COLM Stock Forecast & Price Target

Columbia Sportswear is positioned for a constructive turnaround because 1Q26 showed resilient fundamentals, with revenue of $779 million, adjusted EPS of $0.65, and operating margin of 5.4% all beating expectations despite tariff pressure. Its gross margin held up at 50.7% as pricing actions and other mitigation efforts offset a roughly 310 bps tariff headwind, while inventory stayed flat at $624 million and the company ended with $535 million in cash and no debt, underscoring financial flexibility. The outlook is further supported by improving Fall ’26 order trends, stronger product momentum from Amaze and ROC lines, growth across all four brands and international markets, and a shareholder-friendly capital allocation approach that included over $200 million of buybacks and about $66 million in dividends in 2025.

Columbia Sportswear is facing a negative outlook because core brand performance remains under pressure, with Columbia brand sales down 2% CC, SOREL down 14% CC, and prAna down 5% CC, suggesting the turnaround in its flagship and specialty labels is not yet broad-based. Weakness is still concentrated in the U.S., where sales fell 10% CC as intentional inventory reductions and a lighter Spring order book weighed on wholesale and DTC channels, which declined 3% CC and 2% CC, respectively. Although EMEA rose 21% CC and LAAP and Canada grew modestly, management’s warnings about higher consumer prices hurting demand, plus tariff and trade uncertainty, reinforce downside risk if the brand refresh fails to deliver.