198 annotations
we're very early in our growth there
(No comment added)
Transcript
2025 Q2
30 Aug 24
it is still a small size relative to the market with a store base of 132 on the Mainland
(No comment added)
Transcript
2025 Q2
30 Aug 24
it won't be until spring 2025 to get back to the historic levels of newness
(No comment added)
Transcript
2025 Q2
30 Aug 24
24% CAGR over the last 5 years, from '18 to '23, to $10 billion in revenue.
(No comment added)
Transcript
2025 Q2
30 Aug 24
in terms of Q2, our May trend relatively in line with what we experienced in Q1 and then a softer business performance in June and July, with July being slightly above June.
(No comment added)
Transcript
2025 Q2
30 Aug 24
we came in with inventory down 14%.
(No comment added)
Transcript
2025 Q2
30 Aug 24
committed to our Power of Three x2 plan, which had North America low double-digit growth
(No comment added)
Transcript
2025 Q2
30 Aug 24
We expect gross margin in Q3 to decrease 50 to 60 basis points relative to Q3 2023.
(No comment added)
Transcript
2025 Q2
30 Aug 24
For the fiscal year 2024, we now expect diluted earnings per share in the range of $13.95 to $14.15 versus adjusted EPS of $12.77 in 2023.
(No comment added)
Transcript
2025 Q2
30 Aug 24
The gross profit rate in Q2 increased 80 basis points, significantly better than our guidance
(No comment added)
Transcript
2025 Q2
30 Aug 24
by category, men's revenue increased 11% versus last year and women's increased 6%, while accessories grew 7%.
(No comment added)
Transcript
2025 Q2
30 Aug 24
comparable sales declined [ 2% ];
(No comment added)
Transcript
2025 Q2
30 Aug 24
optimistic we can accelerate growth in our U.S. women's business while continuing to deliver strong performance in men's and international.
(No comment added)
Transcript
2025 Q2
30 Aug 24
Using our revised guidance for this year, our 3-year revenue growth CAGR from '21 through '24 is 19%, ahead of the 15% CAGR we laid out in our plan
(No comment added)
Transcript
2025 Q2
30 Aug 24
we are committed to delivering on our Power of Three x2 target of doubling revenue from $6.25 billion in '21 to $12.5 billion in '26.
(No comment added)
Transcript
2025 Q2
30 Aug 24
We plan for our penetration of newness to improve in the second half of 2024, and we expect to be back to our historical levels of newness as we start 2025.
(No comment added)
Transcript
2025 Q2
30 Aug 24
For quarter 3 and the full year, excluding the 53rd week, we expect revenue growth of 6% to 7%, relatively in line with quarter 2 performance.
Our full year revenue guidance acknowledges the uncertainty around the shorter holiday shopping season and the U.S. election in quarter 4.
(No comment added)
Transcript
2025 Q2
30 Aug 24
men's, the business remains robust, and we continue to gain market share
(No comment added)
Transcript
2025 Q2
30 Aug 24
over the upcoming quarters and return to our historical levels of newness no later than spring 2025.
(No comment added)
Transcript
2025 Q2
30 Aug 24
the most significant factor was a product plan that introduced less newness across core and seasonal styles.
(No comment added)
Transcript
2025 Q2
30 Aug 24