Shares of Columbia Sportswear were down around 8% in after-hours trading on Tuesday after the company reported a 3% drop in 2024 sales.

On a call with stock analysts, CEO Tim Boyle said the company expects sales will rebound this year. The company is forecasting between 1% and 3% sales growth.

Like its Washington County neighbor Nike, Columbia has been stalled in the United States, its biggest sales territory. Columbia’s sales fell 8% in the U.S. in 2024, but the decrease moderated in the fourth quarter, falling only 1%.

For the year, Columbia had $3.4 billion in sales.

Boyle noted several areas of progress, including reduced inventory. The company also continues to have a “fortress balance sheet,” a favorite term of Boyle’s, which reflects Columbia’s lack of debt.

Boyle said Columbia expects to ramp up marketing efforts in the second half of the year as several new products come to market, including jackets, pants and footwear.

“I am confident that we have the right strategies in place,” he said.

Boyle and Columbia executives have been somewhat outspoken about tariffs, but the company Tuesday sidestepped any commentary about the Trump administration’s increased import taxes on goods from China — which went into effect the same day — except to say they’ve been factored into forecasts.