Core Viewpoint - Columbia Sportswear reported quarterly earnings of $1.41 per share, exceeding the Zacks Consensus Estimate of $1.21 per share, but down from $1.56 per share a year ago, indicating an earnings surprise of +16.53% [1][2] Financial Performance - The company achieved revenues of $943.43 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.40% and showing an increase from $931.77 million year-over-year [2] - Over the last four quarters, Columbia Sportswear has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance and Outlook - Columbia Sportswear shares have declined approximately 38.1% year-to-date, contrasting with the S&P 500's gain of 17.2% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $1.52 for the coming quarter and $3.25 for the current fiscal year [7] Industry Context - The Textile - Apparel industry, to which Columbia Sportswear belongs, is currently ranked in the bottom 19% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Financial Data and Key Metrics Changes - Net sales increased by 1% year-over-year to $943 million, driven by earlier-than-planned shipments of Fall '25 wholesale orders [7][8] - Gross margin declined by 20 basis points to 50% due to higher tariff expenses and foreign exchange headwinds [7][8] - SG&A expenses increased by 5%, reflecting investments in demand creation for the new brand platform [8][54] - Diluted earnings per share were $0.95, impacted by $0.46 from non-cash impairment charges related to Prana and Mountain Hardwear [8][20] Business Line Data and Key Metrics Changes - U.S. net sales decreased by 4%, with wholesale business flat and direct-to-consumer (DTC) net sales declining by high single digits [8][9] - International sales showed growth, with LAAP net sales increasing by 6% and China net sales increasing by mid-single-digit percentages [9][10] - Sorel net sales increased by 10%, while Prana net sales grew by 6% [17][18] - Mountain Hardwear net sales decreased by 5%, but full-price sales showed healthy growth [18][19] Market Data and Key Metrics Changes - U.S. DTC sales were down high single digits, primarily due to the closure of temporary clearance locations [9][50] - E-commerce sales declined by low double digits, reflecting soft traffic and demand trends [9][10] - Canada net sales increased by 7%, driven by earlier shipments of Fall 2025 wholesale orders [12] - EME net sales increased by 10%, with Europe direct net sales growing by low double digits [12] Company Strategy and Development Direction - The company is focused on revitalizing the Columbia brand in the U.S. through the Accelerate Growth strategy and the new global brand platform, "Engineered for Whatever" [5][6] - The strategy includes a robust marketing pipeline and product differentiation to engage younger consumers [5][6] - The company aims to offset tariff impacts through price increases and other mitigation tactics while restoring product margin percentages to historic levels [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the challenges posed by tariffs and the competitive environment, emphasizing the importance of brand revitalization [6][30] - The company anticipates a decline in net sales of 5% to 8% year-over-year for Q4, with full-year net sales outlook at $3.3 billion to $3.4 billion [20][21] - For 2026, the company expects flat to low single-digit wholesale growth in the first half, driven by sustained international growth [21][22] Other Important Information - The company incurred $29 million in non-cash impairment charges during the quarter, primarily due to tariff impacts [8][20] - Columbia launched a redesigned website to enhance product discovery and consumer engagement [14][15] - The company is actively engaging in unique marketing activations, including a scavenger hunt in New York City to promote brand awareness [16][17] Q&A Session Summary Question: Impact of the Bugaboo re-release - The collaboration on the Bugaboo One involved both the CEO and his mother, with the CEO handling product work and his mother focusing on the name [23] Question: Future product pipeline - The company plans to introduce more products in the Amaze family and original Peter Moore designs, indicating strong sales velocity [24][25] Question: Confidence in offsetting tariff impacts - Management expressed confidence in navigating tariff challenges through price increases and strategic factory partnerships [30] Question: SG&A rate recovery - The company aims to achieve SG&A leverage through growth and cost reduction initiatives, with a focus on marketing investments [31][32] Question: Promotional levels and inventory - The company noted lower promotions compared to the previous year, with healthy margins in the marketplace [34] Question: U.S. DTC performance - The decline in U.S. DTC was primarily due to fewer temporary clearance stores, with digital visibility being a key focus [50] Question: Gross margin outlook - The fourth quarter is expected to see a heavier tariff impact, with gross margin anticipated to decline more than in Q3 [45] Question: Channel inventory levels - Current channel inventories are considered healthy, with no significant buildup observed [46]

Financial Performance - Net sales increased by 1% to $943.4 million compared to $931.8 million in Q3'24 [31] - Gross margin contracted by 20 bps to 50.0% [31, 52] - Operating income decreased by 40% to $67.4 million compared to $112.5 million in Q3'24 [31] - Diluted EPS decreased by 39% to $0.95 compared to $1.56 in Q3'24 [31] Regional Performance - US net sales decreased by 4% to $547 million [36] - EMEA net sales increased by 16% to $164 million [36] - LAAP net sales increased by 6% to $143 million [36] - Canada net sales increased by 6% to $89 million [36] Category and Channel Performance - Apparel, Accessories & Equipment net sales remained flat at $734 million [43] - Footwear net sales increased by 6% to $209 million [43] - Wholesale net sales increased by 5% to $634 million [48] - DTC net sales decreased by 5% to $309 million [49] Financial Outlook - The company expects net sales of $3.33 billion to $3.37 billion for 2025, representing a 1% decline to flat growth compared to 2024 [75] - The company expects diluted EPS of $2.55 to $2.85 for 2025, compared to $3.82 in 2024 [76]

Financial Performance - Third quarter 2025 net sales increased 1 percent to $943.4 million, compared to $931.8 million in the third quarter of 2024[9] - Operating income decreased 40 percent to $67.4 million, or 7.1 percent of net sales, down from $112.5 million, or 12.1 percent of net sales in the prior year[6] - Diluted earnings per share were $0.95, compared to $1.56 in the third quarter of 2024, impacted by $0.46 from impairment charges[14] - Full year 2025 net sales guidance is $3.33 to $3.37 billion, reflecting a decline of 1.0 percent to flat compared to 2024[33] - Operating income for full year 2025 is projected to be between $163 million and $185 million, with an operating margin of 4.9 to 5.5 percent[33] - Gross margin for the third quarter contracted 20 basis points to 50.0 percent from 50.2 percent in the prior year, due to tariffs and unfavorable foreign exchange rates[10] - SG&A expenses increased to $380.9 million, or 40.4 percent of net sales, compared to $361.2 million, or 38.8 percent of net sales in the third quarter of 2024[11] - The company exited the quarter with $236.0 million in cash and no borrowings[19] Sales Performance by Region and Channel - In the United States, net sales decreased by 4% to $546,690 thousand from $571,306 thousand year-over-year[46] - Europe, Middle East and Africa saw a significant increase in net sales of 16%, reaching $164,461 thousand compared to $141,785 thousand in the previous year[46] - SOREL brand net sales increased by 10% to $80,964 thousand from $73,903 thousand year-over-year[46] - Direct-to-consumer (DTC) channel net sales decreased by 5% to $309,254 thousand from $326,551 thousand in the same quarter last year[46] - Latin America and Asia Pacific net sales grew by 9% to $407,901 thousand compared to $373,115 thousand in the previous year[49] - Wholesale channel net sales increased by 6% to $1,351,158 thousand from $1,274,498 thousand in the same period last year[49] Strategic Initiatives - The ACCELERATE Growth Strategy aims to attract younger consumers and includes a new brand platform, 'Engineered for Whatever'[4][5] - The company plans to report fourth quarter 2025 financial results on February 3, 2026[31] Overall Sales Performance - For the nine months ended September 30, 2025, total net sales were $2,327,123 thousand, a 2% increase from $2,271,994 thousand in 2024[49] - Apparel, accessories, and equipment category net sales for the nine months increased by 2% to $1,857,437 thousand from $1,818,350 thousand year-over-year[49] - The company reported a constant-currency net sales growth of 3% for the nine months ended September 30, 2025, compared to the previous year[49]

Core Points - Columbia Sportswear is reintroducing the Bugaboot™ 1, its first-ever footwear product, for a limited release [1] - The reintroduction honors the original 1993 design and features legacy iconography [1] - Each pair is individually numbered and incorporates Columbia's latest premium footwear technology [1] - A total of 1,993 pairs will be available for purchase starting October 14 at 7:00 am PDT, exclusively for Columbia Greater Rewards members [1]

Core Insights - Columbia Sportswear Company (COLM) is driving growth through brand elevation, global expansion, and disciplined business management [1] - The company is focused on revitalizing its Columbia brand by executing the ACCELERATE growth strategy, aimed at strengthening brand equity, driving consumer engagement, and expanding global reach [1][9] Brand Strategy - Columbia is benefiting from its ACCELERATE strategy, which targets younger, active consumers and refines the company's segmentation framework to identify growth opportunities [2] - The company enhances consumer perception through a refreshed creative strategy centered around product innovation and authentic storytelling [3][9] Marketing and Sales Performance - Columbia's global marketing platform rollout is on track, with brand sales rising 8% year over year in Q2 2025, supported by strategic product innovation and consumer-focused initiatives [4] - The company expects a 1.3% increase in sales for the current year [4] Digital and Marketing Investments - In response to evolving consumer behavior, Columbia is increasing marketing investments and prioritizing digital-first and social-first strategies to maximize efficiency and demand creation [5] - The company is navigating near-term challenges while executing long-term priorities, backed by a sound balance sheet and international trade expertise [5] Competitive Landscape - Columbia's peers, such as Ralph Lauren Corporation, Hanesbrands Inc., and PVH Corp., are also focusing on brand elevation, product innovation, and strategic execution to enhance their market positions [6][7][8]

Core Insights - Columbia Sportswear Company (COLM) is achieving growth through brand-elevation initiatives, global expansion, and disciplined business management, focusing on its ACCELERATE strategy to strengthen brand equity and drive consumer engagement [1][11] Brand Performance - Columbia brand sales increased by 8% year over year in Q2 2025, supported by strategic product innovation and consumer-focused initiatives, with expectations of a 1.3% sales increase for the current year [2][11] Marketing Strategy - The company is enhancing its marketing investments, prioritizing digital-first and social-first strategies to maximize demand-creation efforts, leveraging innovative storytelling to differentiate itself and deepen consumer engagement [4][11] Financial Performance - Columbia's shares have declined by 32.7% year to date, compared to the industry's decline of 27.9% [7] - The forward price-to-earnings ratio for COLM is 17.13X, higher than the industry average of 11.43X [8] - The Zacks Consensus Estimate indicates a year-over-year decline in earnings per share (EPS) of 12.8% for 2025 and 1.1% for 2026, with recent EPS estimates moving downward [9][12]

Core Insights - Columbia (NASDAQ: COLM) reported quarterly results that exceeded expectations but provided a disappointing forward outlook, leading to a decline in stock price [1] - The company's shares have experienced a nearly 40% loss year-to-date following the quarterly release [1]

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for the period ended June 30, 2025, reflect total assets of $2.89 billion, a Q2 net loss of $10.2 million, and a six-month negative operating cash flow of $62.9 million, largely due to increased inventory [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were $2.89 billion, with key changes including a decrease in cash to $579.0 million and a significant increase in inventories to $926.9 million, while total liabilities rose to $1.24 billion and equity decreased to $1.65 billion Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | June 30, 2024 | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $427,804 | $531,869 | $341,822 | | Inventories | $926,929 | $690,515 | $823,557 | | Total current assets | $1,894,029 | $2,008,582 | $1,847,810 | | Total assets | $2,890,377 | $2,975,265 | $2,760,821 | | **Liabilities & Equity** | | | | | Accounts payable | $478,948 | $385,695 | $267,853 | | Total current liabilities | $761,282 | $766,545 | $544,441 | | Total liabilities | $1,236,505 | $1,195,226 | $936,859 | | Total shareholders' equity | $1,653,872 | $1,780,039 | $1,823,962 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2025, net sales increased to $605.2 million, gross profit rose to $297.1 million with improved margin, and the company reported a net loss of $10.2 million, while six-month net income increased to $32.1 million Consolidated Statements of Operations Highlights (in thousands, except per share amounts) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $605,246 | $570,244 | $1,383,698 | $1,340,226 | | Gross profit | $297,108 | $273,419 | $693,165 | $662,978 | | Operating income (loss) | $(23,591) | $(23,802) | $22,917 | $20,879 | | Net income (loss) | $(10,196) | $(11,741) | $32,052 | $30,559 | | Diluted EPS | $(0.19) | $(0.20) | $0.58 | $0.51 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was $62.9 million, a significant reversal from the prior year, primarily due to a $218.1 million increase in inventories Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(62,886) | $108,893 | | Net cash provided by investing activities | $110,582 | $29,951 | | Net cash used in financing activities | $(165,262) | $(138,960) | | **Net decrease in cash and cash equivalents** | **$(104,065)** | **$(8,497)** | - The significant use of cash in operations was primarily due to a **$218.1 million increase in inventories**, compared to an **$88.8 million increase** in the prior year period[16](index=16&type=chunk) - The company repurchased **$131.7 million of common stock** in the first six months of 2025, an increase from **$102.6 million** in the same period of 2024[16](index=16&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed breakdowns of financial data, including disaggregated revenue by product and channel, segment performance, increased use of Supply Chain Financing, and share repurchase activity Q2 2025 Net Sales by Product Category (in thousands) | Product Category | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Apparel, Accessories and Equipment | $494,302 | $463,940 | +6.6% | | Footwear | $110,944 | $106,304 | +4.4% | | **Total** | **$605,246** | **$570,244** | **+6.1%** | Q2 2025 Net Sales by Channel (in thousands) | Channel | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Wholesale | $317,218 | $278,384 | +14.0% | | Direct-to-consumer | $288,028 | $291,860 | -1.3% | | **Total** | **$605,246** | **$570,244** | **+6.1%** | - Outstanding payables under the Supply Chain Financing (SCF) program were **$137.2 million** as of June 30, 2025, compared to **$0** as of June 30, 2024, indicating increased use of this financing tool[62](index=62&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q2 2025 net sales growth to strong EMEA and LAAP performance, offset by U.S. declines, while focusing on 'ACCELERATE Growth Strategy' and 'Profit Improvement Program' amidst tariff uncertainties and a soft U.S. consumer environment [Overview and Strategy](index=31&type=section&id=Overview%20and%20Strategy) The company is executing its 'ACCELERATE Growth Strategy' to attract younger consumers and a 'Profit Improvement Program' that has already achieved over $150 million in annualized cost savings - The Columbia brand's ACCELERATE Growth Strategy is a multi-year initiative focused on elevating the brand to attract younger consumers while retaining its core value-oriented customer base[88](index=88&type=chunk)[91](index=91&type=chunk) - The Profit Improvement Program has yielded annualized cost savings exceeding **$150 million** through actions executed in 2024 and the first half of 2025, surpassing the initial target of **$125-$150 million**[93](index=93&type=chunk) [Business Environment and Trends](index=33&type=section&id=Business%20Environment%20and%20Trends) The business environment is marked by significant uncertainty from U.S. tariffs, prompting accelerated inventory receipts, while the North American market remains soft and competitive, contrasting with healthy international trends - To mitigate potential tariff impacts, the company has accelerated the timing of inventory receipts and worked with wholesale customers to ship Fall 2025 orders earlier[95](index=95&type=chunk) - The company expects to absorb much of the incremental tariff cost for Fall 2025 but plans to offset higher tariffs over time through price increases, vendor negotiations, and SG&A efficiencies[97](index=97&type=chunk) - In response to a soft U.S. market, the company is implementing the ACCELERATE Growth Strategy, which includes becoming less promotional on Columbia.com and opening new branded stores in high-traffic malls[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) [Results of Operations — Consolidated](index=35&type=section&id=Results%20of%20Operations%20%E2%80%94%20Consolidated) For Q2 2025, consolidated net sales grew 6% to $605.2 million, driven by wholesale, with gross margin expanding to 49.1% due to healthier inventory, while SG&A expenses rose 8% to $325.6 million Q2 2025 Net Sales Performance vs. Q2 2024 | Category | Reported % Change | Constant Currency % Change | | :--- | :--- | :--- | | **Total Net Sales** | **6%** | **6%** | | **By Brand** | | | | Columbia | 8% | 7% | | SOREL | (10)% | (11)% | | **By Channel** | | | | Wholesale | 14% | 14% | | Direct-to-consumer | (1)% | (2)% | - Q2 2025 gross margin expanded by **120 basis points** to **49.1%**, primarily due to a **245 bps increase** from healthier inventory, which led to higher product margins and less promotional activity[112](index=112&type=chunk)[116](index=116&type=chunk) - Q2 2025 SG&A expenses increased by **8%** to **$325.6 million**, driven by higher omni-channel expenses (**$12.7 million**) from new stores and increased investment in demand creation[113](index=113&type=chunk)[117](index=117&type=chunk) [Results of Operations — Segment](index=42&type=section&id=Results%20of%20Operations%20%E2%80%94%20Segment) In Q2 2025, EMEA and LAAP segments showed strong net sales growth of 26% and 13% respectively, while the U.S. segment declined 2% and Canada experienced a larger operating loss due to higher SG&A Q2 2025 Net Sales by Geographic Segment (in thousands) | Segment | Q2 2025 Net Sales | Q2 2024 Net Sales | Reported % Change | | :--- | :--- | :--- | :--- | | U.S. | $335,117 | $340,228 | (2)% | | LAAP | $112,333 | $99,484 | 13% | | EMEA | $130,562 | $103,922 | 26% | | Canada | $27,234 | $26,610 | 2% | Q2 2025 Segment Operating Income (Loss) (in thousands) | Segment | Q2 2025 Op. Income | Q2 2024 Op. Income | Change | | :--- | :--- | :--- | :--- | | U.S. | $17,338 | $23,466 | $(6,128) | | LAAP | $7,022 | $6,082 | $940 | | EMEA | $21,630 | $14,419 | $7,211 | | Canada | $(1,954) | $(23) | $(1,931) | [Liquidity and Capital Resources](index=47&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with $579.0 million in cash and access to a $500.0 million credit facility, despite negative operating cash flow for the first half due to strategic inventory increases to mitigate tariff impacts - Cash flow from operations was a use of **$62.9 million** for the first six months of 2025, a **$171.8 million decrease** from the prior year, mainly due to a **$129.3 million increase** in cash used for inventories[146](index=146&type=chunk) - Inventory balance increased to **$926.9 million** as of June 30, 2025, compared to **$823.6 million** a year prior, as the company accelerated production and receipt of Fall 2025 inventory to mitigate tariff risks[154](index=154&type=chunk) - Planned capital expenditures for the full year 2025 are approximately **$60 to $80 million**, targeting investments in DTC operations, new stores, and supply chain capabilities[155](index=155&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=53&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its market risk disclosures from those reported in its Annual Report on Form 10-K for the year ended December 31, 2024 - There has not been any material change in the market risk disclosure from the company's most recent Annual Report on Form 10-K[165](index=165&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of June 30, 2025, the CEO and CFO concluded that the company's disclosure controls and procedures are effective at providing reasonable assurance[167](index=167&type=chunk) - No changes occurred during the quarter ended June 30, 2025, that materially affected or are reasonably likely to materially affect the company's internal control over financial reporting[168](index=168&type=chunk) [PART II — OTHER INFORMATION](index=54&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Legal Proceedings](index=54&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal matters arising in the normal course of business, which management does not believe will have a material adverse effect on its financial condition - The company is involved in routine litigation but does not expect the outcomes to have a material adverse effect on its financial position[171](index=171&type=chunk) [Risk Factors](index=54&type=section&id=Item%201A.%20Risk%20Factors) The company outlines numerous risks, with a significant focus on adverse impacts from evolving U.S. global trade policy and tariffs, alongside dependencies on consumer spending, intense competition, supply chain reliance, and IT system vulnerabilities - Rapidly evolving U.S. global trade policy and tariffs may reduce consumer demand, impair the financial health of wholesale customers, and cause supply chain disruptions[174](index=174&type=chunk) - The company's success is highly dependent on consumer discretionary spending, which can be volatile, and faces significant competition from global brands, emerging brands, and private labels[178](index=178&type=chunk) - Reliance on contract manufacturers, primarily in Asia, creates risks related to production capacity, quality control, and potential supply disruptions[186](index=186&type=chunk) - A security breach of IT systems or those of third-party cloud providers could disrupt operations, expose confidential data, and result in substantial costs or reputational damage[212](index=212&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=76&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2025, the company repurchased 426,000 shares of common stock for approximately $30.2 million, with $495.9 million remaining available under the authorized share repurchase program Common Stock Repurchases for Q2 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | 426,000 | $71.01 | | May 2025 | — | $— | | June 2025 | — | $— | | **Total** | **426,000** | **$71.01** | - As of June 30, 2025, the company had **$495.9 million** remaining available under its share repurchase program[257](index=257&type=chunk)[259](index=259&type=chunk) [Other Information](index=78&type=section&id=Item%205.%20Other%20Information) The company provided an update on U.S. tariff expenses following executive orders in July and August 2025, noting that over 90% of its Fall 2025 U.S.-bound inventory was shipped before the effective date, mitigating immediate impact - Executive orders in July and August 2025 revised incremental tariffs for key sourcing countries, including Vietnam (**10% to 20%**), Bangladesh (**10% to 20%**), and India (**10% to 25%**, plus an additional **25%**)[261](index=261&type=chunk) - The company mitigated the immediate impact of the new tariffs as over **90%** of its Fall 2025 U.S.-bound inventory was shipped before the August 7, 2025 effective date[261](index=261&type=chunk) [Exhibits](index=78&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including corporate documents and certifications from the CEO and CFO, along with XBRL interactive data files - The report includes required certifications from the CEO and CFO under Rules 13a-14(a) and Section 1350[264](index=264&type=chunk)

Core Viewpoint - Columbia Sportswear has filed a lawsuit against Columbia University for alleged trademark infringement and breach of contract, claiming that the university's merchandise closely resembles its own products [1][4]. Group 1: Lawsuit Details - The lawsuit was filed on July 23 in the U.S. District Court for the District of Oregon, alleging that the university intentionally violated an agreement signed on June 13, 2023 [4][5]. - The agreement allowed the university to use the name "Columbia" on its merchandise only if it included recognizable school insignia, the word "university," or other specified elements [5]. - Columbia Sportswear claims that the university has breached this agreement by selling garments without any school logos, which are similar in color to Columbia Sportswear's products [6][8]. Group 2: Impact and Claims - The lawsuit argues that the university's actions are causing irreparable harm to Columbia Sportswear's brand and goodwill associated with its registered trademark [8]. - Columbia Sportswear is seeking to halt sales of the infringing clothing, recall products already sold, and donate remaining merchandise to charity [10]. - The company is also pursuing three times the actual damages determined by a jury [10]. Group 3: Contextual Background - The lawsuit coincides with Columbia University facing potential loss of billions in government support, having recently reached a $220 million settlement with the Trump administration [9].