At Extreme Investor Network, we bring you exclusive insights into the world of finance and investing. Today, we dive into a recent interview with Columbia Sportswear CEO Tim Boyle on CNBC’s Jim Cramer show.
Boyle discussed the company’s latest quarterly results, highlighting a decline in U.S. sales. He explained that this quarter is typically the smallest of the year for Columbia Sportswear, which means any issues can be adjusted and accelerated. Boyle mentioned that the ongoing election can create turbulence in the market, but the company is fortunate to have strong growth in other parts of the world.
Despite the 15% year-over-year decline in U.S. sales, primarily driven by decreases in wholesale, Boyle remains positive about the company’s future. He emphasized the strong demand for products in countries like China, hinting at the potential for significant growth in the Chinese market.
Boyle also mentioned that Columbia’s brands experiencing declines in this quarter, such as SOREL and PrAna, are on track for growth. He highlighted the company’s effort to manage excess inventories and focus on profitable growth across all brands.
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