Financial Data and Key Metrics Changes - Full year 2025 net sales increased by 1% to $3.4 billion, with international market growth offsetting challenges in the U.S. [8][10] - Fourth quarter net sales decreased by 2% year-over-year to $1.1 billion, driven by a 7% decrease in wholesale net sales, partially offset by a 1% increase in direct-to-consumer sales [11][12] - Gross margin expanded by 50 basis points to 51.6%, attributed to cleaner inventories and lower promotions [11][12] - SG&A expenses increased by 3%, reflecting higher DTC expenses and non-recurring costs associated with a profit improvement program [11][12] Business Line Data and Key Metrics Changes - Columbia brand net sales decreased by 1%, with international growth offset by declines in the U.S. [17] - Sorel net sales decreased by 18% due to earlier shipment of fall wholesale orders and less clearance activity [21] - Prana net sales increased by 6%, driven by DTC growth and strong momentum for updated product offerings [22] - Mountain Hardwear net sales decreased by 5%, despite healthy underlying business trends in outerwear and fleece [23] Market Data and Key Metrics Changes - U.S. net sales decreased by 8%, with wholesale business down in the high teens percentage [12][13] - International sales showed strong growth, with LAAP net sales increasing by 10% and China net sales increasing in the low double digits [13][16] - Japan net sales increased by high single digits, while Korea net sales increased by low single digits [14][15] Company Strategy and Development Direction - The Columbia Accelerate Growth Strategy is attracting younger consumers with new product collections and differentiated marketing [6][10] - The Engineered for Whatever campaign has driven robust consumer engagement and brand awareness [18][19] - The company aims to maintain a fortress balance sheet with $791 million in cash and no debt, while returning cash to shareholders through share repurchases and dividends [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for growth in the second half of 2026, particularly in the U.S. wholesale business [24][50] - The company anticipates net sales growth of 1%-3% for 2026, with a focus on expanding operating margins despite ongoing tariff headwinds [10][26] - Management highlighted the importance of weather conditions on sales performance and inventory levels [56][80] Other Important Information - The company has successfully launched new product collections, including the Amaze Puff, which resonated well with consumers [9][17] - The company is the official uniform sponsor for the USA Curling National Team at the upcoming 2026 Winter Olympic Games [19] Q&A Session Summary Question: Trends in the business and order book status - Management noted strong bookings and cautious retailer approaches due to tariff impacts, with expectations for improved performance in the spring [31][32] Question: Brand advertising and marketing spend - Management indicated that current marketing spend is efficient, with plans to maintain similar levels in 2026 [34][36] Question: Overlap with Eddie Bauer store closures - Management acknowledged potential opportunities to gain market share as Eddie Bauer closes stores, though exact overlap is uncertain [40][42] Question: Gross margin and tariff impacts - Management explained that unmitigated tariff costs are expected to impact gross margins, with price increases planned to offset these costs [43][45] Question: U.S. market health and growth expectations - Management expects a return to growth in the U.S. wholesale business in the second half of 2026, with improvements anticipated across all brands [49][66] Question: Fall 2026 order book and pricing strategy - Management confirmed that the U.S. wholesale order book is up, but unit sales may be down due to cautious retailer behavior [79][80]

AGENDA CFO COMMENTARY AND FINANCIAL REVIEW FOURTH QUARTER AND FULL YEAR 2025 FEBRUARY 3, 2026 CSC Confidential – Sensitive Information FORWARD-LOOKING STATEMENTS This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. This presentation contains forward-looking statements within the meaning of the federal securities laws regarding Columbia Sportswear Company's business opportunities and anticipated results of ...

Sales Performance - Fourth quarter 2025 net sales decreased 2 percent to $1,070.2 million compared to $1,096.6 million in fourth quarter 2024[5] - Full year 2025 net sales increased 1 percent to $3,397.4 million from $3,368.6 million in 2024[14] - Net sales for 2025 were $3,397.4 million, a slight increase from $3,368.6 million in 2024, reflecting a growth of approximately 0.9% year-over-year[46] - Total net sales for the three months ended December 31, 2025, were $1,070,228, a decrease of 2% compared to $1,096,587 in the same period of 2024[50] - In the United States, net sales decreased by 8% to $626,045 from $682,287 year-over-year[50] - Latin America and Asia Pacific saw an increase in net sales by 8% to $206,762, up from $187,591[50] - For the twelve months ended December 31, 2025, total net sales were $3,397,351, reflecting a 1% increase from $3,368,582 in 2024[53] - The United States reported a 4% decline in net sales for the twelve months, totaling $1,979,033 compared to $2,068,228 in 2024[53] - Columbia brand net sales for the three months decreased by 1% to $934,164 from $945,446[50] - SOREL brand net sales dropped significantly by 18% to $79,271 from $97,669 year-over-year[50] - Apparel, accessories, and equipment net sales for the twelve months were $2,712,390, a 1% increase from $2,687,174[53] - Direct-to-consumer (DTC) channel net sales for the three months increased by 1% to $639,511, compared to $636,728 in the previous year[50] - Wholesale channel net sales for the twelve months increased by 3% to $1,780,554 from $1,734,358[53] Financial Metrics - Fourth quarter 2025 gross margin expanded 50 basis points to 51.6 percent of net sales, despite $20.0 million impact from incremental U.S. tariffs[10] - Full year 2025 operating income decreased 24 percent to $207.0 million, or 6.1 percent of net sales, compared to 8.0 percent in 2024[15] - Diluted earnings per share for fourth quarter 2025 was $1.73, down from $1.80 in fourth quarter 2024[13] - Gross margin improved to 50.5% in 2025 from 50.2% in 2024, indicating better cost management and pricing strategies[46] - Net income for 2025 was $177.2 million, down from $223.3 million in 2024, representing a decrease of about 20.6%[46] - The company reported diluted earnings per share of $3.24 for 2025, compared to $3.82 in 2024, reflecting a decline of approximately 15.2%[46] - Operating income for 2025 was $207.0 million, down from $270.7 million in 2024, indicating a decline of about 23.5%[46] - The company experienced a net cash provided by operating activities of $282.9 million in 2025, significantly lower than $491.0 million in 2024, a decrease of approximately 42.5%[48] - Selling, general and administrative expenses increased to $1,502.5 million in 2025 from $1,443.9 million in 2024, an increase of about 4.0%[46] Future Projections - Full year 2026 net sales are expected to be between $3.43 billion and $3.50 billion, representing growth of 1.0 to 3.0 percent compared to 2025[28] - Full year 2026 gross margin is expected to contract to 49.8 to 50.0 percent of net sales, impacted by incremental tariffs[29] - Operating cash flow for 2026 is projected to be between $300 million and $330 million[33] Shareholder Returns - The company repurchased 2,972,889 shares for $201.1 million in 2025, with $426.5 million remaining under the stock repurchase authorization[25] - A quarterly cash dividend of $0.30 per share was approved, payable on March 20, 2026[26] Strategic Focus - The company plans to focus on its ACCELERATE Growth Strategy and aims to manage expenses effectively to drive long-term market share gains[39]

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Key Takeaways COLM Q4 revenues are projected to fall 5.5% y/y to $1.01-$1.04B.COLM faces tougher comparisons from Q3 pull-forward shipments, softer U.S. demand and weak DTC trends.Higher tariffs of $20-$25M and low to mid-single-digit cost growth likely pressured Q4 margins.Columbia Sportswear Company (COLM) is likely to register a decline in both top and bottom lines when it reports fourth-quarter 2025 earnings on Feb. 3, after market close. The Zacks Consensus Estimate for fourth-quarter revenues is pegge ...

Columbia Sportswear ( COLM ) is set to report its Q4 2025 earnings on February 3. The final quarter of the year is always a crucial one for the company as it is its largest revenueI have been involved in the financial world for over 20 years with experience as an advisor, teacher, and writer. I am a full believer in the free-market system and that financial markets are efficient with most stocks reflecting their real current value. The best opportunities for profits on individual stocks come from stocks tha ...

Investment Rating - The industry rating is "Buy" [5] Core Insights - In Q3 2025, the overall revenue growth of overseas sports footwear and apparel companies slightly declined compared to Q2 2025, with a mixed performance in gross margins and an increase in most companies' SG&A expenses [5][12] - Brands focusing on niche segments like running and outdoor activities, such as ANTA, ASICS, and Deckers Outdoor, maintained high revenue growth rates, with ANTA growing by 34.5%, ASICS by 20.4%, and Deckers by 8.3% [12][13] - Most overseas sports footwear and apparel companies continued to show positive revenue growth, with notable performances from Skechers [12] - Revenue growth rates varied by region, with North America, Europe, and Greater China showing different trends; Europe had the best performance in Q3 2025 [5][20] - The apparel category showed stronger resilience in sales compared to footwear in Q3 2025 [5][25] Summary by Sections Section 1: Revenue Growth and Margin Performance - In Q3 2025, the revenue growth of overseas sports footwear companies decreased slightly compared to Q2 2025, with most companies experiencing an increase in SG&A expenses [5][12] - The revenue growth rates for major brands in Q3 2025 included Adidas at 8%, Lululemon at 7.1%, and ASICS at 20.4% [13][18] Section 2: Inventory Levels - Most overseas sports footwear companies saw an increase in inventory turnover ratios in Q3 2025, but overall inventory levels remained manageable [5][12] Section 3: Revenue Guidance for Fiscal Year 2025 - Compared to 2024, many companies have lowered their revenue growth guidance for the current fiscal year, although brands like Adidas, ANTA, and Lululemon have raised their full-year guidance for 2025 [5][18] Section 4: Investment Recommendations - Despite the slight decline in revenue growth and rising inventory turnover ratios, the long-term outlook for the sports footwear industry remains positive, driven by upcoming major sporting events and a recovery in order placements [5][18]

Core Insights - Columbia Sportswear is the official uniform sponsor for the USA Curling National Team for the 2026 Winter Olympic Games, showcasing a blend of technical performance and national pride [1][4] - The new uniforms feature designs that reflect American heritage, including a dark jersey with eight cascading stars and at least 250 stars to commemorate the 250th anniversary of America's independence [2][4] - Columbia is also providing additional apparel for athletes, including insulated parkas with the brand's Omni-Heat™ Infinity technology, designed in a patriotic gold star pattern [3][4] Company Overview - Columbia Sportswear, based in Portland, Oregon, has been creating innovative outdoor apparel and equipment since 1938, establishing itself as a leading global brand through its commitment to performance and technology [5] - The company emphasizes its innovative spirit and dedication to keeping outdoor enthusiasts warm, dry, cool, and protected year-round [5] Industry Context - USA Curling, founded in 1958, serves as the National Governing body for curling in the United States, focusing on the growth and advocacy of the sport at all levels [6] - The organization is supported by various sponsors, including Columbia Sportswear, and aims to enhance accessibility and programmatic development in curling [6]

Core Insights - Columbia Sportswear has launched The Endor™ Collection, marking its largest special-edition release inspired by Star Wars™ to date [1] Company Overview - The Endor™ Collection is a significant addition to Columbia Sportswear's product lineup, showcasing the company's commitment to innovative and themed merchandise [1]

Holiday Shopping Season & Promotions - Columbia is offering 50% off winter essentials during the Black Friday discount frenzy [1][2] - Black Friday has evolved into a global promotional period spanning from early November to Cyber Monday [3] - Consumers are seeking value, especially in North America [4] Tariffs & Pricing - Columbia anticipates raising prices in the spring and fall of 2026 due to tariffs [1][4] - Columbia was the 81st largest duty payer in the US in 2024, indicating existing high tariffs on its commodities [7] - The company expects to pay more in tariffs next year, necessitating price increases [8] - Tariffs are an important element of cost globally [8] Global Business & Sourcing - The company's products are sold at the highest value and velocity in warmer regions like the Middle East [6] - Columbia sources its products globally, primarily from the Asian continent, with Vietnam being the largest single source [8][9] Stock Performance & Future Outlook - The stock's underperformance is attributed to not meeting investor expectations for sales and asset returns [13] - The company emphasizes improving its product offerings to drive future performance [13][14] - The company has a strong balance sheet [14] AI Impact - The company believes AI technologies will improve operational efficiency but not necessarily product quality [11][12]