Columbia Sportswear posts Q4 sales drop

American brand Columbia Sportswear has announced net sales increased 1 per cent to US US $ 3.49 billion in 2023, compared to 2022, despite a challenging fourth quarter.

The Portland, Oregon-based company said net sales for the fourth quarter ended 31st December 2023 and  decreased 9 per cent to US $ 1.06 billion from US $ 1.17 billion for the comparable period in 2022.  The decline in net sales primarily reflected the earlier shipment of Fall 2023 wholesale orders in the third quarter of 2023, compared to the late shipment of Fall 2022 wholesale orders in the fourth quarter of 2022, as well as lower US DTC net sales.

By brand, Columbia sales dropped 7 per cent to US $ 891 million, with Sorel down 18 per cent to US $ 116 million. Smaller brands PraNa and Mountain Hardwear fell 29 per cent and 11 per cent, respectively. Net income decreased by 26 per cent to US $ 93.3 million in the quarter.

“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 US $ 600 million for the year,” said chairman, president and chief executive officer Tim Boyle.