Columbia Sportswear reports Q4 EPS $1.55, consensus $1.95

Reports Q4 revenue $1.06B, consensus $1.08B. CEO Tim Boyle commented, “I’m proud of what our global workforce was able to achieve in 2023. We successfully executed our inventory reduction plan, which contributed to operating cash flow generation of over $600 million for the year. The Columbia brand generated healthy growth outside of the U.S., led by China and Europe-direct markets. In the U.S., we navigated a difficult U.S. marketplace and a warm winter, both of which impacted our fourth quarter performance. Looking ahead, we expect 2024 to be a challenging year. Retailers are placing orders cautiously, and economic and geopolitical uncertainty remains high. We are working diligently to maximize sales in this environment, while optimizing our product, brand marketing and marketplace strategies to accelerate growth in 2025 and beyond. To mitigate erosion in profitability and to improve the efficiency of our operations, we are implementing a multi-year profit improvement program targeting $125 to $150 million in annual savings by 2026.”