Columbia Sportswear, despite making strides in its ongoing inventory reduction program and improving its quarterly gross margin by 70 basis points to 48.7%, reported a 7% decline in Q3 net income to $103.5 million from $111.8 million. Total sales increase 3% to $985.7 million from $955.0 million on strength in the international direct markets of Europe, China, and Canada. Period-end inventory was down by 16% year-over-year to $885.2 million and it is forecast to be down by $200 million or more at FY end.

Simultaneous with the results, COLM dropped its full-year ... Log in to view full article.