This audio is auto-generated. Please let us know if you have feedback Dive Brief:Columbia Sportswear Company named Peter Bragdon and Joe Boyle co-presidents effective Wednesday, the company announced. They will continue to report to chairman and CEO Tim Boyle, a member of the founding family of the brand.The leadership shakeup is part of the Portland, Oregon-based brand’s long-term succession plans. While Bragdon and Joe Boyle will now oversee commercial opportunities for the brand, Tim Boyle will maintain ...

Columbia Sportswear is getting closer to passing the baton to another Boyle. On Wednesday, the Portland, Ore.-based brand named Joseph P. Boyle and Peter J. Bragdon copresidents.  Boyle will oversee the flagship Columbia brand while Bragdon will be responsible for the other brands in the portfolio as well as the international business. More from WWD Joseph Boyle is the son of the 76-year-old chairman and chief executive officer Tim Boyle and the grandson of Gert Boyle who is considered the founder of the ...

Nov 12, 2025 8:45 AM Eastern Standard Time Columbia Sportswear Company Advances Its Succession Plans and Appoints Co-Presidents, Peter J. Bragdon and Joseph P. Boyle Share PORTLAND, Ore.--(BUSINESS WIRE)--Columbia Sportswear Company (Nasdaq: COLM, the "Company†), a global leader in designing, sourcing, marketing, and distributing outdoor, active and everyday lifestyle apparel, footwear, accessories, and equipment products, today announced that as part of its ongoing process to advance its succession plans ...

Financial Performance - Q3 2025 net sales reached $943.4 million, a slight increase from $931.8 million in Q3 2024, representing a 1.4% growth[121] - Gross profit margin for Q3 2025 was 50.0%, consistent with Q3 2024, while operating income decreased to $67.4 million from $112.5 million, reflecting a decline in operating margin[121] - Net sales for Q3 2025 were $943.4 million, a 1% increase from $931.8 million in Q3 2024, with constant currency net sales also reflecting a 1% increase[122] - The Columbia brand net sales reached $803.9 million, a slight increase of 1% compared to $799.7 million in the same period last year[122] - Gross profit for Q3 2025 was $471.8 million, representing a 1% increase from $467.6 million in Q3 2024, with a gross margin of 50.0%, down 20 basis points year-over-year[124] - For the nine months ended September 30, 2025, total net sales were $2.33 billion, a 2% increase from $2.27 billion in the same period of 2024[131] - U.S. net sales decreased by $24.6 million, or 4%, to $546.7 million for the three months ended September 30, 2025, compared to $571.3 million in 2024[141] - Total segment operating income decreased by $12.2 million to $179.2 million for the three months ended September 30, 2025, compared to $191.4 million in 2024[142] - U.S. segment operating income decreased by $31.5 million to $180.3 million, representing 13.3% of net sales for the nine months ended September 30, 2025, down from 15.3% in 2024[152] - U.S. net sales decreased by $33.0 million, or 2%, for the nine months ended September 30, 2025, primarily due to declines in DTC brick-and-mortar and e-commerce businesses[152] Cost Management - The Profit Improvement Program achieved approximately $90 million in annualized cost savings in 2024, with cumulative savings exceeding $150 million by Q3 2025[103] - Selling, general and administrative expenses increased to 40.4% of net sales in Q3 2025, up from 38.8% in Q3 2024[121] - SG&A expenses increased by 5% to $380.9 million in Q3 2025, up from $361.2 million in Q3 2024, with SG&A as a percentage of net sales rising to 40.4%[125] - Unallocated corporate expenses increased by $33.0 million to $111.8 million in the third quarter of 2025, primarily due to $29.0 million of impairment charges[149] - Unallocated corporate expenses increased by $26.1 million to $253.2 million for the nine months ended September 30, 2025, primarily due to impairment charges related to Mountain Hardwear and prAna[156] Strategic Initiatives - The ACCELERATE Growth Strategy aims to attract younger consumers and enhance brand perception, with new product launches like the Amaze Puff[99] - The company continues to focus on enhancing consumer experiences and marketplace excellence through digital and omni-channel strategies[101] - The Columbia brand's U.S. direct-to-consumer e-commerce channel experienced reduced sales year-over-year as part of a strategic repositioning[105] - The company plans to increase U.S. pricing by a high-single digit percentage for Spring 2026 to offset higher tariffs[113] - The Columbia brand's wholesale sales in the U.S. are expected to decline for the full year 2025 and into the first half of 2026[105] Impairment and Charges - The company recognized $29.0 million in impairment charges during Q3 2025, primarily related to the prAna and Mountain Hardwear brands[125] - The prAna trade name recorded an impairment charge of $8.0 million, with a fair value less than its carrying value of $51.8 million[178] - The prAna reporting unit had a fair value less than its carrying value of $12.2 million, leading to an impairment charge of $8.8 million[179] - The Mountain Hardwear reporting unit recorded a full impairment charge of $12.2 million, reflecting its carrying value[179] Tax and Interest - The effective income tax rate for Q3 2025 increased to 26.7%, up from 24.4% in Q3 2024, primarily due to non-deductible impairment charges[128] - Income tax expense decreased by $12.4 million, or 33%, to $25.2 million for the nine months ended September 30, 2025, compared to $37.6 million in 2024[138] - Interest income, net decreased by 46% to $2.9 million in Q3 2025, down from $5.4 million in Q3 2024, reflecting lower yields on cash and investments[127] Segment Performance - LAAP segment net sales increased by $8.4 million, or 6%, for the third quarter of 2025, driven primarily by distributor and China businesses[146] - EMEA segment net sales increased by $22.7 million, or 16%, for the third quarter of 2025, attributed to robust demand across wholesale and DTC channels[147] - Canada segment net sales increased by $5.2 million, or 6%, for the third quarter of 2025, primarily driven by the wholesale business[148] - EMEA segment gross margin expanded to 49.7% for the third quarter of 2025, up from 49.6% in 2024[147] - LAAP segment operating income increased by $6.1 million to $54.5 million, or 13.4% of net sales, driven by a 9% increase in net sales for the nine months ended September 30, 2025[153] - EMEA segment operating income increased by $12.0 million to $78.8 million, or 19.6% of net sales, with net sales rising by $52.3 million, or 15% for the nine months ended September 30, 2025[154] - Canada segment operating income decreased by $3.7 million to $29.8 million, or 18.2% of net sales, despite a 1% increase in net sales for the nine months ended September 30, 2025[155] Cash Flow and Liquidity - Cash flows from operating activities showed a net cash outflow of $333.4 million for the nine months ended September 30, 2025, compared to an outflow of $76.6 million in 2024[160] - As of September 30, 2025, cash and cash equivalents were $228.8 million, down from $531.9 million as of December 31, 2024[163] - The company plans full-year 2025 capital expenditures of approximately $65 to $75 million, focusing on DTC operations and supply chain capabilities[170] - Inventory purchase obligations were $404.2 million as of September 30, 2025, down from $473.0 million as of December 31, 2024[172] Market Risks - Incremental tariffs on imports are expected to impact financials by approximately $35 to $40 million in 2025, with an annualized impact of around $160 million based on 2024 import levels[108] - A 10% unfavorable exchange rate change in various currencies against the U.S. dollar could lead to a decline in net fair value by approximately $94.0 million[184] - The company employs currency forward contracts to manage foreign exchange rate risks associated with anticipated cash flows[183] - The impairment tests are based on assumptions regarding projected net sales, income, cash flows, and discount rates, which may change due to economic conditions[180] - The company does not engage in speculative trading in financial or capital markets, focusing instead on risk mitigation[182] - There have been no material changes in market risk disclosures since the last annual report[185]

Core Insights - Columbia Sportswear Company (COLM) reported better-than-expected results for 3Q25, primarily driven by earlier wholesale shipments, although the bottom line was negatively impacted by impairments [1] Financial Performance - The top line performance exceeded expectations due to earlier wholesale shipments [1] - The bottom line showed worse results attributed to impairments [1] Investment Perspective - The analysis emphasizes a long-only investment strategy, focusing on operational aspects and long-term earnings potential rather than market-driven dynamics [1] - The company aims to provide hold recommendations, reflecting a cautious approach in a bullish market [1]

Core Insights - Columbia Sportswear Company (COLM) reported better than expected results for 3Q25, primarily driven by earlier wholesale shipments, although the bottom line was negatively impacted by impairments [1] Financial Performance - The top line performance exceeded expectations due to earlier wholesale shipments [1] - The bottom line showed worse results attributed to impairments [1] Investment Perspective - The analysis emphasizes a long-only investment strategy, focusing on operational aspects and long-term earnings potential rather than market-driven dynamics [1] - The company aims to provide hold recommendations, reflecting a cautious approach in a bullish market [1]

Core Viewpoint - Columbia Sportswear reported quarterly earnings of $1.41 per share, exceeding the Zacks Consensus Estimate of $1.21 per share, but down from $1.56 per share a year ago, indicating an earnings surprise of +16.53% [1][2] Financial Performance - The company achieved revenues of $943.43 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.40% and showing an increase from $931.77 million year-over-year [2] - Over the last four quarters, Columbia Sportswear has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance and Outlook - Columbia Sportswear shares have declined approximately 38.1% year-to-date, contrasting with the S&P 500's gain of 17.2% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $1.52 for the coming quarter and $3.25 for the current fiscal year [7] Industry Context - The Textile - Apparel industry, to which Columbia Sportswear belongs, is currently ranked in the bottom 19% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Financial Data and Key Metrics Changes - Net sales increased by 1% year-over-year to $943 million, driven by earlier-than-planned shipments of Fall '25 wholesale orders [7][8] - Gross margin declined by 20 basis points to 50% due to higher tariff expenses and foreign exchange headwinds [7][8] - SG&A expenses increased by 5%, reflecting investments in demand creation for the new brand platform [8][54] - Diluted earnings per share were $0.95, impacted by $0.46 from non-cash impairment charges related to Prana and Mountain Hardwear [8][20] Business Line Data and Key Metrics Changes - U.S. net sales decreased by 4%, with wholesale business flat and direct-to-consumer (DTC) net sales declining by high single digits [8][9] - International sales showed growth, with LAAP net sales increasing by 6% and China net sales increasing by mid-single-digit percentages [9][10] - Sorel net sales increased by 10%, while Prana net sales grew by 6% [17][18] - Mountain Hardwear net sales decreased by 5%, but full-price sales showed healthy growth [18][19] Market Data and Key Metrics Changes - U.S. DTC sales were down high single digits, primarily due to the closure of temporary clearance locations [9][50] - E-commerce sales declined by low double digits, reflecting soft traffic and demand trends [9][10] - Canada net sales increased by 7%, driven by earlier shipments of Fall 2025 wholesale orders [12] - EME net sales increased by 10%, with Europe direct net sales growing by low double digits [12] Company Strategy and Development Direction - The company is focused on revitalizing the Columbia brand in the U.S. through the Accelerate Growth strategy and the new global brand platform, "Engineered for Whatever" [5][6] - The strategy includes a robust marketing pipeline and product differentiation to engage younger consumers [5][6] - The company aims to offset tariff impacts through price increases and other mitigation tactics while restoring product margin percentages to historic levels [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the challenges posed by tariffs and the competitive environment, emphasizing the importance of brand revitalization [6][30] - The company anticipates a decline in net sales of 5% to 8% year-over-year for Q4, with full-year net sales outlook at $3.3 billion to $3.4 billion [20][21] - For 2026, the company expects flat to low single-digit wholesale growth in the first half, driven by sustained international growth [21][22] Other Important Information - The company incurred $29 million in non-cash impairment charges during the quarter, primarily due to tariff impacts [8][20] - Columbia launched a redesigned website to enhance product discovery and consumer engagement [14][15] - The company is actively engaging in unique marketing activations, including a scavenger hunt in New York City to promote brand awareness [16][17] Q&A Session Summary Question: Impact of the Bugaboo re-release - The collaboration on the Bugaboo One involved both the CEO and his mother, with the CEO handling product work and his mother focusing on the name [23] Question: Future product pipeline - The company plans to introduce more products in the Amaze family and original Peter Moore designs, indicating strong sales velocity [24][25] Question: Confidence in offsetting tariff impacts - Management expressed confidence in navigating tariff challenges through price increases and strategic factory partnerships [30] Question: SG&A rate recovery - The company aims to achieve SG&A leverage through growth and cost reduction initiatives, with a focus on marketing investments [31][32] Question: Promotional levels and inventory - The company noted lower promotions compared to the previous year, with healthy margins in the marketplace [34] Question: U.S. DTC performance - The decline in U.S. DTC was primarily due to fewer temporary clearance stores, with digital visibility being a key focus [50] Question: Gross margin outlook - The fourth quarter is expected to see a heavier tariff impact, with gross margin anticipated to decline more than in Q3 [45] Question: Channel inventory levels - Current channel inventories are considered healthy, with no significant buildup observed [46]

Financial Performance - Net sales increased by 1% to $943.4 million compared to $931.8 million in Q3'24 [31] - Gross margin contracted by 20 bps to 50.0% [31, 52] - Operating income decreased by 40% to $67.4 million compared to $112.5 million in Q3'24 [31] - Diluted EPS decreased by 39% to $0.95 compared to $1.56 in Q3'24 [31] Regional Performance - US net sales decreased by 4% to $547 million [36] - EMEA net sales increased by 16% to $164 million [36] - LAAP net sales increased by 6% to $143 million [36] - Canada net sales increased by 6% to $89 million [36] Category and Channel Performance - Apparel, Accessories & Equipment net sales remained flat at $734 million [43] - Footwear net sales increased by 6% to $209 million [43] - Wholesale net sales increased by 5% to $634 million [48] - DTC net sales decreased by 5% to $309 million [49] Financial Outlook - The company expects net sales of $3.33 billion to $3.37 billion for 2025, representing a 1% decline to flat growth compared to 2024 [75] - The company expects diluted EPS of $2.55 to $2.85 for 2025, compared to $3.82 in 2024 [76]

Financial Performance - Third quarter 2025 net sales increased 1 percent to $943.4 million, compared to $931.8 million in the third quarter of 2024[9] - Operating income decreased 40 percent to $67.4 million, or 7.1 percent of net sales, down from $112.5 million, or 12.1 percent of net sales in the prior year[6] - Diluted earnings per share were $0.95, compared to $1.56 in the third quarter of 2024, impacted by $0.46 from impairment charges[14] - Full year 2025 net sales guidance is $3.33 to $3.37 billion, reflecting a decline of 1.0 percent to flat compared to 2024[33] - Operating income for full year 2025 is projected to be between $163 million and $185 million, with an operating margin of 4.9 to 5.5 percent[33] - Gross margin for the third quarter contracted 20 basis points to 50.0 percent from 50.2 percent in the prior year, due to tariffs and unfavorable foreign exchange rates[10] - SG&A expenses increased to $380.9 million, or 40.4 percent of net sales, compared to $361.2 million, or 38.8 percent of net sales in the third quarter of 2024[11] - The company exited the quarter with $236.0 million in cash and no borrowings[19] Sales Performance by Region and Channel - In the United States, net sales decreased by 4% to $546,690 thousand from $571,306 thousand year-over-year[46] - Europe, Middle East and Africa saw a significant increase in net sales of 16%, reaching $164,461 thousand compared to $141,785 thousand in the previous year[46] - SOREL brand net sales increased by 10% to $80,964 thousand from $73,903 thousand year-over-year[46] - Direct-to-consumer (DTC) channel net sales decreased by 5% to $309,254 thousand from $326,551 thousand in the same quarter last year[46] - Latin America and Asia Pacific net sales grew by 9% to $407,901 thousand compared to $373,115 thousand in the previous year[49] - Wholesale channel net sales increased by 6% to $1,351,158 thousand from $1,274,498 thousand in the same period last year[49] Strategic Initiatives - The ACCELERATE Growth Strategy aims to attract younger consumers and includes a new brand platform, 'Engineered for Whatever'[4][5] - The company plans to report fourth quarter 2025 financial results on February 3, 2026[31] Overall Sales Performance - For the nine months ended September 30, 2025, total net sales were $2,327,123 thousand, a 2% increase from $2,271,994 thousand in 2024[49] - Apparel, accessories, and equipment category net sales for the nine months increased by 2% to $1,857,437 thousand from $1,818,350 thousand year-over-year[49] - The company reported a constant-currency net sales growth of 3% for the nine months ended September 30, 2025, compared to the previous year[49]