Columbia Sportswear announced on Tuesday net sales decreased 3 percent to $3.37 billion in 2024, compared to 2023, despite a strong fourth quarter. 

The Portland, Oregon-based company said net sales for the fourth quarter ended December 31, 2024, increased 3 percent to $1.1 billion, compared to fourth quarter 2023.

The increase was led by the Europe, Middle East and Africa and Latin America, Asia Pacific regions, partially offset by the United States, while sales in Canada were flat year-over-year.

By brand, Columbia sales increased 6 percent to $945 million, with Sorel down 16 percent to $97 million. Smaller brands PraNa and Mountain Hardwear fell 2 percent and increased by 5 percent, respectively.

Net income increased 10 percent to $102.6 million, or $1.80 per diluted share, compared to net income of $93.3 million, or $1.55 per diluted share, for the comparable period in 2023.

“I’m encouraged that sales returned to growth in the fourth quarter, and we expect continued growth in 2025, across most brands and regions,” said chairman, president and chief executive officer Tim Boyle.

“During the year we made substantial progress on our inventory reduction efforts, achieved cost savings through our Profit Improvement Program, and returned meaningful cash to shareholders through share buybacks and dividends. We also laid the foundation for Columbia’s Accelerate Growth Strategy, which will come to life in the seasons ahead.”

Looking ahead to 2025, net sales are expected to increase by 1 to 3 percent, ranging from $3.40 to $3.47 billion. Diluted earnings per share is expected to be $3.80 to $4.15, compared to $3.82 in 2024.