Columbia Sportswear Co.’s stock dropped more than 10% in the extended session Thursday after the apparel maker called for a “challenging” year ahead as retailers remain cautious about placing orders and a warm U.S. winter has hampered sales. Columbia’s COLM, +3.55% fourth-quarter sales fell 9% to $1.06 billion, which compared with FactSet consensus for $1.08 billion. The company also missed profit expectations for the quarter.The maker of outdoor apparel, footwear and other products said that retailers “are ...