFO Commentary and Financial Review presentation.

    • Net sales of $3.40 to $3.47 billion, representing net sales growth of 1.0 to 3.0 percent compared to 2024.
    • Operating margin of 7.7 to 8.3 percent.
    • Diluted earnings per share of $3.80 to $4.15.

     

    Columbia Sportswear Company (NASDAQ:COLM, the ", Company", )), a multi-brand global leading innovator in outdoor, active and lifestyle products including apparel, footwear, accessories, and equipment, today announced fourth quarter 2024 financial results for the period ended December 31, 2024.

    Chairman, President and Chief Executive Officer Tim Boyle commented, "I'm encouraged that sales returned to growth in the fourth quarter, and we expect continued growth in 2025, across most brands and regions. During the year we made substantial progress on our inventory reduction efforts, achieved cost savings through our Profit Improvement Program, and returned meaningful cash to shareholders through share buybacks and dividends. We also laid the foundation for Columbia's ACCELERATE Growth Strategy, which will come to life in the seasons ahead.

    "While we have made substantial progress slowing our rate of SG&A expense growth, we are continuing to pursue cost savings and enhanced profitability.

    "Our balance sheet remains strong, with cash and short-term investments of approximately $815 million and no bank borrowings exiting the quarter. I am confident we have the right strategies in place to drive sustainable, profitable long-term growth and we are committed to investing in our strategic priorities to:

    • 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 fourth quarter and full year 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.

    Fourth Quarter 2024 Financial Results

    (All comparisons are between fourth quarter 2024 and fourth quarter 2023, unless otherwise noted.)

    Net sales increased 3 percent (3 percent constant-currency) to $1,096.6 million from $1,060.0 million for the comparable period in 2023. The increase was led by the Europe, Middle East and Africa ("EMEA") and Latin America, Asia Pacific ("LAAP") regions, partially offset by the United States ("U.S."). Canada was flat year-over-year.

    Gross margin expanded 50 basis points to 51.1 percent of net sales from 50.6 percent of net sales for the comparable period in 2023. Gross margin expansion primarily reflects lower inventory clearance activity, partially offset by unfavorable FX hedging rates.

    SG&A expenses were $430.6 million, or 39.3 percent of net sales, compared to $404.8 million, or 38.2 percent of net sales, for the comparable period in 2023. The largest changes in SG&A expenses were higher incentive compensation and direct-to-consumer ("DTC") expenses, partially offset by lower supply chain expenses.

    There was no impairment of goodwill in fourth quarter 2024, compared to a $25.0 million charge related to prAna for the comparable period in 2023, which negatively impacted diluted earnings per share by $0.31.

    Operating income increased 21 percent to $137.3 million, or 12.5 percent of net sales, compared to operating income of $113.1 million, or 10.7 percent of net sales, for the comparable period in 2023.

    Interest income, net of $4.8 million, compared to $5.0 million for the comparable period in 2023.

    Income tax expense of $37.3 million resulted in an effective income tax rate of 26.7 percent, compared to income tax expense of $26.6 million, or an effective income tax rate of 22.2 percent, for the comparable period in 2023. Fourth quarter 2024 income tax expense includes a $6.4 million discrete tax valuation allowance expense, which negatively impacted diluted earnings per share by $0.11.

    Net income increased 10 percent to $102.6 million, or $1.80 per diluted share, compared to net income of $93.3 million, or $1.55 per diluted share, for the comparable period in 2023.

    Full Year 2024 Financial Results

    (All comparisons are between the full year 2024 and the full year 2023, unless otherwise noted.)

    Net sales decreased 3 percent (3 percent constant-currency) to $3,368.6 million from $3,487.2 million for the comparable period in 2023.

    Gross margin expanded 60 basis points to 50.2 percent of net sales from 49.6 percent of net sales for the comparable period in 2023.

    SG&A expenses were $1,443.9 million, or 42.9 percent of net sales, compared to $1,416.3 million, or 40.6 percent of net sales, for the comparable period in 2023.

    There was no impairment of goodwill in 2024, compared to a $25.0 million charge related to prAna for the comparable period in 2023.

    Operating income decreased 13 percent to $270.7 million, or 8.0 percent of net sales, compared to operating income of $310.3 million, or 8.9 percent of net sales, for the comparable period in 2023.

    Interest income, net was $27.7 million, compared to $13.7 million for the comparable period in 2023.

    Income tax expense of $74.9 million resulted in an effective income tax rate of 25.1 percent, compared to income tax expense of $74.8 million, or an effective income tax rate of 22.9 percent, for the comparable period in 2023.

    Net income decreased 11 percent to $223.3 million, or $3.82 per diluted share, compared to net income of $251.4 million, or $4.09 per diluted share, for the comparable period in 2023.

    Balance Sheet as of December 31, 2024

    Cash, cash equivalents, and short-term investments totaled $815.5 million, compared to $764.5 million as of December 31, 2023.

    The Company had no borrowings as of either December 31, 2024 or December 31, 2023.

    Inventories decreased 7 percent to $690.5 million, compared to $746.3 million as of December 31, 2023.

    Cash Flow for the Twelve Months Ended December 31, 2024

    Net cash provided by operating activities was $491.0 million, compared to net cash provided by operating activities of $636.3 million for the same period in 2023.

    Capital expenditures totaled $59.8 million, compared to $54.6 million for the same period in 2023.

    Share Repurchases for the Twelve Months Ended December 31, 2024

    The Company repurchased 3,962,540 shares of common stock for an aggregate of $317.8 million, or an average price per share of $80.19.

    At December 31, 2024, $627.6 million remained available under our stock repurchase authorization, which does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time.

    Quarterly Cash Dividend

    The Board of Directors approved a regular quarterly cash dividend of $0.30 per share, payable on March 21, 2025 to shareholders of record on March 10, 2025.

    Full Year 2025 Financial Outlook

    (Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)

    The Company's 2025 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of February 4, 2025 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. This outlook and commentary does not include any potential impacts on the Company as a result of the recent U.S. administration change, other than the direct costs of tariff actions announced on February 1, 2025, or actions we may undertake as we review our cost structure and look to expand the Profit Improvement Plan.

    Net sales are expected to increase 1.0 to 3.0 percent, resulting in net sales of $3.40 to $3.47 billion, compared to $3.37 billion in 2024.

    Gross margin is expected to expand 80 basis points to approximately 51 percent of net sales from 50.2 percent of net sales in 2024.

    SG&A expenses, as a percent of net sales, are expected to be 43.4 to 44.1 percent, compared to SG&A expense as a percent of net sales of 42.9 percent in 2024.

    Operating margin is expected to be 7.7 to 8.3 percent, compared to operating margin of 8.0 percent in 2024.

    Effective income tax rate is expected to be 24.0 to 25.0 percent.

    Diluted earnings per share is expected to be $3.80 to $4.15, compared to $3.82 in 2024.

    Operating cash flow is expected to be at least $250 million.

    Capital expenditures are planned to be in the range of $60 to $80 million.

    First Half 2025 Financial Outlook

    • Net sales are expected to be $1,352 to $1,378 million, representing an increase of 1 percent to 3 percent from $1,340 million for the comparable period in 2024.
    • Operating margin is expected to be 1.5 to 2.2 percent, compared to operating margin of 1.6 percent in the comparable period in 2024.
    • Diluted earnings per share is expected to be $0.43 to $0.56, compared to $0.51 for the comparable period in 2024.

    First Quarter 2025 Financial Outlook

    • Net sales are expected to be $749 to $764 million, representing a decline of 3 to 1 percent from $770 million for the comparable period in 2024.
    • Operating margin is expected to be 5.4 to 6.0 percent, compared to operating margin of 5.8 percent in the comparable period in 2024.
    • Diluted earnings per share is expected to be $0.62 to $0.70, compared to $0.71 for the comparable period in 2024.

    Conference Call

    The Company will hold its fourth 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.

    First Quarter 2025 Reporting Date

    The Company plans to report first quarter 2025 financial results on Thursday, May 1, 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 United States dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value over time compared to the United States dollar. To supplement financial information reported in accordance with GAAP, the Company discloses constant-currency net sales information, which is a non-GAAP financial measure, to provide a framework to assess how the business performed excluding the effects of changes in the exchange rates used to translate net sales generated in foreign currencies into United States dollars. The Company calculates constant-currency net sales by translating net sales in foreign currencies for the current period into United States dollars at the average exchange rates that were in effect during the comparable period of the prior year. Management believes that this non-GAAP financial measure reflects an additional and useful way of viewing an aspect of our operations that, when viewed in conjunction with our GAAP results, provides a more comprehensive understanding of our business and operations. In particular, investors may find the non-GAAP financial measure useful by reviewing our net sales results without the volatility in foreign currency exchange rates. This non-GAAP financial measure also facilitates management's internal comparisons to our historical net sales results and comparisons to competitors' net sales results.

    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 2025 net sales, gross margin, SG&A expenses, operating margin, effective income tax rate, diluted earnings per share, operating cash flow, and capital expenditures, as well as first half and first quarter 2025 net sales, operating margin, and diluted earnings per share. 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 Portland, Oregon, the Company's brands are sold in more than 100 countries. In addition to the Columbia® brand, Columbia Sportswear Company also owns the Mountain Hard Wear®, SOREL® and prAna® brands. To learn more, please visit the Company's websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, and www.prana.com.

    COLUMBIA SPORTSWEAR COMPANY

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)

     

     

    As of December 31,

     

    (in thousands)

     

     

    2024

     

     

    2023

     

    ASSETS

     

     

     

     

     

    Current Assets:

     

     

     

     

     

    Cash and cash equivalents

     

    $

    531,869

     

    $

    350,319

     

    Short-term investments

     

     

    283,608

     

     

    414,185

     

    Accounts receivable, net

     

     

    417,539

     

     

    423,079

     

    Inventories

     

     

    690,515

     

     

    746,288

     

    Prepaid expenses and other current assets

     

     

    85,051

     

     

    80,814

     

    Total current assets

     

     

    2,008,582

     

     

    2,014,685

     

    Property, plant and equipment, net

     

     

    282,908

     

     

    287,281

     

    Operating lease right-of-use assets

     

     

    399,669

     

     

    357,295

     

    Intangible assets, net

     

     

    79,221

     

     

    79,908

     

    Goodwill

     

     

    26,694

     

     

    26,694

     

    Deferred income taxes

     

     

    104,203

     

     

    105,574

     

    Other non-current assets

     

     

    73,988

     

     

    67,576

     

    Total assets

     

    $

    2,975,265

     

    $

    2,939,013

     

    LIABILITIES AND EQUITY

     

     

     

     

     

    Current Liabilities:

     

     

     

     

     

    Accounts payable

     

    $

    385,695

     

    $

    235,927

     

    Accrued liabilities

     

     

    273,330

     

     

    272,058

     

    Operating lease liabilities

     

     

    75,857

     

     

    71,086

     

    Income taxes payable

     

     

    31,663

     

     

    17,556

     

    Total current liabilities

     

     

    766,545

     

     

    596,627

     

    Non-current operating lease liabilities

     

     

    373,328

     

     

    336,772

     

    Income taxes payable

     

     

    13,176

     

     

    25,688

     

    Deferred income taxes

     

     

    310

     

     

    66

     

    Other long-term liabilities

     

     

    41,867

     

     

    41,250

     

    Total liabilities

     

     

    1,195,226

     

     

    1,000,403

     

    Total shareholders' equity

     

     

    1,780,039

     

     

    1,938,610

     

    Total liabilities and shareholders' equity

     

    $

    2,975,265

     

    $

    2,939,013

     

    COLUMBIA SPORTSWEAR COMPANY

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited)

     

     

    Three Months Ended December 31,

     

    Twelve Months Ended December 31,

    (In thousands, except per share amounts)

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    Net sales

     

    $

    1,096,587

     

     

    $

    1,059,994

     

     

    $

    3,368,582

     

     

    $

    3,487,203

     

    Cost of sales

     

     

    536,039

     

     

     

    523,804

     

     

     

    1,677,497

     

     

     

    1,757,271

     

    Gross profit

     

     

    560,548

     

     

     

    536,190

     

     

     

    1,691,085

     

     

     

    1,729,932

     

    Gross margin

     

     

    51.1

    %

     

     

    50.6

    %

     

     

    50.2

    %

     

     

    49.6

    %

     

     

     

     

     

     

     

     

     

    Selling, general and administrative expenses

     

     

    430,645

     

     

     

    404,823

     

     

     

    1,443,906

     

     

     

    1,416,313

     

    Impairment of goodwill

     

     

    —

     

     

     

    25,000

     

     

     

    —

     

     

     

    25,000

     

    Net licensing income

     

     

    7,418

     

     

     

    6,707

     

     

     

    23,562

     

     

     

    21,665

     

    Operating income

     

     

    137,321

     

     

     

    113,074

     

     

     

    270,741

     

     

     

    310,284

     

    Interest income, net

     

     

    4,797

     

     

     

    5,028

     

     

     

    27,703

     

     

     

    13,687

     

    Other non-operating income (expense), net

     

     

    (2,287

    )

     

     

    1,867

     

     

     

    (257

    )

     

     

    2,221

     

    Income before income tax

     

     

    139,831

     

     

     

    119,969

     

     

     

    298,187

     

     

     

    326,192

     

    Income tax expense

     

     

    37,274

     

     

     

    26,629

     

     

     

    74,914

     

     

     

    74,792

     

    Net income

     

    $

    102,557

     

     

    $

    93,340

     

     

    $

    223,273

     

     

    $

    251,400

     

     

     

     

     

     

     

     

     

     

    Earnings per share:

     

     

     

     

     

     

     

     

    Basic

     

    $

    1.81

     

     

    $

    1.55

     

     

    $

    3.83

     

     

    $

    4.11

     

    Diluted

     

    $

    1.80

     

     

    $

    1.55

     

     

    $

    3.82

     

     

    $

    4.09

     

    Weighted average shares outstanding:

     

     

     

     

     

     

     

     

    Basic

     

     

    56,656

     

     

     

    60,214

     

     

     

    58,333

     

     

     

    61,232

     

    Diluted

     

     

    56,890

     

     

     

    60,345

     

     

     

    58,502

     

     

     

    61,424

     

    COLUMBIA SPORTSWEAR COMPANY

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)

     

     

    Year Ended December 31,

    (in thousands)

     

     

    2024

     

     

     

    2023

     

     

    Cash flows from operating activities:

     

     

     

     

     

    Net income

     

    $

    223,273

     

     

    $

    251,400

     

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

     

    Depreciation and amortization

     

     

    55,944

     

     

     

    58,063

     

     

    Non-cash lease expense

     

     

    77,378

     

     

     

    68,989

     

     

    Provision for uncollectible accounts receivable

     

     

    2,555

     

     

     

    3,142

     

     

    Deferred income taxes

     

     

    (6,204

    )

     

     

    (5,135

    )

     

    Stock-based compensation

     

     

    24,777

     

     

     

    23,051

     

     

    Loss on impairment of goodwill

     

     

    —

     

     

     

    25,000

     

     

    Other, net

     

     

    (11,002

    )

     

     

    1,374

     

     

    Changes in operating assets and liabilities:

     

     

     

     

     

    Accounts receivable

     

     

    (11,803

    )

     

     

    123,830

     

     

    Inventories

     

     

    39,131

     

     

     

    283,826

     

     

    Prepaid expenses and other current assets

     

     

    6,792

     

     

     

    29,840

     

     

    Other assets

     

     

    (710

    )

     

     

    (3,148

    )

     

    Accounts payable

     

     

    155,176

     

     

     

    (85,862

    )

     

    Accrued liabilities

     

     

    8,815

     

     

     

    (62,239

    )

     

    Income taxes payable

     

     

    1,991

     

     

     

    (8,800

    )

     

    Operating lease assets and liabilities

     

     

    (78,627

    )

     

     

    (73,718

    )

     

    Other liabilities

     

     

    3,556

     

     

     

    6,684

     

     

    Net cash provided by operating activities

     

     

    491,042

     

     

     

    636,297

     

     

    Cash flows from investing activities:

     

     

     

     

     

    Purchases of short-term investments

     

     

    (669,093

    )

     

     

    (528,491

    )

     

    Sales and maturities of short-term investments

     

     

    816,232

     

     

     

    121,279

     

     

    Capital expenditures

     

     

    (59,805

    )

     

     

    (54,607

    )

     

    Net cash provided by (used in) investing activities

     

     

    87,334

     

     

     

    (461,819

    )

     

    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

     

     

    6,120

     

     

     

    7,354

     

     

    Tax payments related to stock-based compensation

     

     

    (4,871

    )

     

     

    (4,681

    )

     

    Repurchase of common stock

     

     

    (317,756

    )

     

     

    (184,022

    )

     

    Cash dividends paid

     

     

    (69,732

    )

     

     

    (73,440

    )

     

    Net cash used in financing activities

     

     

    (386,239

    )

     

     

    (254,789

    )

     

    Net effect of exchange rate changes on cash

     

     

    (10,587

    )

     

     

    389

     

     

    Net increase (decrease) in cash and cash equivalents

     

     

    181,550

     

     

     

    (79,922

    )

     

    Cash and cash equivalents, beginning of period

     

     

    350,319

     

     

     

    430,241

     

     

    Cash and cash equivalents, end of period

     

    $

    531,869

     

     

    $

    350,319

     

     

    Supplemental disclosures of cash flow information:

     

     

     

     

     

    Cash paid during the year for income taxes

     

    $

    76,104

     

     

    $

    90,507

     

     

    Supplemental disclosures of non-cash investing and financing activities:

     

     

     

     

     

    Property, plant and equipment acquired through increase in liabilities

     

    $

    10,735

     

     

    $

    10,125

     

     

    COLUMBIA SPORTSWEAR COMPANY

    Reconciliation of GAAP to Non-GAAP Financial Measures

    Net Sales Growth - Constant-currency Basis

    (Unaudited)

     

     

    Three Months Ended December 31,

     

     

    Reported

    Net Sales

     

    Adjust for Foreign Currency

     

    Constant-currency

    Net Sales

     

    Reported

    Net Sales

     

    Reported

    Net Sales

     

    Constant-currency

    Net Sales

    (In thousands, except percentage changes)

     

     

    2024

     

    Translation

     

     

    2024(1)

     

     

    2023

     

    % Change

     

    % Change(1)

    Geographical Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    United States

     

    $

    682,287

     

    $

    —

     

     

    $

    682,287

     

     

    $

    689,440

     

    (1

    )%

     

    (1

    )%

    Latin America and Asia Pacific

     

     

    187,591

     

     

    (323

    )

     

     

    187,268

     

     

     

    174,655

     

    7

    %

     

    7

    %

    Europe, Middle East and Africa

     

     

    161,551

     

     

    (3,919

    )

     

     

    157,632

     

     

     

    130,743

     

    24

    %

     

    21

    %

    Canada

     

     

    65,158

     

     

    716

     

     

     

    65,874

     

     

     

    65,156

     

    —

    %

     

    1

    %

    Total

     

    $

    1,096,587

     

    $

    (3,526

    )

     

    $

    1,093,061

     

     

    $

    1,059,994

     

    3

    %

     

    3

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

    Brand Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Columbia

     

    $

    945,446

     

    $

    (3,077

    )

     

    $

    942,369

     

     

    $

    891,357

     

    6

    %

     

    6

    %

    SOREL

     

     

    97,669

     

     

    (481

    )

     

     

    97,188

     

     

     

    116,294

     

    (16

    )%

     

    (16

    )%

    prAna

     

     

    22,427

     

     

    2

     

     

     

    22,429

     

     

     

    22,826

     

    (2

    )%

     

    (2

    )%

    Mountain Hardwear

     

     

    31,045

     

     

    30

     

     

     

    31,075

     

     

     

    29,517

     

    5

    %

     

    5

    %

    Total

     

    $

    1,096,587

     

    $

    (3,526

    )

     

    $

    1,093,061

     

     

    $

    1,059,994

     

    3

    %

     

    3

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

    Product Category Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Apparel, Accessories and Equipment

     

    $

    868,823

     

    $

    (2,431

    )

     

    $

    866,392

     

     

    $

    823,365

     

    6

    %

     

    5

    %

    Footwear

     

     

    227,764

     

     

    (1,095

    )

     

     

    226,669

     

     

     

    236,629

     

    (4

    )%

     

    (4

    )%

    Total

     

    $

    1,096,587

     

    $

    (3,526

    )

     

    $

    1,093,061

     

     

    $

    1,059,994

     

    3

    %

     

    3

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

    Channel Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Wholesale

     

    $

    459,859

     

    $

    (3,459

    )

     

    $

    456,400

     

     

    $

    428,873

     

    7

    %

     

    6

    %

    DTC

     

     

    636,728

     

     

    (67

    )

     

     

    636,661

     

     

     

    631,121

     

    1

    %

     

    1

    %

    Total

     

    $

    1,096,587

     

    $

    (3,526

    )

     

    $

    1,093,061

     

     

    $

    1,059,994

     

    3

    %

     

    3

    %

    (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)

     

     

    Twelve Months Ended December 31,

     

     

    Reported

    Net Sales

     

    Adjust for Foreign Currency

     

    Constant-currency

    Net Sales

     

    Reported

    Net Sales

     

    Reported

    Net Sales

     

    Constant-currency

    Net Sales

    (In thousands, except percentage changes)

     

     

    2024

     

    Translation

     

     

    2024(1)

     

     

    2023

     

    % Change

     

    % Change(1)

    Geographical Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    United States

     

    $

    2,068,228

     

    $

    —

     

     

    $

    2,068,228

     

     

    $

    2,241,437

     

    (8

    )%

     

    (8

    )%

    Latin America and Asia Pacific

     

     

    560,706

     

     

    13,715

     

     

     

    574,421

     

     

     

    519,754

     

    8

    %

     

    11

    %

    Europe, Middle East and Africa

     

     

    511,778

     

     

    (5,300

    )

     

     

    506,478

     

     

     

    469,237

     

    9

    %

     

    8

    %

    Canada

     

     

    227,870

     

     

    2,332

     

     

     

    230,202

     

     

     

    256,775

     

    (11

    )%

     

    (10

    )%

    Total

     

    $

    3,368,582

     

    $

    10,747

     

     

    $

    3,379,329

     

     

    $

    3,487,203

     

    (3

    )%

     

    (3

    )%

     

     

     

     

     

     

     

     

     

     

     

     

     

    Brand Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Columbia

     

    $

    2,917,678

     

    $

    10,521

     

     

    $

    2,928,199

     

     

    $

    2,935,145

     

    (1

    )%

     

    —

    %

    SOREL

     

     

    238,266

     

     

    (257

    )

     

     

    238,009

     

     

     

    336,688

     

    (29

    )%

     

    (29

    )%

    prAna

     

     

    104,087

     

     

    6

     

     

     

    104,093

     

     

     

    113,623

     

    (8

    )%

     

    (8

    )%

    Mountain Hardwear

     

     

    108,551

     

     

    477

     

     

     

    109,028

     

     

     

    101,747

     

    7

    %

     

    7

    %

    Total

     

    $

    3,368,582

     

    $

    10,747

     

     

    $

    3,379,329

     

     

    $

    3,487,203

     

    (3

    )%

     

    (3

    )%

     

     

     

     

     

     

     

     

     

     

     

     

     

    Product Category Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Apparel, Accessories and Equipment

     

    $

    2,687,174

     

    $

    8,048

     

     

    $

    2,695,222

     

     

    $

    2,676,597

     

    —

    %

     

    1

    %

    Footwear

     

     

    681,408

     

     

    2,699

     

     

     

    684,107

     

     

     

    810,606

     

    (16

    )%

     

    (16

    )%

    Total

     

    $

    3,368,582

     

    $

    10,747

     

     

    $

    3,379,329

     

     

    $

    3,487,203

     

    (3

    )%

     

    (3

    )%

     

     

     

     

     

     

     

     

     

     

     

     

     

    Channel Net Sales:

     

     

     

     

     

     

     

     

     

     

     

     

    Wholesale

     

    $

    1,734,358

     

    $

    2,062

     

     

    $

    1,736,420

     

     

    $

    1,874,003

     

    (7

    )%

     

    (7

    )%

    DTC

     

     

    1,634,224

     

     

    8,685

     

     

     

    1,642,909

     

     

     

    1,613,200

     

    1

    %

     

    2

    %

    Total

     

    $

    3,368,582

     

    $

    10,747

     

     

    $

    3,379,329

     

     

    $

    3,487,203

     

    (3

    )%

     

    (3

    )%

    (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/20250204871130/en/

    Andrew Burns, CFA

    Vice President of Investor Relations and Strategic Planning

    Columbia Sportswear Company

    (503) 985-4112

    [email protected]

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    • SEC Form SC 13G filed by Columbia Sportswear Company

      SC 13G - COLUMBIA SPORTSWEAR CO (0001050797) (Subject)

      11/13/24 6:02:07 AM ET
      $COLM
      Apparel
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Columbia Sportswear Company

      SC 13G/A - COLUMBIA SPORTSWEAR CO (0001050797) (Subject)

      11/6/24 1:22:34 PM ET
      $COLM
      Apparel
      Consumer Discretionary
    • SEC Form SC 13G filed by Columbia Sportswear Company

      SC 13G - COLUMBIA SPORTSWEAR CO (0001050797) (Subject)

      2/13/24 5:28:26 PM ET
      $COLM
      Apparel
      Consumer Discretionary