Columbia Sportswear sales drop 5% in Q3

Columbia Sportswear announced on Wednesday sales decreased 5 percent to $931.8 million in the third quarter. 

The Portland, Oregon-based company said the decline in quarterly sales reflected lower Fall ’24 wholesale orders, as well as weak consumer demand in the U.S. partially attributable to warm weather and outdoor category headwinds.

Net income was $90.2 million, or $1.56 per diluted share, compared to net income of $103.5 million, or $1.70 per diluted share, for the comparable period in 2023.

For the first nine months of the year, net sales decreased 6 percent to $2.27 billion from $2.43 billion. 

“Third quarter results reflect ongoing strength in most international markets, offset by continued softness in North America. While warm weather has curbed early season demand for Fall 2024 cold weather product, I’m excited about the differentiated innovations we are offering consumers, including Omni-Heat Infinity and Omni-Heat Arctic, as well as the lightweight comfort provided by our Omni-Max footwear platform,” said chairman, president and chief executive officer Tim Boyle.

“In recent months, the Columbia brand embarked on ‘Accelerate’, a growth strategy intended to elevate the brand and attract younger and more active consumers. This multi-year strategy will be centered around several consumer-centric shifts across our brand, product and marketplace strategies. I’m confident the ‘Accelerate’ growth strategy will enable brand-right profitable growth and I’m eager to see it come to life in the seasons ahead.”

Looking ahead, the owner of Columbia, PrAna, and Sorel brands, lowered its full-year guidance. It now expects net sales to decrease 5 to 3 percent, resulting in net sales of $3.31 to $3.38 billion, compared to $3.49 billion in 2023.