Outdoor apparel and gear brand Mountain Hardwear posted sales of $29.2 million for the third quarter ended Sept. 30, down 9% compared to the same period last year.
The decline was driven by lower fall 2023 wholesale shipments, and was partially offset by DTC growth, said Tim Boyle, CEO of parent company Columbia Sportswear, on a conference call with investors.
The 30-year-old Mountain Hardwear brand is in the middle of a “comprehensive brand refresh,” Boyle said.
Earlier this month, Troy Sicotte, president of Mountain Hardwear, and Matt Burbach, global vice president of marketing, explained to The Daily how the company poured the extra revenue it generated during the COVID-19 pandemic back into rebranding, creating a new marketing campaign that positions it as a premium, youthful outdoor brand.
Mountain Hardwear redesigned and enhanced its website to help “bring the brand’s unique identity to life,” Boyle added. It also released its Heritage Collection to “celebrate” its most “iconic” styles.
“These products pay homage to the brand’s early style, updated with today’s fit and fabric technology,” Boyle said.
Mountain Hardwear also launched a collaboration with streetwear brand Stussy, which featured several co-branded products, including jackets, trousers, and beanies, as well as sleeping bags.
“The collection quickly sold out and immediately boosted traffic to Mountain Hardwear’s website,” Boyle said.
For the first nine months of 2023, Mountain Hardwear recorded $73.1 million in net sales, down 4% from the same period last year in reported currency.
For 2022, Mountain Hardwear had $109.5 million in revenue, a 3% increase year-over-year in reported currency. That was on top of a 33% revenue increase in 2021, according to Columbia Sportswear’s financial documents.
Parent company Columbia Sportswear reported a 3% increase in sales for the third quarter of 2023, but reduced its full-year guidance based on inventory challenges, retailer caution, and looming product regulations.