Rising costs related to elevated inventory levels sent net income down 31% in the first quarter to $46,202,000 from $66,837,000 despite 8% top line growth to $820,593,000, up from $761,510,000, boosted by pulled forward Columbia, Mountain Hardwear and prAna wholesale orders. Wholesale grew 11% to $452.5 million and DTC increased 4% to $368.1 million, including an 8% improvement from brick-and-mortar, while the DTC e-commerce business inched down 1%.

Apparel, accessories and equipment sales grew 14% to $632.6 million, but footwear dipped 4% to $188.0 million, with both Columbia footwear and Sorel down ... Log in to view full article.