COLM - Columbia Sportswear: Valuation Improving After The Drop

• Columbia Sportswear released its Q3 results in October, reporting a 15% increase in revenue year-over-year, but a double-digit decline on a two-year basis.
• This was impacted by supply chain headwinds which led to delayed receipts, and freight costs could impact margins next year despite planned price increases.
• The good news is that Columbia expected robust sales growth next year, and a combination of margin expansion and a lower share count is contributing to steady annual EPS growth.
• While I don't see enough of a margin of safety just yet, I would view pullbacks below $84.50 as low-risk buying opportunities.

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