Columbia Sportswear Company · NASDAQ:COLM
Columbia Sportswear — Q1 2025 Earnings Presentation
20 slides from Columbia Sportswear's earnings presentation, May 1, 2025
Slide 1: CFO Commentary and Financial Review First Quarter 2025
Sportswear CFO Commentary and Financial Review First Quarter 2025 May 1, 2025 Exhibit 99.2
Slide 2: Forward-Looking Statements
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 Co
Slide 3: Abbreviations and definitions
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% HS
Slide 4: We Connect Active People with Their Passions
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
Slide 5: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES Our goal is to maintain our strong balance sheet and disciplined approach to capital allocation. Dependent upon our financial position, market conditions and our strategic priorities, our capital allocation approach includes: INVEST INORGANIC GROWTH OPPORTUNITIES TO DRI
Slide 6: Q1'25 Financial Results Compared to Q1'24
Q1'25 FINANCIAL RESULTS COMPARED TO Q1'24 $778M 6.0% +1% +20 bps Net Sales Gross Margin Operating Margin Diluted EPS Q1’25 Highlights: + Net sales growth primarily reflects increased wholesale net sales, driven by higher Spring '25 orders. DTC was flat y/y. * The increase in net sales was driven by
Slide 7: Q1'25 vs Q1'24 summary financial table
• • • (dollars in millions, except per share amounts) Q1'25 Q1'24 Change Net Sales $778.5 $770.0 +1% Gross margin 50.9% 50.6% +30 bps SG&A percent of net sales 45.5% 45.4% +10 bps Operating income $46.5 $44.7 +4% Operating margin 6.0% 5.8% +20 bps Net income $42.2 $42.3 -0% Diluted EPS $0.75 $0.71 +
Slide 8: Q1'25 Net Sales and Growth vs. Q1'24
Q1'25 NET SALES AND GROWITH VS. Q1'24 -9% (-2% c.c.) -1% (-1% c.c.) $471M +3% (+7% c.c.) $107M +10% (+14% c.c.) $152M Commentary below is based on constant currency performance. + Wholesale: relatively flat. Spring '25 wholesale shipments increased slightly. + DTC: down LSD% (DTC B&M up LSD%, DC.com
Slide 9: Q1'25 Net Sales Overview
Q1’25 NET SALES OVERVIEW : Q1'25 NET SALES AND GROWTH VS. Q1'24 CATEGORY BRAND CHANNEL PERFORMANCE PERFORMANCE PERFORMANCE APPAREL, ACCESSORIES . & EQUIPMENT: Columbia is WHOLESALE: P 42% H3%cc) PH +3% U5%c0) -8% -6% 0) 42% (4% cc) $629M $683M $42M $400M Le vibes FOOTWEAR: prAna WEAR "39 DTc: y -1%
Slide 10: Gross margin tailwinds and headwinds
Tailwinds • Channel Profitability: largely reflecting lower outbound shipping expenses, higher closeout margins and favorable Spring ’25 product input costs Headwinds • FX: unfavorable effects from FX hedge rates
Slide 11: Q1'25 SG&A Bridge vs Last Year
Q1'25 SG&A BRIDGE VS LAST YEAR SG&A increased $5.2 million, or 1% iz $349.3 M Primary SG&A Expense Increases + Omni-Channel: higher brick & mortar expenses related to new stores * Demand Creation: represented 6.4% of sales vs. 5.9% in Q1'24 Primi In: * Supply Chain: lower expenses resulting from sup
Slide 12: Balance Sheet Overview
BALANGESHEET OVERVIEW Balance Sheet as of Marchi31,2025 Cash, Cash Equivalents, and Short-term Investments Inventory Cash, cash equivalents and short-term investments totaled $658.4M, compared to $787.7M as of March 31, 2024. Inventories +3% y/y to $623.7M. Older season inventories represent a manag
Slide 13: Capital Overview
CAPITAL | OVERVIEW Q1'25 Net Cash Flow Provided by (Used in) Operations S 3 2 M Net cash flow used in operating activities was $32.0M, = compared to net cash flow provided by operating activities of $106.8M for the same period in 2024. «Be ‘ " ~ Q1'25 Capital Expenditures S 1 6M Capital expenditures
Slide 14: 2025 Financial Outlook Withdrawn
2025 FINANCIAL OUTLOOK WITHDRAWN The Company's Q2’25 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of May 1, 2025 and are subject to significant risks and business uncertainties, including those factors described under “Forwa
Slide 15: ACCELERATE growth strategy
ACCELERATE is a consumer-centric growth strategy intended to elevate the Columbia brand to attract younger and more active consumers. It is a multi-year initiative centered around several consumer-centric shifts to our brand, ~ product and marketplace strategies, as well as enhanced ways of working.
Slide 16: 2025+ Profit Improvement
2025+ PROFITAMPROVEMENT In 2024, the Company launched a 3-year Profit Improvement Plan designed to achieve $125 to $150 million — in annual cost savings by 2026. In 2024, as part of this plan, the Company realized approximately $90 million in cost savings, which effectively reduced the Company’s rat
Slide 17: Appendix
Slide 18: Constant-currency net sales non-GAAP note
(1) Constant-currency net sales is a non-GAAP financial measure. See “References to Non-GAAP Financial Information” above for further information.
Slide 19: Three Months Free Cash Flow Reconciliation
THREE MONTHS FREE CASH FLOW RECONCILIATION COLUMBIA SPORTSWEAR COMPANY Reconciliation of GAAP to Non-GAAP Financial Measures Net cash provided by (used in) operating activities to free cash flow (Unaudited) ‘Three Months Ended March 31, (in thousands) 2025 2024 ‘Net cash provided by (used in) operat
Slide 20: Colu
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