Columbia Sportswear Company (NASDAQ:COLM) Q1 2023 Earnings Conference Call April 27, 2023 5:00 PM ET Company Participants Andrew Burns - Investor Relations Tim Boyle - Chairman, President and CEO Jim Swanson - Executive Vice President and CFO Peter Bragdon - Executive Vice President, Chief Administrative Officer and General Counsel Conference Call Participants Bob Drbul - Guggenheim Securities Laurent Vasilescu - BNP Paribas Mitch Kummetz - Seaport Research John Kernan - TD Cowen Jim Duffy - Stifel Abbie Zv ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Columbia Sportswear, a global leader in outdoor and lifestyle products, operates four brands and sells through wholesale and direct-to-consumer channels globally - The company's four primary brands are **Columbia®**, **SOREL®**, **Mountain Hardwear®**, and **prAna®**, each targeting different segments of the outdoor, active, and lifestyle market[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk) - The business is seasonal, with a significant portion of sales occurring in the **third and fourth quarters**[21](index=21&type=chunk) - The company sells products in approximately **90 countries** across four geographic segments: **U.S., Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada**[35](index=35&type=chunk) Manufacturing Concentration by Country (2022) | Product Category | Country | Production Share | | :--- | :--- | :--- | | Apparel, Accessories & Equipment | Vietnam | ~40% | | | Bangladesh | ~20% | | | Indonesia | ~15% | | | India | ~10% | | Footwear | Vietnam | ~70% | | | China | ~20% | Employee Workforce Breakdown (as of Dec 31, 2022) | Employee Type | Number of Employees | | :--- | :--- | | Full-time and part-time retail | ~5,040 | | Distribution center | ~1,270 | | Corporate and/or office | ~3,140 | | **Total** | **~9,450** | [Information About Our Executive Officers](index=14&type=section&id=Information%20About%20Our%20Executive%20Officers) This section details biographical information for the company's nine executive officers, including Chairman, President, and CEO Timothy P. Boyle - Timothy P. Boyle, a third-generation member of the founding family, serves as **Chairman, President, and Chief Executive Officer**[68](index=68&type=chunk) - The executive team includes leaders with significant prior experience at **Nike, Inc.**, such as Lisa A. Kulok (Chief Supply Chain Officer), Skip Potter (Chief Digital Information Officer), Tim Sheerin (SVP, Global Wholesale), and Craig Zanon (SVP, Emerging Brands)[71](index=71&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) [Risk Factors](index=16&type=section&id=Item%201A.%20Risk%20Factors) The company faces numerous material risks including volatile consumer demand, intense competition, supply chain disruptions, and global regulatory changes - Changes in consumer demand are a **primary risk**, influenced by volatile economic conditions, competition, weather, and shifting consumer preferences[80](index=80&type=chunk) - Inaccurate demand forecasting poses a **significant risk**, potentially leading to excess inventory and write-downs, or inventory shortages and lost sales; the company notes it currently has **inventory levels in excess of demand**[84](index=84&type=chunk)[85](index=85&type=chunk) - The company relies on **contract manufacturers**, primarily in the **Asia Pacific region**, creating risks related to production capacity, quality control, and labor practices[88](index=88&type=chunk)[91](index=91&type=chunk) - Global operations are subject to risks from **currency fluctuations, geopolitical instability, and changes in trade policies**, with heightened exposure in Vietnam (manufacturing) and China (raw materials)[125](index=125&type=chunk)[130](index=130&type=chunk) - As of December 31, 2022, three related shareholders controlled **just under 50%** of the company's outstanding common stock, allowing them to exercise significant influence over corporate matters[153](index=153&type=chunk) [Unresolved Staff Comments](index=35&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - None[156](index=156&type=chunk) [Properties](index=36&type=section&id=Item%202.%20Properties) The company's principal properties include owned headquarters and distribution centers, alongside approximately 450 mostly leased retail stores - Key **owned properties** include the corporate headquarters in Portland, OR, and major distribution centers in the U.S., Canada, and France[159](index=159&type=chunk) - As of December 31, 2022, the company operated **approximately 450 retail stores**, with most locations being leased[159](index=159&type=chunk) [Legal Proceedings](index=36&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in various legal matters, none of which are expected to materially affect its financial condition or operations - The company does not expect ongoing litigation to have a **material adverse effect** on its financials[160](index=160&type=chunk) [Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[161](index=161&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=37&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on NASDAQ, with a quarterly dividend approved and $529.4 million remaining for share repurchases - The Board of Directors approved a regular quarterly cash dividend of **$0.30 per share**, payable on March 21, 2023[166](index=166&type=chunk) - As of December 31, 2022, **$529.4 million** remained available under the company's share repurchase authorization; no stock was repurchased during the quarter ended December 31, 2022[170](index=170&type=chunk)[171](index=171&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2022, net sales grew 11% to $3.46 billion, but gross margin declined due to freight costs, and operating income fell, impacted by an impairment charge Consolidated Results of Operations (2022 vs 2021, in Millions) | Metric | 2022 | 2021 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $3,464.2 M | $3,126.4 M | 11% | | Gross Profit | $1,711.1 M | $1,612.5 M | 6% | | Gross Margin | 49.4% | 51.6% | -220 bps | | Operating Income | $393.1 M | $450.5 M | -13% | | Net Income | $311.4 M | $354.1 M | -12% | | Diluted EPS | $4.95 | $5.33 | -7% | - The company recognized a **$35.6 million** impairment charge in 2022 related to the prAna brand's trademark and goodwill[202](index=202&type=chunk) - Key business environment trends impacting results included **inflationary pressures**, a **strengthening U.S. dollar**, **increased freight costs**, later inventory receipts, and **elevated inventory levels** across the marketplace[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk) - Inventory increased to **$1,028.5 million** at year-end 2022 from **$645.4 million** in 2021, due to unrealized sales growth projections and earlier receipts of Spring 2023 products; the company expects inventory to normalize in the second half of 2023[228](index=228&type=chunk) - Planned capital expenditures for 2023 are approximately **$70 to $90 million**, focusing on DTC operations, distribution projects, and digital capabilities[229](index=229&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=59&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is foreign currency exchange rate fluctuations, managed through forward contracts, with limited interest rate risk due to no outstanding credit facility balances - The primary market risk is **foreign currency exchange rate fluctuations**, which the company manages mainly through **currency forward contracts** to hedge anticipated inventory purchases and non-functional currency sales[257](index=257&type=chunk) - A hypothetical **10% unfavorable change** in exchange rates would have resulted in a decline of approximately **$66.4 million** in the net fair value of derivative contracts as of December 31, 2022, which would be substantially offset by changes in the value of the underlying hedged transactions[258](index=258&type=chunk) [Financial Statements and Supplementary Data](index=60&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements, with an unqualified auditor's opinion, noting critical audit matters related to prAna trademark and goodwill impairment testing - The independent auditor, Deloitte & Touche LLP, issued an **unqualified opinion** on the consolidated financial statements and the effectiveness of internal control over financial reporting[266](index=266&type=chunk)[280](index=280&type=chunk) - Critical Audit Matters identified were related to the valuation of the **prAna trademark and goodwill**, specifically the subjective nature of management's projected revenue forecasts used in the impairment analysis[271](index=271&type=chunk)[274](index=274&type=chunk) Key Consolidated Balance Sheet Data (as of Dec 31, in thousands) | (in thousands) | 2022 | 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $430,241 | $763,404 | | Inventories | $1,028,545 | $645,379 | | Total Assets | $3,051,546 | $3,067,128 | | Total Liabilities | $1,115,757 | $1,077,876 | | Total Shareholders' Equity | $1,935,789 | $1,989,252 | Key Consolidated Statements of Cash Flows Data (Year Ended Dec 31, in thousands) | (in thousands) | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(25,241) | $354,406 | | Net cash provided by (used in) investing activities | $72,740 | $(163,751) | | Net cash used in financing activities | $(360,831) | $(210,889) | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=111&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[430](index=430&type=chunk) [Controls and Procedures](index=111&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2022 - Management concluded that disclosure controls and procedures were **effective** as of December 31, 2022[432](index=432&type=chunk) - Management concluded that internal control over financial reporting was **effective** as of December 31, 2022[434](index=434&type=chunk) [Other Information](index=111&type=section&id=Item%209B.%20Other%20Information) The company reports no other information - None[438](index=438&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=113&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the company's 2023 Proxy Statement - This section incorporates information **by reference** from the company's 2023 Proxy Statement[441](index=441&type=chunk) [Executive Compensation](index=113&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive and director compensation is incorporated by reference from the company's 2023 Proxy Statement - This section incorporates information **by reference** from the company's 2023 Proxy Statement[442](index=442&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=113&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership and equity compensation plans is incorporated by reference from the company's 2023 Proxy Statement - This section incorporates information **by reference** from the company's 2023 Proxy Statement[443](index=443&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=113&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding related person transactions and director independence is incorporated by reference from the company's 2023 Proxy Statement - This section incorporates information **by reference** from the company's 2023 Proxy Statement[444](index=444&type=chunk) [Principal Accountant Fees and Services](index=113&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's 2023 Proxy Statement - This section incorporates information **by reference** from the company's 2023 Proxy Statement[445](index=445&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=114&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists financial statements, schedules, and exhibits filed as part of the Annual Report on Form 10-K, including Schedule II - This section contains the **index of all exhibits** filed with the 10-K, including credit agreements, incentive plans, and certifications[449](index=449&type=chunk)[451](index=451&type=chunk) Schedule II: Valuation and Qualifying Accounts - Allowance for Doubtful Accounts (in thousands) | (in thousands) | Balance at Beginning of Period | Charged to Costs and Expenses | Deductions | Other | Balance at End of Period | | :--- | :--- | :--- | :--- | :--- | :--- | | Year Ended Dec 31, 2022 | $8,893 | $(2,044) | $(980) | $(426) | $5,443 | | Year Ended Dec 31, 2021 | $21,810 | $(10,758) | $(210) | $(1,949) | $8,893 | [Form 10-K Summary](index=120&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company provides no summary in this section - None[463](index=463&type=chunk)

Columbia Sportswear Company (NASDAQ:COLM) Q4 2022 Earnings Conference Call February 2, 2023 5:00 PM ET Company Participants Andrew Burns - Director, IR Tim Boyle - Chairman, President and CEO Jim Swanson - EVP and CFO Conference Call Participants Bob Drbul - Guggenheim Laurent Vasilescu - BNP Paribas Mitch Kummetz - Seaport Research Tracy Kogan - Citigroup Mauricio Serna - UBS Alex Perry - Bank of America Alex Douglas - Cowen Operator Greetings. Welcome to Columbia Sportswear Fourth Quarter 2020 Financial R ...

Columbia Sportswear Company (NASDAQ:COLM) Q3 2022 Earnings Conference Call October 27, 2022 5:00 PM ET Company Participants Andrew Burns - Director, IR Tim Boyle - Chairman, President and CEO Jim Swanson - EVP and CFO Conference Call Participants Bob Drbul - Guggenheim Laurent Vasilescu - BNP Paribas Tracy Kogan - Citi Krista Zuber - Cowen Mitch Kummetz - Seaport Research Alex Perry - Bank of America Steve Marotta - CL King Associates Operator Greetings, ladies and gentlemen and welcome to Columbia Sportswe ...

[PART I — FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section details the company's financial performance, condition, and related disclosures for the reporting period [Item 1. Financial Statements and Supplementary Data](index=5&type=section&id=Item%201.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the unaudited condensed consolidated financial statements, highlighting a 2% Q2 net sales increase, a significant drop in net income, and a sharp rise in inventories leading to negative operating cash flow [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows total assets at $2.73 billion, a decrease driven by reduced cash, while inventories significantly increased to $962.9 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | Dec 31, 2021 | June 30, 2021 | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $413,110 | $763,404 | $819,806 | | Inventories, net | $962,875 | $645,379 | $676,009 | | Total current assets | $1,795,133 | $2,114,037 | $1,878,719 | | Total assets | $2,726,788 | $3,067,128 | $2,863,299 | | Total current liabilities | $618,444 | $680,390 | $567,600 | | Total liabilities | $995,071 | $1,077,876 | $1,001,642 | | Total shareholders' equity | $1,731,717 | $1,989,252 | $1,861,657 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 net sales increased 2% to $578.1 million, but gross profit declined, leading to a sharp 75% drop in operating income and an 82% decrease in net income Q2 Statement of Operations (in thousands, except per share amounts) | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | Net sales | $578,063 | $566,370 | +2.1% | | Gross profit | $284,160 | $292,517 | -2.9% | | Operating income | $8,773 | $34,995 | -74.9% | | Net income | $7,163 | $40,684 | -82.4% | | Diluted EPS | $0.11 | $0.61 | -82.0% | Six Months Statement of Operations (in thousands, except per share amounts) | Metric | H1 2022 | H1 2021 | Change | | :--- | :--- | :--- | :--- | | Net sales | $1,339,573 | $1,191,976 | +12.4% | | Gross profit | $662,607 | $613,919 | +8.0% | | Operating income | $92,439 | $105,475 | -12.4% | | Net income | $74,000 | $96,584 | -23.4% | | Diluted EPS | $1.16 | $1.44 | -19.4% | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow turned negative at $112.7 million for H1 2022, primarily due to a significant inventory build-up, while financing activities used $325.3 million for repurchases and dividends Six Months Cash Flow Summary (in thousands) | Activity | H1 2022 | H1 2021 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(112,668) | $117,162 | | Net cash provided by (used in) investing activities | $101,865 | $(11,203) | | Net cash used in financing activities | $(325,317) | $(73,988) | | Net decrease in cash and cash equivalents | $(350,294) | $29,081 | - The significant use of cash in operations was primarily due to a **$332.2 million increase in inventories**, compared to a $123.7 million increase in the prior year period[16](index=16&type=chunk) - The company used **$287.4 million for common stock repurchases** in H1 2022, a substantial increase from $54.5 million in H1 2021[16](index=16&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes disclose disaggregated revenue by product, channel, and geography, highlight the expanded share repurchase program, and explain regional performance variations Q2 2022 Net Sales by Product Category & Channel (in thousands) | Category/Channel | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | **Product Category** | | | | | Apparel, Accessories & Equipment | $468,318 | $453,050 | +3.4% | | Footwear | $109,745 | $113,320 | -3.2% | | **Channel** | | | | | Wholesale | $299,896 | $302,303 | -0.8% | | Direct-to-consumer | $278,167 | $264,067 | +5.3% | Q2 2022 Net Sales by Geographic Segment (in thousands) | Segment | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | U.S. | $412,485 | $379,065 | +8.8% | | LAAP | $72,825 | $77,975 | -6.6% | | EMEA | $57,542 | $88,574 | -35.0% | | Canada | $35,211 | $20,756 | +69.6% | - In April 2022, the Board of Directors authorized an additional **$500 million** for the stock repurchase plan[53](index=53&type=chunk)[54](index=54&type=chunk) - As of June 30, 2022, **$529.4 million** remained available under the program[53](index=53&type=chunk)[54](index=54&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the challenging business environment, detailing Q2 sales growth, gross margin contraction, plummeting operating income, and the impact of increased inventory on cash flow [Business Environment and Trends](index=28&type=section&id=Business%20Environment%20and%20Trends) The company identifies inflationary pressures, a strengthening U.S. dollar, persistent supply chain disruptions, and excess marketplace inventory as key business challenges - Inflationary pressures, a strong U.S. dollar, and recession fears are weighing on consumer discretionary spending[101](index=101&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk) - Supply chain disruptions have led to later-than-expected inventory receipts for Fall 2021, Spring 2022, and Fall 2022 seasons[107](index=107&type=chunk) - Excess inventory in the marketplace, caused by the arrival of delayed orders and slowing demand, has led to increased order cancellations and an expected increase in promotional activity[109](index=109&type=chunk) [Results of Operations — Consolidated](index=32&type=section&id=Results%20of%20Operations%20%E2%80%94%20Consolidated) Consolidated Q2 net sales increased 2%, but gross margin contracted by 240 basis points due to freight costs, and SG&A expenses rose, leading to a 75% drop in operating income Q2 2022 Net Sales Change by Brand (Constant-Currency) | Brand | % Change (Constant-Currency) | | :--- | :--- | | Columbia | +3% | | SOREL | +26% | | prAna | +3% | | Mountain Hardwear | +19% | | **Total** | **+4%** | - Gross margin contracted by **240 bps** in Q2, primarily due to an approximate **310 bps decrease** related to elevated inbound freight costs[124](index=124&type=chunk) - SG&A expenses increased by **7%** in Q2, driven by higher personnel expenses and increased demand creation spending[127](index=127&type=chunk) [Results of Operations — Segment](index=39&type=section&id=Results%20of%20Operations%20%E2%80%94%20Segment) Segment performance varied, with U.S. and Canada sales growing, while EMEA sales declined sharply due to Russia, and LAAP sales were impacted by COVID-19 in China Q2 2022 Segment Performance (in millions) | Segment | Net Sales | Net Sales % Change | Operating Income (Loss) | Change in Op. Income | | :--- | :--- | :--- | :--- | :--- | | U.S. | $412.5 | +9% | $67.3 | $(14.8) | | LAAP | $72.8 | -7% | $(3.1) | $(2.1) | | EMEA | $57.6 | -35% | $(1.0) | $(12.5) | | Canada | $35.2 | +69% | $3.5 | $2.9 | - The EMEA net sales decrease was driven by the curtailment of shipments to the Russia-based distributor[146](index=146&type=chunk) - The LAAP net sales decrease was primarily in the China business, due to government efforts to control the spread of COVID-19[145](index=145&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity despite a decrease in cash, primarily due to negative operating cash flow driven by inventory build-up and significant stock repurchases - Total liquidity as of June 30, 2022, was over **$915 million**, including cash, short-term investments, and available credit lines[157](index=157&type=chunk) - Inventory balance increased to **$962.9 million** as of June 30, 2022, compared to $676.0 million a year prior, reflecting anticipated sales growth and lower-than-expected sales[170](index=170&type=chunk) - Planned capital expenditures for 2022 are approximately **$80 to $100 million**, focusing on digital, supply chain, and DTC operations[171](index=171&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There have been no material changes in market risk disclosures from the 2021 Annual Report on Form 10-K - There has not been any material change in the market risk disclosure from the company's 2021 Annual Report on Form 10-K[178](index=178&type=chunk) [Item 4. Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting - The company's management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of the end of the quarter[179](index=179&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended June 30, 2022[180](index=180&type=chunk) [PART II — OTHER INFORMATION](index=52&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section provides information on legal proceedings, key risk factors, equity security sales, and a list of filed exhibits [Item 1. Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation but does not expect it to have a material adverse effect on its financial position or results - The company is involved in routine litigation but does not expect it to have a material adverse effect on its financial position or results[181](index=181&type=chunk) [Item 1A. Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) This section details significant risks including volatile economic conditions, intense competition, supply chain disruptions, inventory imbalances, cybersecurity threats, regulatory non-compliance, and public health impacts - Demand risks include volatile economic conditions, intense competition, changing consumer preferences, and unseasonable weather[183](index=183&type=chunk) - Supply chain risks stem from reliance on contract manufacturers in Asia, raw material price volatility, and dependence on third-party logistics providers, which are currently facing constraints[193](index=193&type=chunk)[198](index=198&type=chunk)[199](index=199&type=chunk) - The inability to accurately forecast demand can lead to excess inventory, write-downs, and discounted sales, or inventory shortages and lost sales[188](index=188&type=chunk)[189](index=189&type=chunk) - The COVID-19 pandemic continues to pose risks by disrupting the supply chain, restricting retail operations, causing labor shortages, and impacting consumer demand[249](index=249&type=chunk)[250](index=250&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=75&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the company repurchased 906,704 shares for $69.6 million, with $529.4 million remaining available under the repurchase program Q2 2022 Share Repurchases | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2022 | 94,423 | $88.85 | | May 2022 | 651,557 | $76.75 | | June 2022 | 160,724 | $69.98 | | **Total Q2** | **906,704** | **$76.81** | - As of June 30, 2022, approximately **$529.4 million** remained available for repurchase under the company's publicly announced plan[263](index=263&type=chunk)[264](index=264&type=chunk) [Item 6. Exhibits](index=76&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the report, including certifications from the CEO and CFO and XBRL data files - Lists exhibits filed with the report, including certifications from the CEO and CFO (Exhibits 31.1, 31.2, 32.1, 32.2) and XBRL data files[266](index=266&type=chunk)

Columbia Sportswear Company (NASDAQ:COLM) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET Company Participants Andrew Burns - Director of Investor Relations Tim Boyle - Chairman, President and Chief Executive Officer Jim Swanson - Executive Vice President and Chief Financial Officer Conference Call Participants Bob Drbul - Guggenheim Jim Duffy - Stifel Financial Corp. Laurent Vasilescu - Exane BNP Paribas Mackenzie Boydston - BTIG John Kernan - Cowen Mitch Kummetz - Seaport Research Paul Lejuez - ...

Columbia Sportswear Company (NASDAQ:COLM) Q1 2022 Results Earnings Conference Call April 28, 2022 5:00 PM ET Company Participants Andrew Burns - Director of IR & Competitive Intelligence Timothy Boyle - Chairman, CEO & President Jim Swanson - EVP & CFO Peter Bragdon - EVP and Chief Administrative Officer Conference Call Participants Bob Drbul - Guggenheim Jim Duffy - Stifel Laurent Vasilescu - Exane Jonathan Komp - R. W. Baird Krista Zuber - Cowen Mitch Kummetz - Seaport Global Mackenzie Boydston - BTIG Mau ...