COLM - Columbia Sportswear shares sink as sales growth cools off

Columbia Sportswear Company (NASDAQ:COLM -6.2%) shares are slumping on Friday as sales deceleration dampens sentiment on the stock’s trajectory. The company reported a mixed first quarter on Thursday evening, beating earnings per share estimates by $0.17, but narrowly missing revenue expectations. Moving forward the Oregon-based outerwear and apparel company largely reaffirmed guidance estimates. However, management commentary on slowing sales into the second quarter is driving the trend for shares on Friday. “As the quarter progressed, the combination of lean spring 2022 inventories at retail and the anniversary of prior year government stimulus resulted in sales growth moderating in March,” CEO Timothy Boyle said.  He added that “ongoing supply chain and inflationary pressures” as well as a shutdown of distribution in Russia will impact results moving forward. Rising COVID-19 case numbers in China were likewise cited as a negative trend tempering expectations for the quarter underway. As these headwinds mount, Bank of

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Columbia Sportswear shares sink as sales growth cools off