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Page 4 of 10
Consistent with what we've seen from others in the market, the consumer environment in the United States has been somewhat challenging.
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2024 Q4
7 Apr 24
very strong continued double-digit growth in international and then on North America, high single digits
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2024 Q3
4 Jan 24
When looking at adjusted operating margin for the full year 2023, we now expect it to increase approximately 70 basis points versus last year.
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2024 Q3
27 Dec 23
we're up 70 basis points -- our guide of 70 basis points above 2022 on an annual basis
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2024 Q3
27 Dec 23
We expect gross margin in Q4 to increase 90 to 120 basis points relative to Q4 of 2022.
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2024 Q3
27 Dec 23
This will be driven by lower freight expense and regional mix
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2024 Q3
27 Dec 23
In Q4, we expect our SG&A rate to deleverage by 160 to 190 basis points relative to Q4 2022. This deleverage continues to reflect our strategic decision to invest in growth initiatives, including those to grow brand awareness globally. When looking at operating margin for Q4, we expect approximately 70 basis points of contraction relative to last year.
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2024 Q3
27 Dec 23
Over the last 5 years, we have repurchased approximately $2 billion worth of our shares.
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2024 Q3
27 Dec 23
SG&A for the full year. We now forecast deleverage of 120 to 140 basis points versus 2022
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2024 Q3
26 Dec 23
Foreign exchange, both translation and revaluation, contributed 30 basis points of leverage in the quarter.
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2024 Q3
26 Dec 23
SG&A expenses were $843 million or 38.2% of net revenue compared to 36.8% of net revenue for the same period last year.
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2024 Q3
26 Dec 23
w
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2024 Q3
26 Dec 23
We still have about 20 basis points above 2019 levels.
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2024 Q3
26 Dec 23
e've largely recovered the air freight spend
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2024 Q3
26 Dec 23
For the full year, we continue to forecast adjusted gross margin to increase between 190 to 210 basis points versus 2022. The expansion relative to last year is driven predominantly by lower air freight expense.
For the full year, we now expect airfreight to be down approximately 220 basis points versus 2022. When looking at markdowns for the full year, we continue to expect them to be relatively in line with last year in 2019.
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2024 Q3
26 Dec 23
We also saw 10 basis points of unfavorable impact from foreign exchange.
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2024 Q3
26 Dec 23
The adjusted gross profit rate in Q3 increased 220 basis points versus last year and was driven primarily by the following: a 250 basis point increase in overall product margin driven primarily by lower freight costs as well as lower air freight usage. Fixed costs deleveraged 20 basis points in the quarter.
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2024 Q3
26 Dec 23
driven by lower freight costs and lower markdowns
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10-Q
2023 Q3
7 Dec 23
partially offset by higher markdowns and higher inventory provisions and damages
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10-Q
2023 Q3
7 Dec 23
traffic was also strong across both channels with stores up over 30% and e-comm up approximately 30%
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2023 Q1
12 Jul 23