What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2024-02-26 compared with 2023-02-23 · 47 added, 47 removed, 153 unchanged (38% of the section changed)

3 unchanged sentences

We connect active people with their passions by providing them with the products they need to seek inspiration and adventure.

We meet the diverse needs of our customers and consumers through our four well-known brands by designing, developing, marketing, and distributing our outdoor, active and lifestyle products, including apparel, footwear, accessories and equipment.

We meet the diverse needs of our customers and consumers through our four brands by designing, developing, marketing, and distributing our outdoor, active and lifestyle products, including apparel, footwear, accessories and equipment.

Columbia® | Founded in 1938, our Columbia brand's mission is to unlock the outdoors for everyone.

Our Columbia brand offers authentic, high-value outdoor apparel, footwear, accessories and equipment products suited for hiking, trail running, snow, and fishing and hunting activities, as well as everyday outdoor activities.

SOREL® | Acquired in 2000, our SOREL brand's mission is to challenge the status quo by creating unexpected footwear that pushes the boundaries of function-first fashion.

Our SOREL brand offers functional and fashionable footwear suited for all seasons.

Mountain Hard Wear® | Acquired in 2003, our Mountain Hardwear brand's mission is to create performance apparel and equipment to empower outdoor athletes to live boldly.

Our Mountain Hardwear brand offers premium apparel, accessories and equipment products designed to meet the high-performance needs of mountaineering, climbing, skiing and snowboarding, trail, and camp enthusiasts.

prAna® | Acquired in 2014, our prAna brand's mission is to inspire the pursuit of wellness to create a healthier body, mind and planet.

Our prAna brand offers apparel, accessories and equipment products for trail, climbing, studio and water based activities.

SOREL® | Acquired in 2000, our SOREL brand has evolved from a men's utility boot brand into a contemporary lifestyle brand bringing style to the outdoors.

Our SOREL brand leverages its rich heritage, innovation and style to offer distinct, compelling, and unexpected footwear to consumers around the world.

Mountain Hard Wear® | Acquired in 2003, our Mountain Hardwear brand's mission is to encourage and equip people to seek a wilder path in life.

With over 30 years of wild wisdom, our Mountain Hardwear brand continues to design essential, premium apparel, accessories and equipment products for climbers, mountaineers, skiers, snowboarders, and trail athletes.

prAna® | Acquired in 2014, our prAna brand's mission is to inspire an intentional, authentic life.

Energized by the culture of yoga and climbing, our prAna brand offers apparel, accessories and equipment products for consumers defining their own kind of movement.

Across our diverse portfolio of brands, our products have gained recognition for their innovation, quality, value, and performance.

1 unchanged sentence

Our apparel, accessories and equipment products are designed to be used for all seasons, activities and locations.

Our footwear products include durable, lightweight hiking boots, trail running shoes, rugged cold weather boots for activities on snow and ice, sandals and shoes for use in water activities, and function-first fashion footwear and casual shoes for lifestyle wear.

SEASONALITY AND VARIABILITY OF BUSINESS

4 unchanged sentences

We distinguish our products in the marketplace by placing significant value in the design and fit, including the overall appearance and image, and technical performance features of our products.

Our team of specialists leads both our internal research and development efforts and works closely with independent suppliers to conceive, develop and commercialize innovative technologies and products to provide the unique performance benefits desired by consumers.

COLUMBIA SPORTSWEAR COMPANY | 2023 FORM 10-K | 1

utilize our working relationships with specialists in the fields of chemistry, biochemistry, engineering, industrial design, materials research, graphic design, and other related fields, along with consumer insights and feedback, to develop and test innovative performance products, processes, packaging, and displays.

We utilize our working relationships with specialists in the fields of chemistry, biochemistry, engineering, industrial design, materials research, graphic design, and other related fields, along with consumer insights and feedback, to develop and test innovative performance products, processes, packaging, and displays.

These efforts, coupled with our drive for continuous improvement, represent key factors in the ongoing success of our products.

2 unchanged sentences

therefore, we do not own, operate or manage manufacturing facilities.

The majority of our products are produced by contract manufacturers located outside the United States.

We establish and maintain long-term relationships with key manufacturing partners, but generally do not maintain formal long-term manufacturing volume commitments.

The use of contract manufacturers maximizes our flexibility and improves our product pricing.

The majority of our finished goods are produced by contract manufacturers located outside the United States.

We establish and maintain long-term relationships with key finished good manufacturing partners, but generally do not maintain formal long-term manufacturing volume commitments.

The use of contract manufacturers for our finished goods maximizes our flexibility and improves our product pricing.

We value legal, ethical and fair treatment of people involved in manufacturing our products.

1 unchanged sentence

We have programs in place to monitor manufacturer practices and assess alignment against these standards.

We maintain seven manufacturing liaison offices in six Asia Pacific countries.

We maintain eight manufacturing liaison offices in seven Asia Pacific countries.

Our personnel in these offices monitor production at our contract manufacturers' facilities to ensure our products are manufactured to our specifications.

In 2022, our apparel, accessories and equipment products for our wholesale customers and DTC businesses were manufactured into finished goods in 14 countries.

In 2023, our apparel, accessories and equipment products for our wholesale and direct-to-consumer ("DTC") businesses were manufactured into finished goods in 15 countries.

In 2023, finished goods manufacturers in Vietnam, Bangladesh, Indonesia, and India produced approximately 40%, 20%, 15% and 10%, respectively, of these products.

Five of the largest contract finished goods manufacturers account for approximately 30% of our apparel, accessories and equipment production, with the largest manufacturer accounting for approximately 10%.

In 2022, our footwear products for our wholesale customer and DTC businesses were manufactured into finished goods in six countries.

In 2023, our footwear products for our wholesale and DTC businesses were manufactured into finished goods in five countries.

In 2023, finished goods manufacturers in Vietnam and China produced approximately 75% and 20%, respectively, of these products.

Five of the largest contract finished goods manufacturers account for approximately 65% of our footwear production, with the largest manufacturer accounting for approximately 20% and two manufacturers accounting for approximately 15% each.

Five of the largest contract finished goods manufacturers account for approximately 75% of our footwear production, with the two largest manufacturers accounting for approximately 20% each and three manufacturers accounting for approximately 15%, 10% and 10% individually.

Raw materials for the finished goods manufacturing of our apparel, accessories, equipment, and footwear products are primarily sourced from Asia and are purchased directly by our contract manufacturers.

In addition, our trademark licensees directly contract for the manufacture of their products.

Our portfolio of brands enables us to target a wide range of consumers with differentiated products.

4 unchanged sentences

We operate branded e-commerce and marketing sites and maintain an active presence on a variety of global social media platforms.

We authorize and encourage our international distributors to connect with consumers by operating e-commerce and marketing sites and maintaining a presence on social media platforms.

We also authorize and encourage our international distributors to connect with consumers by operating e-commerce and marketing sites and maintaining a presence on social media platforms.

Digital marketing and social media engagement increase our ability to build strong emotional connections with consumers through consistent, brand-enhancing content.

2 unchanged sentences

SALES AND DISTRIBUTION

We sell our products in approximately 90 countries and operate in four geographic segments:

We sell our products in more than 100 countries and operate in four geographic segments:

United States ("U.S."), Latin America and Asia Pacific ("LAAP"), Europe, Middle East and Africa ("EMEA"), and Canada.

2 unchanged sentences

We sell our products through a mix of distribution channels.

Our wholesale distribution channel consists of small, independently operated specialty outdoor and sporting goods stores, regional, national and international sporting goods chains, large regional, national and international department store chains, internet retailers, and international distributors where we generally do not have our own direct operations.

Our direct-to-consumer ("DTC") distribution channel consists of our own network of branded and outlet retail stores, brand-specific e-commerce sites, and concession or franchise based arrangements with third-parties at branded, outlet and shop-in-shop retail locations in the LAAP and EMEA regions.

In addition, we earn revenue through licensing certain of our trademarks across a range of apparel, accessories, equipment, footwear, and home products.

Our wholesale distribution channel consists of small, independently operated specialty outdoor and sporting goods stores, regional, national and international sporting goods chains, large regional, national and international department store chains, internet retailers, international distributors where we generally do not have our own direct operations, and certain other retailers.

Our DTC distribution channel consists of our own network of branded and outlet retail stores, brand-specific e-commerce sites, and concession or franchise based arrangements with third-parties at branded, outlet and shop-in-shop retail locations in the LAAP and EMEA regions.

In addition, we earn revenue through licensing certain of our trademarks across a range of apparel, accessories, equipment, and home products.

is our largest segment and provides apparel, accessories and equipment products through our Columbia, Mountain Hardwear, and prAna brands and footwear products through our Columbia and SOREL brands.

1 unchanged sentence

wholesale and DTC businesses.

We have nearly 2,000 wholesale customers in the U.S.

In 2022, our three largest U.S.

We have over 1,850 wholesale customers in the U.S.

In 2023, our four largest U.S.

wholesale customers accounted for approximately 20% of U.S.

net sales, and were less than 10% individually.

As of December 31, 2022, we directly operated 156 retail stores.

As of December 31, 2023, we directly operated 161 retail stores and 34 temporary clearance locations.

We distribute the majority of our U.S.

products from distribution centers that we own and operate in Portland, Oregon and Robards, Kentucky, as well as through third-party logistics companies that operate distribution centers in Louisville, Kentucky and other facilities located near United States ports.

products from distribution centers that we own and operate in Portland, Oregon and Robards, Kentucky, as well as through third-party logistics companies that operate distribution centers in Cincinnati, Ohio and Louisville, Kentucky and other facilities located near United States ports.

We also arrange to have products directly shipped from contract manufacturers to wholesale customer-designated facilities in the United States.

3 unchanged sentences

In 2023, our four largest LAAP wholesale customers accounted for approximately 15% of LAAP net sales, and were less than 10% individually.

As of December 31, 2022, we directly operated 257 retail stores, and maintained 31 concession and 62 franchise based arrangements with third-parties.

As of December 31, 2023, we directly operated 248 retail stores, and third-parties operated 27 concession and 47 franchise based stores.

We distribute LAAP products through third-party logistics companies that operate distribution centers near Tokyo, Seoul, and Shanghai for our Japan, Korea and China businesses, respectively.

2 unchanged sentences

These products are sold by our Europe-direct and EMEA distributor businesses.

We have nearly 3,550 wholesale customers, including distributors, in EMEA.

In 2022, our largest EMEA wholesale customer accounted for approximately 12% of EMEA net sales.

As of December 31, 2022, we directly operated 25 retail stores and maintained 23 concession-based arrangements with third-parties.

We distribute the majority of EMEA products from a distribution center that we own and operate in France for our Europe-direct business.

We have over 3,400 wholesale customers, including distributors, in EMEA.

In 2023, our three largest EMEA wholesale customers accounted for approximately 15% of EMEA net sales, and were less than 10% individually.

As of December 31, 2023, we directly operated 31 retail stores and third-parties operated 23 concession-based stores.

We distribute the majority of EMEA products from a distribution center that we own and operate in France for our Europe-direct business, as well as through third-party logistics companies that operate facilities located near receiving ports.

The vast majority of our products sold to EMEA distributors are shipped directly to the distributors from the contract manufacturers from which we source our products.

1 unchanged sentence

These products are sold by our Canada wholesale and DTC businesses.

We have over 550 wholesale customers in Canada.

We have nearly 550 wholesale customers in Canada.

In 2023, our two largest Canada wholesale customers accounted for approximately 25% of Canada net sales, and were approximately 15% and 10% individually.

1 unchanged sentence

COLUMBIA SPORTSWEAR COMPANY | 2023 FORM 10-K | 3

We distribute the majority of Canada products from a distribution center that we own and operate in the province of Ontario in Canada.

We distribute the majority of Canada products from a distribution center that we own and operate in the province of Ontario in Canada, as well as through third-party logistics companies that operate facilities located near receiving ports.

See Part II, Item 7 and Item 8 in this Annual Report on Form 10-K for further discussion regarding our reportable segments.

7 unchanged sentences

The markets for outdoor, active and lifestyle apparel, footwear, accessories, and equipment products are highly competitive and we face significant competition from numerous companies.

Our competition includes large companies with significant financial, marketing and operational resources, small companies with limited resources but deep entrenchment in their local markets, and other branded competitors.

We also face competition from our wholesale customers who, under their own private brand names, produce and distribute similar products to our target consumers through their own retail stores and e-commerce businesses.

9 unchanged sentences

Each of our four brands focuses on impacts that are unique to their positioning within this strategy.

Detailed information regarding our (and our brands’) corporate responsibility priorities and progress can be found in our latest "Environmental, Social and Governance Report" at http://columbia.com/corporate-responsibility.

Detailed information regarding our (and our brands’) corporate responsibility priorities and progress can be found in our latest "Impact Report:

Environmental, Social, Governance" at http://columbia.com/corporate-responsibility.

The content of such report is not incorporated by reference.

COLUMBIA SPORTSWEAR COMPANY | 2023 FORM 10-K | 4

HUMAN CAPITAL

1 unchanged sentence

As part of these efforts, we strive to offer a competitive compensation and benefits program and promote employee well-being.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 4

As of December 31, 2023, our employee workforce of approximately 10,070 employees consisted of approximately 5,770 full-time and part-time retail employees, 1,150 distribution center employees and 3,150 corporate and/or office employees.

From December 31, 2021 to December 31, 2022, we had an overall employee turnover rate of approximately 62%, impacted by approximately 89% and 85% turnover rates in our distribution and retail employee base, respectively.

From December 31, 2022 to December 31, 2023, we had an overall employee turnover rate of approximately 57%, impacted by approximately 80% and 66% turnover rates in our retail and distribution employee base, respectively.

Approximately 29% of our workforce was located outside of the United States as of December 31, 2023.

14 unchanged sentences

physical health, career, social and emotional health, financial, and community.

For more information on our efforts to support our workforce, see our "Environmental, Social and Governance Report" at http://columbia.com/corporate-responsibility.

For more information on our efforts to support our workforce, see our "Impact Report:

Environmental, Social, Governance" at http://columbia.com/corporate-responsibility.

The content of such report is not incorporated by reference.

AVAILABLE INFORMATION

We make available free of charge on or through the investor relations section on our website at http://investor.columbia.com/sec-filings our proxy statements, annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we file these materials with the Securities and Exchange Commission ("SEC").

The content on any website referred to in this Annual Report on Form 10-K is not incorporated by reference in this annual report unless expressly noted.

The content contained on or accessible through any website referred to in this Annual Report on Form 10-K, including those mentioned above, is not incorporated by reference in this annual report unless expressly noted.

COLUMBIA SPORTSWEAR COMPANY | 2023 FORM 10-K | 5

9 unchanged sentences

Skip Potter 53 Executive Vice President, Chief Digital Information Officer

Tim Sheerin 58 Senior Vice President, Global Wholesale

Swanson 49 Executive Vice President, Chief Financial Officer

Craig Zanon 63 Senior Vice President, Emerging Brands

Craig Zanon 64 Executive Vice President, Emerging Brands, EMEA and Asia Direct

Boyle joined the Company in 1971 as General Manager, served as the Company's President from 1988 to 2015 and reassumed the role in 2017.

27 unchanged sentences

Potter held various leadership positions, including Chief Technology Officer and Managing Vice President of Engineering with Nike, Inc., as well as Vice President of Technology Innovation with Capital One, and CIO/CTO for British Telecommunication's Enterprise Group.

Tim Sheerin joined the Company in January 2021 as Senior Vice President, US Wholesale Sales.

He was promoted to Senior Vice President, Global Wholesale in October 2021.

Prior to joining the Company, Mr.

Sheerin held various leadership positions at Nike, Inc., including Vice President, North America Sales, Vice President of Global Sales, Nike Sportswear and Managing Director/General Manager of Nike Korea.

COLUMBIA SPORTSWEAR COMPANY | 2022 FORM 10-K | 6

Swanson joined the Company in 2003 and has served in numerous roles of increasing responsibility during his tenure, being named Vice President of Finance in 2015 and promoted to Senior Vice President, Chief Financial Officer in 2017 and to Executive Vice President and Chief Financial Officer in 2020.

1 unchanged sentence

Swanson served in a variety of financial planning and analysis, tax, and accounting roles, including senior financial analyst at Freightliner Corporation and at Tality Corporation, and as a senior tax and business advisory associate at Arthur Andersen.

Craig Zanon joined the Company in 2021 as Senior Vice President, Emerging Brands.

COLUMBIA SPORTSWEAR COMPANY | 2023 FORM 10-K | 6

Craig Zanon joined the Company in 2021 as Senior Vice President, Emerging Brands and was elevated to Executive Vice President, Emerging Brands, EMEA and Asia Direct in February 2024.

Prior to joining the Company, Mr.

3 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business