# EDGAR Filing Document

**Accession Number:** 0001050797
**File Stem:** 0001050797-25-000157
**Filing Date:** 2025-10
**Character Count:** 59485
**Document Hash:** d485d36b7c0b5983a0bc1820f800a929
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001050797-25-000157.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001050797-25-000157

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20251030

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLUMBIA SPORTSWEAR CO
- **CENTRAL INDEX KEY:** 0001050797
- **STANDARD INDUSTRIAL CLASSIFICATION:** APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 930498284
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-23939
- **FILM NUMBER:** 251435479

**BUSINESS ADDRESS:**
- **STREET 1:** 14375 NW SCIENCE PARK DRIVE
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97229
- **BUSINESS PHONE:** 503 985 4000

**MAIL ADDRESS:**
- **STREET 1:** 14375 NW SCIENCE PARK DRIVE
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97229

?xml version='1.0' encoding='ASCII'? colm-20251030

**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):** 

**October 30, 2025**

**COLUMBIA SPORTSWEAR COMPANY** 

**(Exact name of registrant as specified in its charter)** 

---

| | | |
|:---|:---|:---|
| **Oregon** | **000-23939** | **93-0498284** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer <br>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<br>exchange on which registered** |
| Common stock | COLM | Nasdaq Global Select Market |

---

&nbsp;&nbsp;&nbsp;&nbsp;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&nbsp;&nbsp;&nbsp;&nbsp;☐

&nbsp;&nbsp;&nbsp;&nbsp;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.&nbsp;&nbsp;&nbsp;&nbsp;☐

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**ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION** 

On October 30, 2025, Columbia Sportswear Company (the "Company") issued a press release reporting its third quarter and first nine months 2025 financial results, updating its full year 2025 financial outlook, providing preliminary first half 2026 commentary, 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 third quarter 2025 financial results, as well as its full year 2025 financial outlook and preliminary first half 2026 commentary, as posted on the Company's investor relations website, <u>https://investor.columbia.com</u>, on October 30, 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 October 30, 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 December 4, 2025 to its shareholders of record on November 20, 2025.

**ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS** 

(d) Exhibits

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| | |
|:---|:---|
| <u>[99.1](colmfy25q3exhibit991.htm)</u> | Press Release, dated October 30, 2025 (furnished pursuant to Items 2.02 and 7.01 hereof). |
| <u>[99.2](cfocommentaryq32025vf.htm)</u> | CFO Commentary and Financial Review Presentation, dated October 30, 2025 (furnished pursuant to Items 2.02 and 7.01 hereof). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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**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** | **COLUMBIA SPORTSWEAR COMPANY** |
| Dated: October 30, 2025 | By: | /S/ JIM A. SWANSON |
|  |  | Jim A. Swanson |
|  |  | Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

Exhibit 99.1

![logo3a91.jpg](logo3a91.jpg)

**Columbia Sportswear Company Reports Third Quarter 2025 Financial Results;** 

**Updates Full Year 2025 Financial Outlook**

**<u>Third Quarter 2025 Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net sales increased 1 percent (flat on a constant-currency basis) to $943.4 million, compared to third quarter 2024.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•* Operating income decreased 40 percent to $67.4 million, or 7.1 percent of net sales, compared to third quarter 2024 operating income of $112.5 million, or 12.1 percent of net sales. Third quarter 2025 operating income includes $29.0 million of impairment charges related to prAna and Mountain Hardwear.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•* Diluted earnings per share of $0.95, compared to third quarter 2024 diluted earnings per share of $1.56. The impairment charges referred to above negatively impacted diluted earnings per share by $0.46.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Exited the quarter with $236.0 million of cash, cash equivalents and short-term investments and no borrowings.** 

**<u>Full Year 2025 Financial Outlook</u>**

*The following forward-looking statements reflect our expectations as of October 30, 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.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•* Net sales of $3.33 to $3.37 billion, representing a net sales decline of 1.0 percent to flat compared to 2024.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Operating income of $163 to $185 million, representing operating margin of 4.9 to 5.5 percent, including $29.0 million in impairment charges related to prAna and Mountain Hardwear.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Diluted earnings per share of $2.55 to $2.85, including a $0.46 negative impact from the impairment charges referred to above.** 

**PORTLAND, Ore.** - October 30, 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 third quarter 2025 financial results for the period ended September 30, 2025.

Chairman, President and Chief Executive Officer Tim Boyle commented, "Third quarter results reflect sustained momentum in our international business, led by double-digit percent sales growth in our Europe-direct markets. This strong international performance underscores the Columbia brand's ability to connect with younger and more active consumers, a key tenet of our ACCELERATE Growth Strategy.

"In the U.S., we are focused on revitalizing the Columbia brand through our ACCELERATE Growth Strategy. The launch of our new brand platform, 'Engineered for Whatever', was a major milestone—celebrating the extremes of outdoor adventure and rekindling the brand's irreverent spirit from the '80s and '90s. The early response has been overwhelmingly positive, and we intend to build upon that momentum with a robust pipeline of differentiated activations and other media investments during the important holiday sales period ahead.

"I'm confident we have the right strategy in place to unlock significant long-term growth opportunities. We remain committed to investing in our strategic priorities to:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accelerate profitable growth;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• create iconic products that are differentiated, functional and innovative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• drive brand engagement through increased, focused demand creation investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• enhance consumer experiences by investing in capabilities to delight and retain consumers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• amplify marketplace excellence, with digitally-led, omni-channel, global distribution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• empower talent that is driven by our core values, through a diverse and inclusive workforce."

**<u>CFO's Commentary and Financial Review Presentation Available Online</u>**

For a detailed review of the Company's third 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 <u>http://investor.columbia.com/financial-results</u> at approximately 4:15 p.m. ET today. Analysts and investors are encouraged to review this commentary prior to participating in our conference call.

**<u>ACCELERATE Growth Strategy</u>**

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.

**<u>Third Quarter 2025 Financial Results</u>**

(All comparisons are between third quarter 2025 and third quarter 2024, unless otherwise noted.)

**Net sales** increased 1 percent (flat on a constant-currency basis) to $943.4 million from $931.8 million for the comparable period in 2024. The increase primarily reflected changes in wholesale shipment timing, which benefitted sales in the quarter by approximately $30 million, partially offset by lower direct-to-consumer ("DTC") net sales. Sales growth in most of our international markets was partially offset by underlying weakness in the U.S.

**Gross margin** contracted 20 basis points to 50.0 percent of net sales from 50.2 percent of net sales for the comparable period in 2024. Gross margin contraction reflected the impact of incremental tariffs and unfavorable foreign exchange rates, which more than offset higher channel profitability from lower clearance and promotional activity.

**SG&A expenses** were $380.9 million, or 40.4 percent of net sales, compared to $361.2 million, or 38.8 percent of net sales, for the comparable period in 2024. The largest changes in SG&A expenses were driven by higher demand creation and omni-channel expenses.

**Impairment of goodwill and intangible assets** included $29.0 million of charges related to prAna and Mountain Hardwear.

**Operating income** decreased 40 percent to $67.4 million, or 7.1 percent of net sales, compared to operating income of $112.5 million, or 12.1 percent of net sales, for the comparable period in 2024.

**Interest income, net** of $2.9 million, compared to $5.4 million for the comparable period in 2024.

**Income tax expense** of $19.0 million resulted in an effective income tax rate of 26.7 percent, compared to income tax expense of $29.0 million, or an effective income tax rate of 24.4 percent, for the comparable period in 2024.

**Net income** was $52.0 million, or $0.95 per diluted share, compared to net income of $90.2 million, or $1.56 per diluted share, for the comparable period in 2024. The impairment charges related to prAna and Mountain Hardwear in third quarter 2025 negatively impacted diluted earnings per share by $0.46.

**<u>First Nine Months 2025 Financial Results</u>**

(All comparisons are between first nine months 2025 and first nine months 2024, unless otherwise noted.)

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**Net sales** increased 2 percent (3 percent constant-currency) to $2,327.1 million from $2,272.0 million for the comparable period in 2024.

**Gross margin** expanded 30 basis points to 50.1 percent of net sales from 49.8 percent of net sales for the comparable period in 2024.

**SG&A expenses** were $1,061.0 million, or 45.6 percent of net sales, compared to $1,013.3 million, or 44.6 percent of net sales, for the comparable period in 2024.

**Impairment of goodwill and intangible assets** included $29.0 million of charges related to prAna and Mountain Hardwear.

**Operating income** decreased 32 percent to $90.3 million, or 3.9 percent of net sales, compared to operating income of $133.4 million, or 5.9 percent of net sales, for the comparable period in 2024.

**Interest income, net** of $14.5 million, compared to $22.9 million for the comparable period in 2024.

**Income tax expense** of $25.2 million resulted in an effective income tax rate of 23.1 percent, compared to income tax expense of $37.6 million, or an effective income tax rate of 23.8 percent, for the comparable period in 2024.

**Net income** decreased 30 percent to $84.1 million, or $1.53 per diluted share, compared to net income of $120.7 million, or $2.04 per diluted share, for the comparable period in 2024.

**<u>Balance Sheet as of September 30, 2025</u>**

Cash, cash equivalents, and short-term investments totaled $236.0 million, compared to $373.9 million as of September 30, 2024.

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

Inventories of $800.4 million compared to $798.2 million as of September 30, 2024.

**<u>Cash Flow for the Nine Months Ended September 30, 2025</u>**

Net cash used in operating activities was $333.4 million, compared to $76.6 million for the same period in 2024.

Capital expenditures totaled $46.6 million, compared to $41.7 million for the same period in 2024.

**<u>Share Repurchases for the Nine Months Ended September 30, 2025</u>**

The Company repurchased 2,400,131 shares of common stock for an aggregate of $171.7 million, or an average price per share of $71.53.

At September 30, 2025, $455.9 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.

**<u>Quarterly Cash Dividend</u>**

The Board of Directors approved a regular quarterly cash dividend of $0.30 per share, payable on December 4, 2025 to shareholders of record on November 20, 2025.

**<u>Full Year 2025 Financial Outlook</u>**

*(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)*

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The Company's 2025 Full Year and Fourth Quarter Financial Outlooks, as well as first half 2026 commentary, are forward-looking in nature, and the following forward-looking statements reflect our expectations as of October 30, 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 Fourth Quarter 2025 Financial Outlooks, as well as first half 2026 commentary, reflect U.S. tariff rates in place on October 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net sales** of $3.33 to $3.37 billion, representing a net sales decline of 1.0 percent to flat compared to $3.37 billion in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Gross margin** of 50.0 to 50.2 percent, representing contraction of 20 basis points to flat, compared to 50.2 percent in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Operating income** of $163 to $185 million, representing operating margin of 4.9 to 5.5 percent, compared to 8.0 percent in 2024. Operating income includes $29.0 million in impairment charges related to prAna and Mountain Hardwear, as well as $35 to $40 million of incremental tariffs prior to mitigation actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Diluted earnings per share** of $2.55 to $2.85, including a $0.46 negative impact from impairment charges related to prAna and Mountain Hardwear, compared to $3.82 in 2024.

**<u>Fourth Quarter 2025 Financial Outlook</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Net sales** of $1,008 to $1,041 million, representing a decrease of 8 to 5 percent from $1,097 million for the comparable period in 2024. Net sales guidance includes a $30 to $40 million impact of a higher proportion of Fall 2025 shipments occurring in third quarter 2025 in comparison to third quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Operating margin** is expected to be 7.2 to 9.1 percent, compared to operating margin of 12.5 percent in the comparable period in 2024. Operating income includes $20 to $25 million of incremental tariffs prior to mitigation actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Diluted earnings per share** are expected to be $1.04 to $1.34, compared to $1.80 for the comparable period in 2024.

**<u>Preliminary First Half 2026 Commentary</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Wholesale net sales** is expected to be flat to up low-single-digit percent, contemplating sustained international growth across direct and distributor markets, partially offset by a decline in the U.S.

**<u>Conference Call</u>**

The Company will hold its third 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 <u>https://investor.columbia.com</u>.

**<u>Fourth Quarter 2025 Reporting Date</u>**

The Company plans to report fourth quarter 2025 financial results on Tuesday, February 3, 2026 at approximately 4:05 p.m. ET.

**<u>Supplemental Financial Information</u>**

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

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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.

**<u>Forward-Looking Statements</u>**

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 fourth quarter of 2025 and the full year 2025. Forward-looking statements often use words such as "will," "anticipate," "estimate," "expect," "should," "may," "plan", "intend", 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. 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.

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**<u>About Columbia Sportswear Company</u>**

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 <u>www.columbia.com</u>, <u>www.mountainhardwear.com</u>, <u>www.sorel.com</u>, and <u>www.prana.com</u>.

**Contact:** 

Andrew Burns, CFA

Vice President of Investor Relations and Strategic Planning

Columbia Sportswear Company

(503) 985-4112

<u>investorrelations@columbia.com</u>

- Financial tables follow -

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**COLUMBIA SPORTSWEAR COMPANY**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

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| | | |
|:---|:---|:---|
| | **As of September 30,** | **As of September 30,** |
|<br>*(in thousands)* | **2025** | **2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $228832 | $306680 |
| &nbsp;&nbsp;&nbsp;Short-term investments | 7195 | 67244 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 610458 | 581738 |
| &nbsp;&nbsp;&nbsp;Inventories | 800350 | 798153 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 99494 | 72443 |
| Total current assets | 1746329 | 1826258 |
| Property, plant and equipment, net | 282394 | 284963 |
| Operating lease right-of-use assets | 429562 | 370844 |
| Intangible assets, net | 71221 | 79221 |
| Goodwill | 5694 | 26694 |
| Deferred income taxes | 112634 | 103757 |
| Other non-current assets | 64713 | 69003 |
| Total assets | $2712547 | $2760740 |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $244365 | $221714 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 260487 | 266161 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | 82693 | 72968 |
| &nbsp;&nbsp;&nbsp;Income taxes payable | 5131 | 6097 |
| Total current liabilities | 592676 | 566940 |
| Non-current operating lease liabilities | 397618 | 348786 |
| Income taxes payable | 14399 | 14607 |
| Deferred income taxes | 335 | 67 |
| Other long-term liabilities | 51588 | 42868 |
| Total liabilities | 1056616 | 973268 |
| Total shareholders' equity | 1655931 | 1787472 |
| Total liabilities and shareholders' equity | $2712547 | $2760740 |

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**COLUMBIA SPORTSWEAR COMPANY**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|<br>*(In thousands, except per share amounts)* | **2025** | **2024** | **2025** | **2024** |
| Net sales | $943425 | $931768 | $2327123 | $2271994 |
| Cost of sales | 471607 | 464209 | 1162140 | 1141457 |
| Gross profit | 471818 | 467559 | 1164983 | 1130537 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross margin | 50.0% | 50.2% | 50.1% | 49.8% |
| Selling, general and administrative expenses | 380892 | 361243 | 1060991 | 1013262 |
| Impairment of goodwill and intangible assets | 29000 |  | 29000 |  |
| Net licensing income | 5460 | 6225 | 15311 | 16145 |
| Operating income | 67386 | 112541 | 90303 | 133420 |
| Interest income, net | 2870 | 5364 | 14525 | 22905 |
| Other non-operating income, net | 732 | 1283 | 4447 | 2030 |
| Income before income tax | 70988 | 119188 | 109275 | 158355 |
| Income tax expense | 18983 | 29031 | 25218 | 37639 |
| Net income | $52005 | $90157 | $84057 | $120716 |
| Earnings per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.95 | $1.56 | $1.53 | $2.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.95 | $1.56 | $1.53 | $2.04 |
| Weighted average shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 54540 | 57785 | 55013 | 58896 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 54558 | 57936 | 55114 | 59043 |

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**COLUMBIA SPORTSWEAR COMPANY**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** 

**(Unaudited)**

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| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|<br>*(in thousands)* | **2025** | **2024** |
| **Cash flows from operating activities:** |  |  |
| Net income | $84057 | $120716 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 42147 | 42187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 62989 | 56903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for uncollectible accounts receivable | 1775 | 3183 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (3779) | 2180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation | 18060 | 18478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on impairment of goodwill and intangible assets | 29000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | (2463) | (11278) |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (184166) | (162252) |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | (94237) | (50336) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (27883) | 5008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | (441) | (195) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (146916) | (17044) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | (28433) | (7823) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | (25302) | (22439) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease assets and liabilities | (61754) | (56557) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 3903 | 2661 |
| Net cash used in operating activities | (333443) | (76608) |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of short-term investments | (261449) | (388348) |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and maturities of short-term investments | 547181 | 751232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (46648) | (41736) |
| Net cash provided by investing activities | 239084 | 321148 |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock related to share-based compensation | 5264 | 3955 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax payments related to share-based compensation | (5964) | (4806) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of common stock | (171687) | (230864) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash dividends paid | (49461) | (52860) |
| Net cash used in financing activities | (221848) | (284575) |
| **Net effect of exchange rate changes on cash** | 13170 | (3604) |
| **Net decrease in cash and cash equivalents** | (303037) | (43639) |
| **Cash and cash equivalents, beginning of period** | 531869 | 350319 |
| **Cash and cash equivalents, end of period** | $228832 | $306680 |
| **Supplemental disclosures of cash flow information:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid during the year for income taxes | $78338 | $63650 |
| **Supplemental disclosures of non-cash investing and financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment acquired through increase in liabilities | $10323 | $12224 |

---

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**COLUMBIA SPORTSWEAR COMPANY**

**Reconciliation of GAAP to Non-GAAP Financial Measures**

**Net Sales Growth - Constant-currency Basis**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
|<br>*(In thousands, except percentage changes)* | **Reported** <br>**Net Sales**<br>**2025** | **Adjust for Foreign Currency**<br>**Translation** | **Constant-currency**<br>**Net Sales**<br>**2025**<sup>(1)</sup> | **Reported** <br>**Net Sales**<br>**2024** | **Reported** <br>**Net Sales**<br>**% Change** | **Constant-currency**<br>**Net Sales**<br>**% Change**<sup>(1)</sup> |
| **Geographical net sales:** |  |  |  |  |  |  |
| United States | $546690 | $— | $546690 | $571306 | (4)% | (4)% |
| Latin America and Asia Pacific | 143358 | (837) | 142521 | 134985 | 6% | 6% |
| Europe, Middle East and Africa | 164461 | (9080) | 155381 | 141785 | 16% | 10% |
| Canada | 88916 | 606 | 89522 | 83692 | 6% | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $943425 | $(9311) | $934114 | $931768 | 1% | —% |
| **Brand net sales:** |  |  |  |  |  |  |
| Columbia | $803973 | $(8673) | $795300 | $799653 | 1% | (1)% |
| SOREL | 80964 | (635) | 80329 | 73903 | 10% | 9% |
| prAna | 30375 | 1 | 30376 | 28566 | 6% | 6% |
| Mountain Hardwear | 28113 | (4) | 28109 | 29646 | (5)% | (5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $943425 | $(9311) | $934114 | $931768 | 1% | —% |
| **Product category net sales:** |  |  |  |  |  |  |
| Apparel, accessories and equipment | $734315 | $(6275) | $728040 | $735356 | —% | (1)% |
| Footwear | 209110 | (3036) | 206074 | 196412 | 6% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $943425 | $(9311) | $934114 | $931768 | 1% | —% |
| **Channel net sales:** |  |  |  |  |  |  |
| Wholesale | $634171 | $(6845) | $627326 | $605217 | 5% | 4% |
| DTC | 309254 | (2466) | 306788 | 326551 | (5)% | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $943425 | $(9311) | $934114 | $931768 | 1% | —% |

---

<sup>(1)</sup> Constant-currency net sales is a non-GAAP financial measure. See "Supplemental Financial Information" above for further information.

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**COLUMBIA SPORTSWEAR COMPANY**

**Reconciliation of GAAP to Non-GAAP Financial Measures**

**Net Sales Growth - Constant-currency Basis**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|<br>*(In thousands, except percentage changes)* | **Reported** <br>**Net Sales**<br>**2025** | **Adjust for Foreign Currency**<br>**Translation** | **Constant-currency**<br>**Net Sales**<br>**2025**<sup>(1)</sup> | **Reported** <br>**Net Sales**<br>**2024** | **Reported** <br>**Net Sales**<br>**% Change** | **Constant-currency**<br>**Net Sales**<br>**% Change**<sup>(1)</sup> |
| **Geographical net sales:** |  |  |  |  |  |  |
| United States | $1352988 | $— | $1352988 | $1385940 | (2)% | (2)% |
| Latin America and Asia Pacific | 407901 | 3498 | 411399 | 373115 | 9% | 10% |
| Europe, Middle East and Africa | 402503 | (6652) | 395851 | 350227 | 15% | 13% |
| Canada | 163731 | 4888 | 168619 | 162712 | 1% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2327123 | $1734 | $2328857 | $2271994 | 2% | 3% |
| **Brand net sales:** |  |  |  |  |  |  |
| Columbia | $2035439 | $1595 | $2037034 | $1972231 | 3% | 3% |
| SOREL | 141995 | (125) | 141870 | 140597 | 1% | 1% |
| prAna | 79026 | 12 | 79038 | 81660 | (3)% | (3)% |
| Mountain Hardwear | 70663 | 252 | 70915 | 77506 | (9)% | (9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2327123 | $1734 | $2328857 | $2271994 | 2% | 3% |
| **Product category net sales:** |  |  |  |  |  |  |
| Apparel, accessories and equipment | $1857437 | $2684 | $1860121 | $1818350 | 2% | 2% |
| Footwear | 469686 | (950) | 468736 | 453644 | 4% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2327123 | $1734 | $2328857 | $2271994 | 2% | 3% |
| **Channel net sales:** |  |  |  |  |  |  |
| Wholesale | $1351158 | $(1439) | $1349719 | $1274498 | 6% | 6% |
| DTC | 975965 | 3173 | 979138 | 997496 | (2)% | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2327123 | $1734 | $2328857 | $2271994 | 2% | 3% |

---

<sup>(1)</sup> Constant-currency net sales is a non-GAAP financial measure. See "Supplemental Financial Information" above for further information.

## Exhibit 99.2

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CSC Confidential – Sensitive Information AGENDA CFO COMMENTARY AND FINANCIAL REVIEW THIRD QUARTER 2025 OCTOBER 30 , 2025 Exhibit 99.2

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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 business opportunities and anticipated results of operations . Forward - looking statements generally relate to future events or our future financial or operating performance . In some cases, you can identify forward - looking statements because they contain words such as "may," "might," "will," "would," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "likely," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions . Unless the context indicates otherwise, the terms "we," "us," "our," "the Company," and "Columbia" refer to Columbia Sportswear Company, together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest . 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. 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 the ACCELERATE Growth Strategy ; our ability to execute and realize costs 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 customers' 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 . New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward - looking statements contained in this presentation . Nothing in this presentation should be regarded as a representation by any person that the forward - looking statements set forth herein will be achieved or that any of the contemplated results of such forward - looking statements will be achieved . You should not place undue reliance on forward - looking statements, which speak only as of the date they are made . We do not undertake any duty to update any of the forward - looking statements after the date of this document to conform the forward - looking statements to actual results or to changes in our expectations . FORWARD - LOOKING STATEMENTS

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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 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 U.S. dollars . The Company calculates constant - currency net sales by translating net sales in foreign currencies for the current period into U.S. 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 . Free cash flow is a non - GAAP financial measure . Free cash flow is calculated by reducing net cash flow from operating activities by capital expenditures . Management believes free cash flow provides investors with an important perspective on the cash available for shareholders and acquisitions after making the capital investments required to support ongoing business operations and long - term value creation . Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures . Management uses free cash flow as a measure to assess both business performance and overall liquidity . Non - GAAP financial measures, including constant - currency net sales and free cash flow, 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 in the back of this presentation in the "Appendix" . The non - GAAP financial measures and constant - currency information presented may not be comparable to similarly titled measures reported by other companies . REFERENCES TO NON - GAAP FINANCIAL INFORMATION GLOSSARY OF PRESENTATION TERMINOLOGY 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

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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 - Channel, Global EMPOWER TALENT THAT IS DRIVEN BY OUR CORE VALUES Through a Diverse and Inclusive Workforce 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

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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 GROWTH THROUGH DIVIDENDS AND SHARE REPURCHASES OUR GOAL IS TO MAINTAIN OUR STRONG BALANCE SHEET AND DISCIPLINED APPROACH TO CAPITAL ALLOCATION .

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CSC Confidential – Sensitive Information Q3'25 FINANCIAL OVERVIEW Q 3 '25 FINANCIAL RESULTS COMPARED TO Q 3 '24 Q 3 '25 Highlights : • Net sales increase reflected strength in most of our international markets, partially offset by underlying weakness in the U.S. • Compared to July 2025 guidance, net sales upside was driven by earlier shipments of Fall '25 wholesale orders . • Operating margin contraction primarily reflected impairment charges related to prAna and Mountain Hardwear, incremental tariffs, and SG&A expense deleverage . • Exited the quarter with $236 .0M of cash, cash equivalents and short - term investments, and no borrowings . • Inventory was flat y/y in dollar terms and down 5% y/y in units .

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CSC Confidential – Sensitive Information Q3'25 ACTUAL VS LAST YEAR Commentary on Q 3 '25 financial results vs last year : • Net sales increase primarily reflected earlier shipment of Fall '25 wholesale orders, which benefitted sales in the quarter by approximately $30 M, partially offset by lower DTC net sales . Sales growth in most of our international markets was partially offset by underlying weakness in the U.S. • Gross margin contraction reflected impact of incremental tariffs and unfavorable FX, which more than offset higher channel profitability from lower clearance and promotional activity . • SG&A was up 5% y/y, primarily driven by higher demand creation and omni - channel expenses . • Operating income included impairment charges of $29 .0M related to prAna and Mountain Hardwear, which negatively impacted diluted EPS by $0.46 . (dollars in millions, except per share amounts) Q3'25 Q3'24 Change Net Sales $943.4 $931.8 +1% Gross margin 50.0% 50.2% -20 bps SG&A percent of net sales 40.4% 38.8% +160 bps Operating income $67.4 $112.5 -40% Operating margin 7.1% 12.1% -500 bps Net income $52.0 $90.2 -42% Diluted EPS $0.95 $1.56 -39%

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CSC Confidential – Sensitive Information Q3'25 REGIONAL NET SALES PERFORMANCE Commentary below is based on constant currency performance . U.S. • Wholesale : relatively flat, earlier wholesale shipment timing, partially offset by lower Fall '25 orders • DTC : down HSD % (DTC B&M down HSD %, DTC .com down LDD %) • The Company had 172 stores (152 outlets, 20 branded) exiting Q 3 '25 vs . 169 stores (152 outlets, 17 branded) exiting Q 3 '24 • In addition, the Company operated 8 temporary clearance locations exiting Q 3 '25 vs . 42 temporary clearance locations exiting Q 3 '24 LAAP • Japan : down LSD % (down LSD % c .c .), lower wholesale sales, reflecting later Fall '25 shipments, was partially offset by DTC growth • China : up HSD % (up MSD% c .c .), outdoor category trends remain strong despite a warm start to the Fall season • Korea : down LSD % (relatively flat c .c .), lower wholesale sales partially offset by modest DTC growth • LAAP distributor : up mid - teens % reflecting healthy orderbook growth EMEA • Europe - direct : up high - teens % (up LDD % c .c .), with strong DTC and wholesale performance • EMEA distributor : down slightly, as earlier shipments of Fall '25 orders in Q 2 '25 was largely offset by healthy orderbook growth Canada • +6 % (+7 % c .c .): as earlier Fall '25 wholesale shipments and orderbook growth was partially offset by softness in DTC Q 3 '25 NET SALES AND GROWTH VS . Q 3 '24 CANADA +6% (+7% c.c.) $89M U.S. - 4% (- 4% c.c.) $547M EMEA +16 % (+10 % c.c.) $164M LAAP +6% (+6% c.c.) $143M

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CSC Confidential – Sensitive Information Q3'25 NET SALES OVERVIEW Q 3 '25 NET SALES AND GROWTH VS . Q 3 '24 CATEGORY PERFORMANCE CHANNEL PERFORMANCE WHOLESALE: DTC: - 5 % (- 6 % c.c .) $63 4M $309 M +5 % (+4 % c.c .) • Both Columbia brand and SOREL footwear grew in the quarter • Columbia increase reflected sales growth, internationally partially offset by softness in the U.S. • SOREL increase driven by earlier shipment of Fall '25 wholesale orders • prAna increase reflected higher wholesale and DTC sales • Mountain Hardwear decline reflected lower clearance sales, partially offset by increased full price sales • Wholesale sales growth reflected earlier shipment of Fall '25 orders • DTC B&M - 4%, DTC.com - 8% APPAREL, ACCESSORIES & EQUIPMENT: $734M 0 % (- 1 % c.c .) FOOTWEAR: +6 % (+5 % c.c .) $209 M BRAND PERFORMANCE +1 % (- 1 % c.c .) $804M +10 % (+9 % c.c .) $81 M +6 % (+6 % c.c .) $30M - 5 % (- 5 % c.c .) $28M

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CSC Confidential – Sensitive Information Q3'25 GROSS MARGIN BRIDGE HEADWINDS • Channel Profitability: increased tariffs incurred ~$15M in incremental tariff expense prior to mitigation actions • FX: unfavorable effects from foreign exchange hedge rates TAILWINDS • Channel Profitability: lower clearance and promotional activity Q3'25 GROSS MARGIN CONTRACTED 20 BPS Y/Y TO 50.0%

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CSC Confidential – Sensitive Information Q3'25 SG&A BRIDGE VS LAST YEAR \* Excludes Retail ; \*\*Excludes Advertising Q3'25 SG&A INCREASED $19.7 MILLION, OR 5% PRIMARY SG&A EXPENSE INCREASES • Marketing: increased demand creation investments as part of ACCELERATE, represented 6.8% of sales vs. 5.7% in Q3'24 • Omni - channel: higher brick & mortar expenses related to new stores, partially offset by temporary clearance location closures • Other: includes higher supply chain costs, partially offset by lower technology expenses Q3'25 SG&A EXPENSES WERE 40.4% OF NET SALES COMPARED TO 38.8% IN Q3'24

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BALANCE SHEET OVERVIEW Cash, cash equivalents and short - term investments totaled $236 .0M, compared to $373 .9M as of September 30 , 2024 . $236 M 0% BALANCE SHEET AS OF SEPTEMBER 30 , 2025 INVENTORY CASH, CASH EQUIVALENTS, AND SHORT - TERM INVESTMENTS Inventories were essentially flat y/y at $800 .4M, as earlier receipt of Fall '25 inventory was offset by earlier wholesale shipments . While inventory dollars were flat, units were down 5% y/y . Older season inventories represent a manageable portion of our total inventory .

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CAPITAL OVERVIEW - $333M Net cash flow used in operating activities was $333 .4M, compared to $76 .6M for the same period in 2024 . The change in operating cash flow was primarily driven by earlier timing of inventory receipts and payments, in part to proactively mitigate the impact of further incremental tariffs . Capital expenditures totaled $46 .6M compared to $41 .7M for the same period in 2024 . $1 72M The Company repurchased 2 ,400 ,131 shares of common stock for an aggregate of $171 .7M (based on trade date), for an average price per share of $71 .53 . YTD SHARE REPURCHASES YTD CAPITAL EXPENDITURES YTD NET CASH FLOW USED IN OPERATIONS $0.30 Quarterly dividend ($0.30 per share) – payable on December 4, 2025, to shareholders of record on November 20, 2025. DECLARED DIVIDENDS $47M

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CSC Confidential – Sensitive Information 2025 FINANCIAL OUTLOOK AND PRELIMINARY H1'26 COMMENTARY The Company's 2025 Financial Outlook is forward - looking in nature, and the following forward - looking statements reflect our expectations as of October 30 , 2025 and are subject to significant risks and business uncertain ties, including those factors described under "Forward - Looking Statements" elsewhere in this presentation . These risks and uncertainties limit our ability to accurately forecast results . 2025 Outlook • Net sales of $3.33B to $3.37B, representing a 1% decline to flat compared to 2024. • Gross margin of 50.0% to 50.2%, compared to 50.2% in 2024. - Guidance assumes U.S. tariff rates as of October 30 th, 2025 . - Based on this assumption, the impact of additional tariffs in 2025 is expected to be $35M to $40M, prior to mitigation actions. • Operating income of $163M to $185M, or 4.9% to 5.5% of net sales, compared to 8.0% in 2024. Operating income guidance includes $29M of impairment charges related to prAna and Mountain Hardwear. • Diluted EPS of $2.55 to $2.85, compared to $3.82 in 2024. Diluted EPS guidance includes negative impact of $0.46 from impairment charges related to prAna and Mountain Hardwear. Q4'25 Outlook • Net sales of $1,008M to $1,041M, representing a decrease of approximately 8% to 5% compared to Q4'24. - Net sales guidance includes a $30M to $40M impact of a higher proportion of Fall 2025 shipments occurring in third quarter 2025 in comparison to third quarter 2024. • Guidance assumes a $20M to $25M impact from additional tariffs in Q4'25, prior to mitigation actions. • Operating margin of 7.2% to 9.1% of net sales, compared to 12.5% in Q4'24. • Diluted EPS is expected to be $1.04 to $1.34, compared to $1.80 in Q4'24. Preliminary H1'26 Commentary • Wholesale net sales of flat to +LSD%, contemplating sustained international growth across our direct and distributor markets, partially offset by a decline in the U.S.

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CSC Confidential – Sensitive Information ACCELERATE GROWTH STRATEGY MARKETPLACECreate 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. m arketplace PRODUCTEmphasize innovation and style Deliver durable high - value products Streamline assortment with fewer, more powerful collections with clear purpose BRAND CONSUMER Fuel Our Growth Strengthen our Core Elevate consumers' perception of the Columbia brand Refreshed creative strategy that brings Columbia's unique brand personality to life Deliver growth with new consumers Bring new younger, active consumers into the brand Steward core consumer segments Continue to serve existing consumers with accessible outdoor essentials MARKETING Deliver integrated full - funnel marketing Higher and more efficient demand creation spending ,with more creative and immersive ways to experience the brand 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 .

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CSC Confidential – Sensitive Information PROFIT IMPROVEMENT PLAN UPDATE The Company has executed cost savings that exceed the original $125 - 150 million profit improvement target set in 2024 and continues to seek additional savings Annualized Cost Savings Executed to Date ~$90M in 2024 and ~$70M in 2025 YTD ▪ Operational Cost Savings: normalizing inventories, supply chain transformation, enterprise technology cost structure optimization ▪ Organization Cost Savings: reduction - in- force, primarily impacting U.S. corporate personnel, and expense reductions across the Company's cost structure ▪ Indirect Cost Savings: strategic sourcing and vendor rationalization ▪ Underperforming DTC Store Rationalization Profit Improvement Plan Objective Right - size the Company's cost structure to alleviate SG&A pressure and to position the Company to expand operating margin over time, while also providing capacity to invest in Columbia's ACCELERATE strategy and other strategic priorities

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APPENDIX

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CSC Confidential – Sensitive Information Q3'25 CONSTANT - CURRENCY RECONCILIATION

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CSC Confidential – Sensitive Information NINE MONTHS FREE CASH FLOW RECONCILIATION

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![](cfocommentaryq32025vf020.jpg)

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