Columbia Sportswear Company · NASDAQ:COLM
Columbia Sportswear — Q2 2026 Earnings Presentation
21 slides from Columbia Sportswear's earnings presentation, Jul 30, 2026
Slide 1: CFO Commentary and Financial Review Second Quarter 2026
AGENDA CFO COMMENTARY AND FINANCIAL REVIEW SECOND QUARTER 2026 July 30, 2026 Exhibit 99.2
Slide 2: 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
Slide 3: References to non-GAAP financial information
Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in U.S. 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 U.S. dollar. To supp
Slide 4: Accelerate Profitable Growth
ACCELERATE PROFITABLE GROWTH CREATE ICONIC PRODUCTS Differentiated, Functional, Innovative DRIVE BRAND ENGAGEMENT Increased, Focused Demand Creation Investments ENHANCE CONSUMER EXPERIENCES Invest in Capabilities to Delight and Retain Consumers AMPLIFY MARKETPLACE EXCELLENCE Digitally-Led, Omni-Chan
Slide 5: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES DEPENDENT UPON OUR FINANCIAL POSITION, MARKET CONDITIONS AND OUR STRATEGIC PRIORITIES, OUR CAPITAL ALLOCATION APPROACH INCLUDES: INVEST IN ORGANIC GROWTH OPPORTUNITIES RETURN AT LEAST 40% OF FREE CASH FLOW TO SHAREHOLDERS OPPORTUNISTIC M&A TO DRIVE LONG-TERM PROFITABLE
Slide 6: Q2'26 Financial Overview
Q2’26 FINANCIAL OVERVIEW Q2’26 FINANCIAL RESULTS COMPARED TO Q2’25 Q2’26 Highlights: • Net sales reflected growth in most of our international markets, partially offset by continued softness in the U.S. • Compared to guidance, net sales upside was driven by better-than-expected wholesale net sales f
Slide 7: Q2'26 Actual vs Last Year
Q2’26 ACTUAL VS LAST YEAR Commentary on Q2’26 financial results vs last year: • Net sales reflected growth in most of our international markets, partially offset by lower U.S. net sales, primarily reflecting lower Spring ‘26 wholesale orders and, to a lesser extent, declines in our DTC B&M business.
Slide 8: Q2'26 Regional Net Sales Performance
Q2’26 REGIONAL NET SALES PERFORMANCE Commentary below is based on constant currency-performance. U.S. • Wholesale: down HSD%, primarily reflecting the impact of lower Spring ‘26 orders • DTC: down slightly (DTC B&M down LSD%, DTC.com up LSD%), including the impact of store closures and softer traffi
Slide 9: Q2'26 Net Sales Overview
Q2’26 NET SALES OVERVIEW Q2’26 NET SALES VS. Q2’25 CATEGORY PERFORMANCE CHANNEL PERFORMANCE WHOLESALE: DTC: +3% (+3% c.c.) $318M $296M 0% (0% c.c.) • Columbia brand footwear growth was partially offset by a decline in SOREL • Columbia reflected growth in most of our international markets, partially
Slide 10: Q2'26 Gross Margin Bridge
Q2’26 GROSS MARGIN BRIDGE TAILWINDS • Tariff Refund: reflecting an approximate 980 basis point benefit from the recovery of IEEPA tariffs HEADWINDS • Channel Profitability: reflecting increased promotional activity within DTC B&M Q2’26 GROSS MARGIN EXPANDED 920 BPS Y/Y TO 58.3%
Slide 11: Q2'26 SG&A Bridge vs Last Year
Q2’26 SG&A BRIDGE VS LAST YEAR * Excludes Retail; ** Excludes Advertising Q2’26 SG&A INCREASED $6.6 MILLION, OR 2% Q2’26 SG&A WAS 54.1% OF NET SALES COMPARED TO 53.8% IN Q2’25 PRIMARY SG&A EXPENSE INCREASES • Omni-Channel: reflecting higher DTC B&M expenses related to store impairment charges as wel
Slide 12: Balance Sheet Overview
BALANCE SHEET OVERVIEW Cash, cash equivalents and short-term investments totaled $624.6M, compared to $579.0M as of June 30, 2025. $625M -6% BALANCE SHEET AS OF JUNE 30, 2026 INVENTORY CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS Inventories -6% y/y to $874.8M. Older season inventories represe
Slide 13: Capital Overview
CAPITAL OVERVIEW $37M Net cash flow provided by operating activities was $37.5M, compared to net cash flow used in operating activities of $62.9M for the same period in 2025. Capital expenditures totaled $25.8M, compared to $30.0M for the same period in 2025. $150M In first quarter 2026, the Company
Slide 14: 2026 Financial Outlooks
2026 FINANCIAL OUTLOOKS The Company's 2026 Financial Outlooks are forward-looking in nature, and the following forward-looking statements reflect our expectations as of July 30, 2026 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Loo
Slide 15: 2026 Financial Outlook Assumptions
2026 FINANCIAL OUTLOOK ASSUMPTIONS Net sales Anticipated net sales growth primarily reflects: • Growth from all brands • International growth led by Europe Direct, China and International Distributors, partially offset by a modest decline in the U.S. • Growth in DTC and wholesale - DTC growing faste
Slide 16: ACCELERATE Growth Strategy
ACCELERATE GROWTH STRATEGY M A R K E T P L AC ECreate elevated omni-channel brand experiences Maintain outlet and value-oriented wholesale distribution Activate brand and product strategies by elevating the position of the Columbia brand in the U.S. marketplace P R O D U C TEmphasize innovation and
Slide 17: Columbia Brand Strategic Pillars
COLUMBIA BRAND STRATEGIC PILLARS 0 50 40 3 OWN THE TRAIL 0 1 DOMINATE WARM 0 2 POWER PFG 0 3 0 4 FUEL OUTDOOR LIFESTYLE ACCELERATE FOOTWEAR 0 5 As the ACCELERATE Growth Strategy evolves, the Columbia brand is sharpening its focus on 5 strategic pillars. These pillars are nested in the original shift
Slide 18: Appendix
A P P E N D I X
Slide 19: Q2'26 Constant-Currency Reconciliation
Q2’26 CONSTANT-CURRENCY RECONCILIATION
Slide 20: Six Months Free Cash Flow Reconciliation
SIX MONTHS FREE CASH FLOW RECONCILIATION
Slide 21: Slide 21