Published:
Columbia Sportswear Company Announces Reduction in U.S. Workforce

Columbia Sportswear Company (NASDAQ: COLM), a
global leader in the active outdoor apparel and footwear industries, today
announced a reduction in force that will affect approximately 75, or 4
percent, of its 1,800 U.S. employees.
Tim Boyle, Columbia's president and chief executive officer, commented, "We
believe Columbia Sportswear has tremendous long-term growth opportunities.
However, our recently announced 11 percent decline in orders for spring
2009 and our expectation that U.S. market conditions will remain
challenging through 2009, make it necessary for us to better align our
planned spending with those realities. We have approached this decision
thoughtfully to ensure that we are able to continue investing in our
expanding retail store platform and increased marketing. Although
difficult, we believe these actions will ultimately strengthen the company
and position us well for when the economy recovers."
About Columbia Sportswear
Founded in 1938 in Portland, Oregon, Columbia Sportswear Company is a
global leader in the design, sourcing, marketing and distribution of active
outdoor apparel and footwear. As one of the largest outerwear manufacturers
in the world and a leading seller of skiwear in the United States, the
company has developed an international reputation for quality, performance,
functionality and value. The company manages a portfolio of outdoor brands
including Columbia Sportswear, Mountain Hardwear, Sorel, Montrail and
Pacific Trail. To learn more about Columbia, please visit the company's
website at www.columbia.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the federal securities laws, including statements regarding anticipated
duration of current macro-economic conditions and the company's
expectations for improved financial performance when those conditions
improve. Actual results could differ materially from those projected in
these and other forward-looking statements. 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 described in the
company's Annual Report on Form 10-K for the year ended December 31, 2007
and the company's most recently filed Quarterly Report on Form 10-Q, under
the heading "Risk Factors," and other risks and uncertainties that have
been or may be described from time to time in other reports filed by the
company, including reports on Form 8-K, Form 10-Q and Form 10-K. The
company cautions that forward-looking statements are inherently less
reliable than historical information. We do not undertake any duty to
update any of the forward-looking statements after the date of this release
to conform them to actual results or to reflect changes in events,
circumstances or our expectations. New factors emerge from time to time
and it is not possible for the company to predict all such factors, nor can
it assess the impact of each such factor 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.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily News
Tags: ,Lifestyle and Leisure:Recreation, ManufacturingandProduction:Textiles, Retail:Apparel, Sports:EquipmentandAccessories, ,NASDAQ01,NASDAQ01,OR,PORTLAND, OR
_ _Is your favorite bookmark site missing?
Ask for it.