“This is a big step for us,” said Brendan Candon, Co-founder and CEO of SidelineSwap. “This partnership started with our commitment to make it easy for anyone to sell their used sports equipment. We’ve spent the last 5+ years building the best online resale marketplace in sports, and now we’re expanding the business to power resale wherever athletes shop or play through our trade-in platform.”

The resale marketplace landscape is rapidly evolving. Customer adoption of secondhand buying and selling continues to outpace retail growth, and is expected to grow 127% by 2026 according to ThredUp’s 2022 Resale Report. With 3 in 4 consumers reporting that they shopped or were open to shopping secondhand in the past 12 months, it’s clear resale is going mainstream. The increased adoption, led by millennials and Gen Z, is driving brands and retailers to incorporate resale into their shopping experiences. Recently many brands and retailers, including Lululemon, Ikea, and Allbirds, have introduced circular shopping experiences powered by resale partners.

By introducing the SidelineSwap Trade-in Platform, which will include pop-up events, in-store and online trade-in options for brands and retailers, and a suite of tools for resellers in the SidelineSwap community to power their own trade-in experiences, SidelineSwap is building what is likely the next generation of resale marketplaces. The Trade-in Platform is powered by SidelineSwap’s best-in-class marketplace technology and proprietary resale data. The hybrid model, which includes peer-to-peer and first party sales, gives sellers the option to choose whatever works best for them – direct resale or instant trade-in value. Together, this ensures sporting goods customers can always find the biggest and best selection of gear at the best prices on the marketplace.

In some cases customers may even find listings on a partner’s branded marketplace, which SidelineSwap also recently introduced.

“Our trade-in experiences are a true win-win-win,” said Doug Smith, VP of Partnerships at SidelineSwap. “Customers earn great value on their used equipment with hardly any work, retailer partners increase sales and foot traffic while embracing sustainability, and SidelineSwap will have an even better selection of deals. We’re just getting started on a much bigger vision for resale in sports and beyond.”

Founded in 2015, SidelineSwap is the world’s largest online marketplace for sporting goods.

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“New York continues to be a priority market for Wilson as we expand our retail footprint,” says Gordon Devin, President & General Manager, Wilson Brand. “From permanent retail locations to pop-ups, we will celebrate athletes of all levels and offer them the best of Wilson, ranging from premium products to curated experiences.”

The Upper East Side store, located at 1517 3rd Avenue, will feature Wilson’s first-ever “Equipment Room,” where shoppers can rent select product to playtest before purchasing. Customers will be able to leverage this unique program for sporting goods needs across baseball, softball, tennis, pickleball, basketball, football, volleyball and more. Rental fees range from $5-$10 per day based on product, and all rental fees will be taken off the final price if purchased.

The new store will offer a curated assortment of best-in-class equipment across a variety of sport categories including the official basketballs of the NBA and WNBA, the Duke – the official ball of the NFL, A2000 gloves, leading tennis rackets like the Pro Staff and Clash, D9 Irons and more. The store will also house Wilson’s athletic-lifestyle sportswear collection, available for both men and women. In-store services such as a full-time racket stringing maestro, ball glove personalization, club fittings and a golf simulator will also be available for consumers to enjoy. Regular store hours are 10 a.m. – 7 p.m. Monday through Saturday and 11 a.m. – 7 p.m. on Sunday.

To further expand their New York presence, Wilson will be opening a third NYC store in Columbus Circle next month, as well as pop-ups in key locations throughout the summer. Additionally, Wilson will debut their annual pop-up at the US Open, where Wilson has been the official ball and racket stringer for over 40 years.

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The mission of Sportsman’s Warehouse is to provide outstanding gear and exceptional service to inspire outdoor memories. With stores staffed by knowledgeable associates that don’t rely on commissions or high-pressure sales tactics, Sportsman’s Warehouse will now expand that hyper-personalized experience to its digital channels. Kibo Personalization enables Sportsman’s Warehouse to deliver compelling and tailored experiences across touchpoints. Some of the other reasons why Sportsman’s Warehouse selected Kibo include:

• True Partnership: Kibo Personalization, along with a deeply experienced services team, enables Sportsman’s to develop a Personalization Center of Excellence.
• Data Democratization: Kibo Personalization enables Sportsman’s to ingest relevant customer data to test, target and personalize across digital channels more effectively.
• Leading Recommendations: Kibo Personalization, powered by Monetate and Certona, uses powerful machine learning, while still providing merchandisers the control to easily launch, test and iterate new recommendations in minutes.

“At Sportsman’s Warehouse, omnichannel growth is at the center of our key strategic focus,” said Jared Tanner, VP Marketing & Ecommerce, Sportsman’s Warehouse. “We are excited to partner with Kibo to help provide our customers with a more personalized e-commerce experience. We believe Kibo Personalization will bring the technology and experience needed to expand our testing, recommendations and personalization capabilities.”

“We are excited to welcome Sportsman’s Warehouse to the Kibo family,” said Vinesh Vis, Chief Sales Officer, Kibo. “As the leading personalization vendor to the top 1000 retailers, Kibo Personalization helps enable our customers to deliver more compelling and personalized omnichannel experiences. We look forward to partnering with Sportman’s to expand its omnichannel vision to deliver a more compelling digital experience.”

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Founded in 1989, Eigerindo is one of the largest apparel, footwear and accessories companies in Indonesia. Based in Bandung, the retailer is known for its commitment to providing high-quality products that are designed to push the boundaries of exploration. With its store count increasing fivefold in less than a decade, Eigerindo now operates more than 250 stores in Indonesia and has a vibrant online presence.

As Eigerindo advances on its growth trajectory, modern technology solutions are playing a strategic role in its ability to scale its operations while keeping customer satisfaction as its No. 1 priority.  

“With Aptos PLM, we are bringing greater levels of efficiency and automation to every step of the product lifecycle, enabling us to deliver new, on-trend collections to our customers even faster,” said Agnes Lukito, Product General Manager at Eigerindo MPI. “By bringing together all aspects of creative design, collection development and sourcing on a cloud technology platform, we’ve reduced production times and costs while increasing speed and productivity.   

“With the tool, we also have the ability to track the quality of orders from our suppliers, which is extremely important to us,” Agnes added. “As we manage large volumes of supplies, we need to ensure that orders received are compliant with our standards. With the objective to minimize waste and promote sustainable practices, Aptos PLM helps ensure we are producing only those items that meet our strict requirements and are best positioned to reach the shelf.”  

According to Christian H. Sarsono, Deputy CEO at Eigerindo MPI, “The deployment of Aptos PLM represents a giant leap forward for all our teams that are involved in the development of collections. The system offers one version of the truth, advanced functionality that was a best match to our needs and a user interface that is highly intuitive, promoting user adoption from day one. We are extremely satisfied with our implementation of Aptos PLM.”  

Following the successful adoption of Aptos PLM, Eigerindo’s technology modernization journey will next focus on Aptos’ Assortment Planning solution.   

Once deployed, Aptos Assortment Planning will enable Eigerindo to align its product offerings with the needs of its customers, markets, channels and locations, delivering optimal business results and an elevated experience for its customers.  

“Aptos’ PLM and Assortment Planning solutions can be seamlessly integrated, allowing retailers such as Eigerindo to tightly align creativity and planning from the earliest stages of the ideation process,” said Zaki Hassan, Aptos’ general manager for Asia-Pacific.  

“The cloud-based deployment of Aptos PLM and Assortment Planning gives Eigerindo the digital tools they need to bring their brands to life in complete alignment with the company’s business goals,” Hassan added. “Eigerindo is at the forefront of retail innovation in Indonesia, and we are extremely proud to partner with this visionary and adventure-inspired retailer.”

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“We are excited to introduce our premium brand direct retail model providing an immersive Wilson experience through innovative products, constant inspiration to play and sport-specific staff expertise,” says Gordon Devin, President of Wilson Sportswear. “New York is a priority market for Wilson as we continue to expand our retail footprint globally.”

The 6,400 square foot retail space reimagines the traditional sports store offering an expansive product assortment from all sports categories across Wilson’s portfolio. The store introduces the Thomas E. Wilson Park, a unique indoor atrium space built to inspire play.

The flagship location will offer a curated assortment of best-in-class equipment across a variety of sport categories including the official basketballs of the NBA and WNBA, the Duke – the official ball of the NFL, A2000 gloves, leading tennis rackets like the Pro Staff and Clash, D9 Irons and more. The store will also house Wilson’s athletic-lifestyle sportswear collection, available for both men and women exclusively at Wilson retail stores and on wilson.com. In-store services such as a full-time racket stringing maestro, leather ball customization, a golf simulator and glove personalization will be available for consumers to enjoy.

Named after Wilson’s founder, the Thomas E. Wilson indoor park will provide for endless play, allowing consumers to be at the center of their favorite sport. The gaming space can be transformed to hit tennis balls, demo clubs, play catch, shoot hoops and test out any product the store has to offer. To further celebrate New York City, the atrium also features a graffiti mural by local NYC artist, Greg Lamarche. The mural and space commemorate Wilson’s history in sport and love for the city of New York.

Wilson opened its first brick-and-mortar store in its hometown of Chicago in July 2021 and a NYC pop-up store in September 2021. The brand has also executed dynamic pop-up shops at sporting events such as Super Bowl, College World Series and the US Open for decades. Wilson will continue its direct-to-consumer expansion opening stores in Los Angeles and Shanghai in the coming year.

The Wilson NYC Flagship is located at 594 Broadway. 

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By leveraging all that Square’s ecosystem has to offer, SoFi Stadium is creating a multifaceted and dynamic approach to the game-day commerce experience that will delight and engage fans from pregame through overtime. As a fully cashless venue, SoFi Stadium selected Square’s ecosystem of products and services to power commerce and contactless payments across every checkout and purchase point, spanning hundreds of concession stands, bars, roving hawkers, and merchandise retail stores. Square’s integrated POS software and hardware enable fast, reliable, and convenient transactions and create safe, streamlined payment experiences for fans, including fast check-out speeds and reduced lines.

“SoFi Stadium is a world-class facility and the largest stadium in the NFL. Maintaining that level of service requires selecting technology partners who can match that scale,” said SoFi Stadium and Hollywood Park Chief Technology Officer Skarpi Hedinsson. “Square is at the forefront of innovation across payment and transactions and shares our passion for incredible customer service. As a cashless venue, our partnership will offer fast, reliable and secure contactless payments for guests that helps to create a safe and streamlined experience at SoFi Stadium.”

Here’s how SoFi Stadium uses Square’s powerful ecosystem of services to create compelling, omnichannel commerce experiences across the venue:

• Commerce and Operations Software: Integrated Square software solutions including Point of Sale and Team Management offer rich data and sales insights in real-time, enabling stadium managers to better understand trends. This includes information like top-selling items and busiest purchasing times for all concessions, bars, and hawkers, which empowers the stadium to make smart decisions, on the fly, to optimize staffing, inventory, and promotions. Square for Retail powers merchandise locations with business analytics features like inventory and sales reports to maximize revenue opportunities throughout each game or event, while Square Team Management supports the employee experience, enabling quick and easy access to Square’s POS, with unique permission sets that ensure enterprise-scale access controls throughout the system. Both are simple to learn and use, which makes hiring and training large stadium staffs easy for operators.
• Square Hardware: The stadium uses more than 1,000 Square Register and Square Terminal units to power sales throughout the NFL’s largest venue. With separate seller- and buyer-facing displays, Square Register enables smoother, faster payment experiences for employees and fans alike. Additionally, Square Terminal’s handheld, all-in-one payment processing capabilities enable stadium hawkers to take card and contactless payments directly at fans’ seats. All hardware devices are completely integrated and allow the stadium to flexibly power special food and merchandise pop-ups at any location, for any type of event. Square Register and Square Terminal enable fans to pay in any way they prefer, including contactless transactions through tap credit cards or mobile wallets on smartphones and smartwatches, with payment transactions covered by Square’s best-of-breed PCI compliance, privacy protection, and security.
• API Integrations: Square’s APIs enable operators to integrate Square into any front-end fan experience or back-end data system, working seamlessly with any technology vision or enterprise architecture. For example, SoFi Stadium is leveraging Square’s Catalog API to manage inventory and product availability and inform mobile application and digital signage of menus at each concession stand. SoFi Stadium is also enlisting Square’s Orders API to transmit order details from Square POS directly to the kitchen, and Square’s Payments API to provide further business analytics.

Square’s platform also integrates with SoFi Stadium’s best-in-class partners for mobile application development, inventory management, kitchen display systems (KDS), and digital signage for a complete tech-advanced stadium. All in all, Square’s platform enables powerful system integrations between back-end and front-end user experiences across in-person, mobile, and online.

“Square’s integrated products and platform enable sellers of all sizes to run their businesses, and as a proud partner of SoFi Stadium – the biggest and most advanced stadium in the country – we’re eager to continue to show what’s possible for stadiums and retail districts,” said Ashley Grech, Global Head of Sales at Square. “Fan experience, fan safety, and long-term fan engagement will remain top of mind for every sports and entertainment venue for many seasons to come. Square’s continued commitment to providing seamless, reliable, and safe contactless commerce, as well as the data insights operators need to optimize their sales, makes us ideally suited to help organizations modernize and future-proof their operations.”

“SoFi Stadium is the most technologically advanced venue in the world, and we’re committed to keep it that way, which means we only wanted to work with partners who are thought leaders and committed to pushing the envelope with innovation,” said Denise Taylor, President, Global Technology Solutions for Legends Entertainment. “With Square, we were really excited about their commitment to continuous improvement and forward thinking development of their platform. Square is able to help us scale into the future, as the guest experience continues to evolve and we look to offer more mobile commerce solutions. We want fans to be able to enjoy a seamless guest engagement in a secure manner, and Square is the partner that enables SoFi Stadium to do that and change the way we all think about sports technology.”

Along with powering operations and payments for SoFi Stadium, Square is also the exclusive Point of Sale and Merchant Services partner for Hollywood Park and YouTube Theater. This expansive agreement showcases Square’s ability and flexibility to build out stadiums and their surrounding districts and create first-class consumer commerce experiences. Partnering with SoFi Stadium and Hollywood Park builds upon Square’s prior expertise powering experiential commerce for venues and organizations, including the Washington Nationals, Ogden Raptors, Speedway Motorsports, the Indianapolis Motor Speedway, and more.

SoFi Stadium and Hollywood Park partnered with Legends, a premium experiences company, in securing this partnership. In addition to operating SoFi Stadium Tours, Legends has been engaged throughout SoFi Stadium on hospitality, premium sales, retail, partnerships and naming rights, technology solutions, and project development.

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“Over the past two years Nick has been an integral part of the Lids turnaround. Nick’s leadership has transformed our Finance, HR, and Loss Prevention teams into offensive assets that have helped drive Lids into one of the strongest retailers in North America,” said Tom Ripley, Lids Chairman & CEO. “We are thrilled to see Nick take the next step in his career and to leverage his abilities across Lids and our multiple growth initiatives.”

Since his return to Lids eight years ago, Corthier’s role has included the divestiture of Lids from Genesco during the Ames Watson acquisition in 2019, implementation of Microsoft D365 Finance, Commerce and Operations, and leading the transition of Lids finance to a more operational function of the business. Corthier has also played a key role in the brand’s financial and treasury health throughout the COVID-19 pandemic and its widespread effect on the retail community.

“I have been very fortunate throughout my career at Lids to have influential mentors, hardworking team members, and motivating peers. The atmosphere and culture at Lids are unparalleled,” says Corthier. “We are focused on continuing to grow our business with a team I’m incredibly proud to be a part of.”

In this new role, Corthier will lead long range forecasting and analysis of company results on key business decisions. In addition to overseeing all financial reporting, treasury, loss prevention, IT, and human resources, Corthier will be actively involved with store operations, real estate, marketing, and buying and merchandising on key business activities.

Lids is the largest headwear retailer in North America, with over 28 million sold per year across their 1,200 locations. Beyond hats, Lids is the largest brick and mortar retailer of licensed sports product in North America and has a fast-growing non-sports branded business. The announcement of Corthier’s promotion follows a breakout year for Lids that saw the company add 70 stores during the COVID pandemic, cement an international expansion agreement with the NBA, and enter into a long-term commercial agreement with Barnes & Noble Education.

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Chairman, President and Chief Executive Officer Tim Boyle commented, “Our focus remains on the health and safety of our employees, their families, our customers and our communities. I’m proud of the strength and resilience of our global employees, whose dedication, focus and responsiveness are vital to successfully navigating this unprecedented global health and economic crisis. First quarter results largely reflect the impact of the COVID-19 pandemic, which escalated throughout the quarter as the global effort to contain the pandemic unfolded. It is important to note that we entered into this crisis in a position of strength, with a fortress balance sheet and top quartile operating margin performance in our industry in 2019. As consumers look to make every dollar they spend count within this challenging economic environment, we believe the Columbia brand’s differentiated innovation and exceptional value are as important as ever.

“It is impossible to predict when this crisis will pass, but we have weathered many storms during Columbia’s long history, which spans more than 80 years, and I am confident that we will get through this one as well. We have quickly taken steps to enhance liquidity, preserve capital, contain costs and manage inventory to mitigate the financial impact of the pandemic, and we are keenly focused on emerging in a stronger competitive position.

“Our long-term commitment to driving sustainable and profitable growth has not changed and our strategic priorities remain to:

• drive brand awareness and sales growth through increased, focused demand creation investments;
• enhance consumer experience and digital capabilities in all our channels and geographies;
• expand and improve global direct-to-consumer operations with supporting processes and systems; and
• invest in our people and optimize our organization across our portfolio of brands.”

CFO’s Commentary Available Online

For a detailed review of the Company’s first quarter 2020 financial results and additional updates relating to the COVID-19 pandemic, please refer to the CFO Commentary exhibit furnished to the Securities and Exchange Commission (the “SEC”) on Form 8-K and published on the Investor Relations section of the Company’s website at http://investor.columbia.com/results.cfm at approximately 4:15 p.m. ET today. Analysts and investors are encouraged to review this commentary prior to participating in our conference call.

COVID-19 Update

In first quarter 2020, lower consumer demand related to the COVID-19 pandemic began to impact financial performance in China in late January, Korea and Japan in early February and North America and Europe in March. Retail traffic trends declined across North America and Europe in early March, prior to store closures which began in mid-March. In light of the current and anticipated environment, the Company has taken several actions to mitigate the financial impacts of the COVID-19 pandemic including financial liquidity enhancements, capital preservation actions including suspending dividends and share repurchases, cost containment measures and actions to manage inventory. Please reference the CFO Commentary exhibit for a detailed review of COVID-19 pandemic related issues impacting the Company and key actions taken up to the date of this release.

First Quarter 2020 Financial Results
(All comparisons are between first quarter 2020 and first quarter 2019, unless otherwise noted.)

Net sales decreased 13 percent to $568.2 million, from $654.6 million for the comparable period in 2019.

Gross margin contracted 360 basis points to 47.8 percent of net sales from 51.4 percent of net sales for the comparable period in 2019.

SG&A expenses increased 10 percent to $276.8 million, or 48.7 percent of net sales, from $251.8 million, or 38.5 percent of net sales, for the comparable period in 2019.

Loss from operations of $(2.0) million, or (0.3) percent of net sales, compared to operating income of $88.0 million, or 13.4 percent of net sales, for the comparable period in 2019. First quarter 2020 loss from operations include a $21.5 million year-over-year increase in bad debt expense and a $9.2 million year-over-year increase in inventory obsolescence provisions.

Net income decreased 100 percent to $0.2 million, or $0.00 per diluted share, from $74.2 million, or $1.07 per diluted share, for the comparable period in 2019.

Balance Sheet as of March 31, 2020

Cash, cash equivalents and short-term investments totaled $706.9 million, compared to $703.1 million at March 31, 2019.

Short-term borrowings totaled $174.4 million. There were no short-term borrowings at March 31, 2019.

Inventories increased 11 percent to $577.1 million, compared to $520.6 million at March 31, 2019.

Share Repurchases for the Three Months Ended March 31, 2020

The Company repurchased 1,557,184 shares of common stock for an aggregate of $132.9 million, or an average price per share of $85.34, under a previously established written plan.

At March 31, 2020, $82.2 million remained available under the current stock repurchase authorization. As part of a broader capital preservation effort during the ongoing COVID-19 pandemic, the Company has suspended share repurchases.

Quarterly Cash Dividend

As part of a broader capital preservation effort during the ongoing COVID-19 pandemic, subsequent to payment of the dividend declared and paid earlier in the first quarter of 2020, the Company’s Board of Directors suspended future quarterly cash dividends.

Conference Call

The Company will hold its first quarter 2020 conference call at 5:00 p.m. ET today. Dial (877) 407-9205 to participate. The call will also be webcast live on the Investor Relations section of the Company’s website at http://investor.columbia.com.

Second Quarter 2020 Reporting Date

Columbia Sportswear Company plans to report second quarter 2020 financial results on Thursday, July 30, 2020 at approximately 4:00 p.m. ET.

Supplemental Financial Information

Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in United States dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value over time compared to the United States dollar. To supplement financial information reported in accordance with GAAP, the Company discloses constant-currency net sales information, which is a non-GAAP financial measure, to provide a framework to assess how the business performed excluding the effects of changes in the exchange rates used to translate net sales generated in foreign currencies into United States dollars. The Company calculates constant-currency net sales by translating net sales in foreign currencies for the current period into United States dollars at the average exchange rates that were in effect during the comparable period of the prior year. Management believes that this non-GAAP financial measure reflects an additional and useful way of viewing an aspect of our operations that, when viewed in conjunction with our GAAP results, provides a more comprehensive understanding of our business and operations. In particular, investors may find the non-GAAP financial measure useful by reviewing our net sales results without the volatility in foreign currency exchange rates. This non-GAAP financial measure also facilitates management’s internal comparisons to our historical net sales results and comparisons to competitors’ net sales results.

The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the “Reconciliation of GAAP to Non-GAAP Financial Measures” table included herein. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the Company’s expectations, anticipations or beliefs about the future and its ability to weather the COVID-19 crisis. Forward-looking statements often use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” “may” and other words and terms of similar meaning or reference future dates. The Company’s expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis; however, each forward-looking statement involves a number of risks and uncertainties, including those set forth in this document, those described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and those that have been or may be described in other reports filed by the Company, including reports on Form 8-K. Potential risks and uncertainties include those relating to the spread of COVID-19, the severity of the disease, the duration of the COVID-19 pandemic, actions that may be taken by governmental authorities to contain the pandemic or to treat its impact, and economic slowdowns that have and may continue to result from the pandemic. The Company cautions that forward-looking statements are inherently less reliable than historical information. The Company does not undertake any duty to update any of the forward-looking statements after the date of this document to conform them to actual results or to reflect changes in events, circumstances or its expectations. New factors emerge from time to time and it is not possible for the Company to predict or assess the effects of all such factors or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.

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Consumers seeking the products of the Columbia family of brands are encouraged to visit the respective brand e-commerce sites at: www.columbia.com, www.sorel.com, www.mountainhardwear.com, and www.prana.com.

“The health and safety of our employees, consumers and the communities where we live and work is paramount to us,” said Tim Boyle, Chair, President and CEO of Columbia Sportswear. “During this temporary closure we are also offering catastrophic paid leave to our employees most affected by this virus in an effort to live our values of Doing the Right Thing for our employees, consumers and communities.”

In addition to the North America store closures, Columbia has taken many steps to carry out the health and safety advice from health authorities around the world. These steps have included store closures in select markets outside of North America, enhanced cleaning protocols in all locations, implementation of work from home plans to reduce health risks, facilitation of sick leave to encourage and enable employees to stay home and avoid the risk of spreading illness to others, and travel restrictions to limit potential transmission of COVID-19.

Columbia’s administrative facilities remain open to provide customer support with the least amount of disruption possible. As Columbia continues to monitor this complex and rapidly evolving situation, Columbia’s plans may change.

“Columbia has been in business since 1938 and weathered many storms by keeping its focus on the well-being of its employees, consumers and the larger community,” said Tim Boyle.

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