Needham initiated coverage of Columbia Sportswear (COLM) with a Hold rating and no price target While the outdoor industry has “compelling” long-term growth characteristics, and the company’s “fortress” balance sheet is a positive, the near-term macro environment is “too choppy for us to get constructive at this time,” the analyst tells investors in a research note. The firm believes Columbia’s wholesale partners may tighten up second half of 2025 inventory buys due to nervousness around the macro. The company’s value-priced positioning may pressure them more than other outdoor peers, if inflation becomes an issue again later this year, adds Needham.
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