Net income slipped 8% in the first quarter to $42,300,000 from $46,202,000 on 6% lower revenues of $769,982,000 compared to $820,593,000 as falling wholesale orders more than offset growth in direct-to-consumer. Weak spring demand from retailers sent wholesale down 14% to $390.9 million, but DTC grew by 3% to $379.1 million. Brick-and-mortar sales at COLM’s own stores improved by 9%, helped by clearance activity to move excess inventory, while e-commerce declined 7%.

Apparel, accessories and equipment sales dipped just 2% to $619.0 million, powered by outerwear as cold weather hit early in ... Log in to view full article.