Columbia (COLM) sees a 'challenging' year ahead; Shares slump on results, outlook
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Columbia Sportswear Company Reports Fourth Quarter and Full Year 2023 Financial Results; Provides Full Year 2024 Financial Outlook
February 1, 2024 4:05 PM ESTFourth Quarter 2023 Highlights
Net sales decreased 9 percent (10 percent constant-currency) to $1,060.0 million, compared to fourth quarter 2022. Operating income decreased 27 percent to $113.1 million, or 10.7 percent of net sales, compared to fourth quarter 2022 operating income of $155.4 million, or 13.3 percent of net sales. Fourth quarter 2023 operating income includes a $25.0 million impairment charge related to prAna, compared to $35.6 million in the comparable period in 2022. Diluted earnings per share decreased 23 percent to $1.55, compared to fourth quarter 2022 diluted earnings per share of $2.02. The impairment charge related to prAna negatively impacted diluted earnings per share by $0.31,... More