株探米国株
日本語 英語
エドガーで原本を確認する
0001050797false00010507972025-07-312025-07-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 31, 2025
COLUMBIA SPORTSWEAR COMPANY
(Exact name of registrant as specified in its charter)
Oregon 000-23939 93-0498284
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
14375 Northwest Science Park Drive
Portland, Oregon 97229
(Address of principal executive offices) (Zip code)
(503) 985-4000
(Registrant’s telephone number, including area code)
No Change
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class   Trading Symbol(s)   Name of each
exchange on which registered
Common stock   COLM   Nasdaq Global Select Market
    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ☐
    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐




ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July 31, 2025, Columbia Sportswear Company (the "Company") issued a press release reporting its second quarter and first half 2025 financial results, providing full year and third quarter 2025 financial outlooks, and announcing a quarterly dividend. A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Attached hereto as Exhibit 99.2 and incorporated by reference herein is the CFO Commentary and Financial Review presentation by Jim A. Swanson, Executive Vice President and Chief Financial Officer of the Company, on the Company's second quarter 2025 financial results and its full year and third quarter 2025 financial outlooks, as posted on the Company's investor relations website, https://investor.columbia.com, on July 31, 2025. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.

ITEM 7.01 REGULATION FD DISCLOSURE
In its July 31, 2025 press release, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock to be paid on September 4, 2025 to its shareholders of record on August 21, 2025.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
 
Press Release, dated July 31, 2025 (furnished pursuant to Items 2.02 and 7.01 hereof).
CFO Commentary and Financial Review Presentation, dated July 31, 2025 (furnished pursuant to Items 2.02 and 7.01 hereof).
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
COLUMBIA SPORTSWEAR COMPANY
Dated: July 31, 2025
By: /S/ JIM A. SWANSON
Jim A. Swanson
Executive Vice President and Chief Financial Officer


EX-99.1 2 colmfy25q2exhibit991.htm EX-99.1 Document

Exhibit 99.1
logo3a91.jpg

Columbia Sportswear Company Reports Second Quarter 2025 Financial Results;
Provides Third Quarter 2025 and Limited Full Year 2025 Financial Outlook

Second Quarter 2025 Highlights
•Net sales increased 6 percent (6 percent constant-currency) to $605.2 million, compared to second quarter 2024.
•Operating loss decreased to $23.6 million, or 3.9 percent of net sales, compared to second quarter 2024 operating loss of $23.8 million, or 4.2 percent of net sales.
•Net loss per diluted share of $0.19, compared to second quarter 2024 net loss per diluted share of $0.20.
•Exited the quarter with $579.0 million of cash, cash equivalents and short-term investments and no borrowings.

Full Year 2025 Financial Outlook
The following forward-looking statements reflect our expectations as of July 31, 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.

Due to macroeconomic uncertainty stemming from global trade policies, the Company is providing a limited 2025 financial outlook.

•Net sales of $3.33 to $3.40 billion, representing a net sales decline of 1.0 percent to an increase of 1.0 percent compared to 2024.

PORTLAND, Ore. - July 31, 2025 - 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 second quarter 2025 financial results for the period ended June 30, 2025.

Chairman, President and Chief Executive Officer Tim Boyle commented, “Second quarter and first half financial results reflect sustained momentum in our international markets. While business trends in our U.S. business remain soft, we continue to take steps to re-energize the Columbia brand through our ACCELERATE growth strategy. In the coming days, we will launch one of the most impactful components of this strategy, our new highly differentiated Columbia brand voice and marketing campaign.

“The apparel and footwear industry is facing increasing tariffs, on top of already high existing duties. In this period of global trade policy uncertainty, we continue to take actions to mitigate the financial and operational impacts to our business. For the upcoming Fall 2025 season, our focus is delivering exceptional value to consumers, who are pressured by higher prices for many consumer goods, as well as keeping inventory and dealer margins healthy.

“Our fortress balance sheet, differentiated brand portfolio and disciplined approach to managing the business, give me confidence in our ability to emerge from this period as a stronger company. We are committed to investing in our strategic priorities to:
•accelerate profitable growth;
•create iconic products that are differentiated, functional and innovative;
1


•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 second quarter 2025 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.
Second Quarter 2025 Financial Results
(All comparisons are between second quarter 2025 and second quarter 2024, unless otherwise noted.)

Net sales increased 6 percent (6 percent constant-currency) to $605.2 million from $570.2 million for the comparable period in 2024. The increase primarily reflects changes in wholesale shipment timing which benefited sales in the quarter, and higher Spring 2025 wholesale orders, partially offset by lower direct-to-consumer ("DTC") net sales. Sales growth in most of our international markets was offset by underlying weakness in the U.S.

Gross margin expanded 120 basis points to 49.1 percent of net sales from 47.9 percent of net sales for the comparable period in 2024. Gross margin expansion reflected several factors including healthier overall inventory composition resulting in less clearance and promotional activity, as well as favorable product sales mix, partially offset by unfavorable channel and region sales mix.

SG&A expenses were $325.6 million, or 53.8 percent of net sales, compared to $302.7 million, or 53.1 percent of net sales, for the comparable period in 2024. The largest changes in SG&A expenses were higher DTC and demand creation expenses.

Operating loss decreased to $23.6 million, or 3.9 percent of net sales, compared to an operating loss of $23.8 million, or 4.2 percent of net sales, for the comparable period in 2024.

Interest income, net of $4.8 million, compared to $8.3 million for the comparable period in 2024.

Income tax benefit of $6.4 million resulted in an effective income tax rate of 38.5 percent, compared to income tax benefit of $3.2 million, or an effective income tax rate of 21.6 percent, for the comparable period in 2024.

Net loss of $10.2 million, or $0.19 per diluted share, compared to a net loss of $11.7 million, or $0.20 per diluted share, for the comparable period in 2024.


First Half 2025 Financial Results
(All comparisons are between first half 2025 and first half 2024, unless otherwise noted.)

Net sales increased 3 percent (4 percent constant-currency) to $1,383.7 million from $1,340.2 million for the comparable period in 2024.

Gross margin expanded 60 basis points to 50.1 percent of net sales from 49.5 percent of net sales for the comparable period in 2024.
2



SG&A expenses were $680.1 million, or 49.2 percent of net sales, compared to $652.0 million, or 48.6 percent of net sales, for the comparable period in 2024.

Operating income increased 10 percent to $22.9 million, or 1.7 percent of net sales, compared to operating income of $20.9 million, or 1.6 percent of net sales, for the comparable period in 2024.

Interest income, net of $11.7 million, compared to $17.5 million for the comparable period in 2024.

Income tax expense of $6.2 million resulted in an effective income tax rate of 16.3 percent, compared to income tax expense of $8.6 million, or an effective income tax rate of 22.0 percent, for the comparable period in 2024.

Net income increased 5 percent to $32.1 million, or $0.58 per diluted share, compared to net income of $30.6 million, or $0.51 per diluted share, for the comparable period in 2024.


Balance Sheet as of June 30, 2025

Cash, cash equivalents, and short-term investments totaled $579.0 million, compared to $711.1 million as of June 30, 2024.

The Company had no borrowings as of either June 30, 2025 or June 30, 2024.

Inventories increased 13 percent to $926.9 million, compared to $823.6 million as of June 30, 2024.

Cash Flow for the Six Months Ended June 30, 2025

Net cash used in operating activities was $62.9 million, compared to net cash provided by operating activities of $108.9 million for the same period in 2024.

Capital expenditures totaled $30.0 million, compared to $27.8 million for the same period in 2024.

Share Repurchases for the Six Months Ended June 30, 2025

The Company repurchased 1,677,784 shares of common stock for an aggregate of $131.7 million, or an average price per share of $78.49.

At June 30, 2025, $495.9 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 September 4, 2025 to shareholders of record on August 21, 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 Full Year and Third Quarter Financial Outlooks are forward-looking in nature, and the following forward-looking statements reflect our expectations as of July 31, 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. The Company's Full Year and Third Quarter 2025 Financial Outlooks reflect U.S. tariff rates in place on July 31, 2025.

•Net sales are expected to decrease 1 percent to increase 1 percent, resulting in net sales of $3.33 to $3.40 billion, compared to $3.37 billion in 2024.

3


Third Quarter 2025 Financial Outlook

•Net sales are expected to be $904 to $922 million, representing a decrease of 3 to 1 percent from $932 million for the comparable period in 2024.

•Operating margin is expected to be 7.6 to 9.0 percent, compared to operating margin of 12.1 percent in the comparable period in 2024.

•Diluted earnings per share are expected to be $1.00 to $1.20, compared to $1.56 for the comparable period in 2024.

Conference Call

The Company will hold its second quarter 2025 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 https://investor.columbia.com.
Third Quarter 2025 Reporting Date

The Company plans to report third quarter 2025 financial results on Thursday, October 30, 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, drive long-term market share gains and manage expenses, financial position, marketing strategies, timing and payment of dividends, and the Company’s expectations regarding its financial results for the third quarter of 2025 and the full year 2025. 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.
4


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 110 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.

Contact:
Andrew Burns, CFA
Vice President of Investor Relations and Strategic Planning
Columbia Sportswear Company
(503) 985-4112
investorrelations@columbia.com

- Financial tables follow -
5


COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

As of June 30,
(in thousands) 2025 2024
ASSETS
Current Assets:
Cash and cash equivalents $ 427,804  $ 341,822 
Short-term investments 151,223  369,276 
Accounts receivable, net 290,573  222,628 
Inventories 926,929  823,557 
Prepaid expenses and other current assets 97,500  90,527 
Total current assets 1,894,029  1,847,810 
Property, plant and equipment, net 283,221  277,509 
Operating lease right-of-use assets 432,833  360,721 
Intangible assets, net 79,221  79,221 
Goodwill 26,694  26,694 
Deferred income taxes 111,296  97,428 
Other non-current assets 63,083  71,438 
Total assets $ 2,890,377  $ 2,760,821 
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable $ 478,948  $ 267,853 
Accrued liabilities 201,670  201,700 
Operating lease liabilities 78,463  72,101 
Income taxes payable 2,201  2,787 
Total current liabilities 761,282  544,441 
Non-current operating lease liabilities 402,726  339,327 
Income taxes payable 14,050  13,615 
Deferred income taxes 340  64 
Other long-term liabilities 58,107  39,412 
Total liabilities 1,236,505  936,859 
Total shareholders' equity 1,653,872  1,823,962 
Total liabilities and shareholders' equity $ 2,890,377  $ 2,760,821 



6


COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Three Months Ended June 30,
Six Months Ended June 30,
(In thousands, except per share amounts)
2025 2024 2025 2024
Net sales $ 605,246  $ 570,244  $ 1,383,698  $ 1,340,226 
Cost of sales 308,138  296,825  690,533  677,248 
Gross profit 297,108  273,419  693,165  662,978 
Gross margin 49.1  % 47.9  % 50.1  % 49.5  %
Selling, general and administrative expenses 325,628  302,749  680,099  652,019 
Net licensing income 4,929  5,528  9,851  9,920 
Operating income (loss) (23,591) (23,802) 22,917  20,879 
Interest income, net 4,838  8,344  11,655  17,541 
Other non-operating income, net 2,164  476  3,715  747 
Income (loss) before income tax (16,589) (14,982) 38,287  39,167 
Income tax expense (benefit) (6,393) (3,241) 6,235  8,608 
Net income (loss) $ (10,196) $ (11,741) $ 32,052  $ 30,559 
Earnings (loss) per share:
Basic $ (0.19) $ (0.20) $ 0.58  $ 0.51 
Diluted $ (0.19) $ (0.20) $ 0.58  $ 0.51 
Weighted average shares outstanding:
Basic 54,777 59,093 55,253 59,458
Diluted 54,777 59,093 55,395 59,603

7


COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

Six Months Ended June 30,
(in thousands) 2025 2024
Cash flows from operating activities:
Net income $ 32,052  $ 30,559 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 27,931  29,142 
Non-cash lease expense 41,274  37,419 
Provision for uncollectible accounts receivable 1,786  1,502 
Deferred income taxes (340) 2,101 
Share-based compensation 11,799  12,008 
Other, net (2,200) (9,800)
Changes in operating assets and liabilities:
Accounts receivable 136,579  191,737 
Inventories (218,102) (88,753)
Prepaid expenses and other current assets (27,561) (2,809)
Other assets 2,546  1,159 
Accounts payable 88,004  31,105 
Accrued liabilities (89,215) (63,626)
Income taxes payable (28,489) (26,688)
Operating lease assets and liabilities (42,432) (37,275)
Other liabilities 3,482  1,112 
Net cash provided by (used in) operating activities (62,886) 108,893 
Cash flows from investing activities:
Purchases of short-term investments (261,449) (388,348)
Sales and maturities of short-term investments 402,067  446,087 
Capital expenditures (30,036) (27,788)
Net cash provided by investing activities 110,582  29,951 
Cash flows from financing activities:
Proceeds from issuance of common stock related to share-based compensation 5,111  3,747 
Tax payments related to share-based compensation (5,656) (4,461)
Repurchase of common stock (131,687) (102,618)
Cash dividends paid (33,030) (35,628)
Net cash used in financing activities (165,262) (138,960)
Net effect of exchange rate changes on cash 13,501  (8,381)
Net decrease in cash and cash equivalents (104,065) (8,497)
Cash and cash equivalents, beginning of period 531,869  350,319 
Cash and cash equivalents, end of period $ 427,804  $ 341,822 
Supplemental disclosures of cash flow information:
Cash paid during the year for income taxes $ 72,590  $ 58,151 
Supplemental disclosures of non-cash investing and financing activities:
Property, plant and equipment acquired through increase in liabilities $ 8,225  $ 6,283 
Repurchases of common stock not settled $ —  $ 8,114 

8


COLUMBIA SPORTSWEAR COMPANY
Reconciliation of GAAP to Non-GAAP Financial Measures
Net Sales Growth - Constant-currency Basis
(Unaudited)

Three Months Ended June 30,
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)
2025
Translation
2025(1)
2024
% Change
% Change(1)
Geographical net sales:
United States $ 335,117  $ —  $ 335,117  $ 340,228  (2)% (2)%
Latin America and Asia Pacific 112,333  (928) 111,405  99,484  13% 12%
Europe, Middle East and Africa 130,562  (2,010) 128,552  103,922  26% 24%
Canada 27,234  692  27,926  26,610  2% 5%
  Total $ 605,246  $ (2,246) $ 603,000  $ 570,244  6% 6%
Brand net sales:
Columbia $ 548,345  $ (2,202) $ 546,143  $ 508,613  8% 7%
SOREL 18,826  (5) 18,821  21,034  (10)% (11)%
prAna 20,537  20,540  21,796  (6)% (6)%
Mountain Hardwear 17,538  (42) 17,496  18,801  (7)% (7)%
  Total $ 605,246  $ (2,246) $ 603,000  $ 570,244  6% 6%
Product category net sales:
Apparel, accessories and equipment $ 494,302  $ (1,353) $ 492,949  $ 463,940  7% 6%
Footwear 110,944  (893) 110,051  106,304  4% 4%
  Total $ 605,246  $ (2,246) $ 603,000  $ 570,244  6% 6%
Channel net sales:
Wholesale $ 317,218  $ (1,015) $ 316,203  $ 278,384  14% 14%
DTC 288,028  (1,231) 286,797  291,860  (1)% (2)%
  Total $ 605,246  $ (2,246) $ 603,000  $ 570,244  6% 6%
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information.
9


COLUMBIA SPORTSWEAR COMPANY
Reconciliation of GAAP to Non-GAAP Financial Measures
Net Sales Growth - Constant-currency Basis
(Unaudited)

Six Months Ended June 30,
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)
2025 Translation
2025(1)
2024
% Change
% Change(1)
Geographical net sales:
United States $ 806,298  $ —  $ 806,298  $ 814,634  (1)% (1)%
Latin America and Asia Pacific 264,543  4,335  268,878  238,130  11% 13%
Europe, Middle East and Africa 238,042  2,428  240,470  208,442  14% 15%
Canada 74,815  4,282  79,097  79,020  (5)% —%
  Total $ 1,383,698  $ 11,045  $ 1,394,743  $ 1,340,226  3% 4%
Brand net sales:
Columbia $ 1,231,466  $ 10,268  $ 1,241,734  $ 1,172,578  5% 6%
SOREL 61,031  510  61,541  66,694  (8)% (8)%
prAna 48,651  11  48,662  53,094  (8)% (8)%
Mountain Hardwear 42,550  256  42,806  47,860  (11)% (11)%
  Total $ 1,383,698  $ 11,045  $ 1,394,743  $ 1,340,226  3% 4%
Product category net sales:
Apparel, accessories and equipment $ 1,123,122  $ 8,959  $ 1,132,081  $ 1,082,994  4% 5%
Footwear 260,576  2,086  262,662  257,232  1% 2%
  Total $ 1,383,698  $ 11,045  $ 1,394,743  $ 1,340,226  3% 4%
Channel net sales:
Wholesale $ 716,987  $ 5,406  $ 722,393  $ 669,281  7% 8%
DTC 666,711  5,639  672,350  670,945  (1)% —%
  Total $ 1,383,698  $ 11,045  $ 1,394,743  $ 1,340,226  3% 4%
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information.

10
EX-99.2 3 ex992cfocommentaryq22025.htm EX-99.2 ex992cfocommentaryq22025
CFO COMMENTARY AND FINANCIAL REVIEW SECOND QUARTER 2025 JULY 31, 2025 Exhibit 99.2


 




DTC DTC.com DTC B&M y/y U.S. LAAP EMEA SG&A EPS bps direct-to-consumer DTC e-commerce DTC brick & mortar year-over-year United States Latin America and Asia Pacific Europe, Middle East and Africa selling, general & administrative earnings per share basis points “+” or “up” “-” or “down” LSD% MSD% HSD% LDD% low-20% mid-30% high-40% increased decreased low-single-digit percent mid-single-digit percent high-single-digit percent low-double-digit percent low-twenties percent mid-thirties percent high-forties percent “$##M” “$##B” c.c. M&A FX ~ H# Q# YTD in millions of U.S. dollars in billions of U.S. dollars constant-currency mergers & acquisitions foreign currency exchange approximately First half, second half Quarter 1, 2, 3, 4 Year-to-date


 
W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S


 




• • • • •


 
• • • • (dollars in millions, except per share amounts) Q2'25 Q2'24 Change Net Sales $605.2 $570.2 +6% Gross margin 49.1% 47.9% +120 bps SG&A percent of net sales 53.8% 53.1% +70 bps Operating loss ($23.6) ($23.8) +1% Operating margin -3.9% -4.2% +30 bps Net loss ($10.2) ($11.7) +13% Diluted EPS ($0.19) ($0.20) +5%


 
• • • • • • • • • • •


 
• • • • •


 
• • •


 
• • •


 








• • • • • • •


 




▪ ▪ ▪ ▪