Challenging year ahead, Tim Boyle predicts
Outdoor group Columbia Sportswear has reported full-year revenues for 2023 of just under $3.5 billion, an increase of 1% year on year.
Chief executive, Tim Boyle, said a programme to reduce inventory across the group had proved successful. Other plus-points he mentioned were that the Columbia brand had generated “healthy growth outside of the US”, led by China and Europe.
The group also includes outdoor footwear brand Sorel.
In the US, he explained, the group had had to navigate a difficult domestic marketplace and a warm winter, both of which impacted its fourth quarter performance.
“Looking ahead, we expect 2024 to be a challenging year,” Mr Boyle continued. “Retailers are placing orders cautiously, and economic and geopolitical uncertainty remains high. We are working diligently to maximise sales in this environment, while optimising our product, brand marketing and marketplace strategies to accelerate growth in 2025 and beyond.”
