135 annotations
Page 6 of 7
We are now forecasting leverage of 100 to 130 basis points versus 2021, driven predominantly by increased sales. And when looking at adjusted operating margin for the full year 2022, we expect it to be approximately flat to up slightly versus last year.
(No comment added)
Transcript
2022 Q2
2 Sep 22
gross margin to decrease between 100 to 130 basis points versus 2021
(No comment added)
Transcript
2022 Q2
2 Sep 22
driven predominantly by increased investment in our DC network, and a more normalized level of markdowns relative to the low levels we experienced last year, while still below 2019 levels.
(No comment added)
Transcript
2022 Q2
2 Sep 22
Europe, where our momentum is also strong, revenue increased 20% and 22% on a one and three-year CAGR basis
(No comment added)
Transcript
2022 Q2
2 Sep 22
In China, after a slower start to the year given COVID-19-related closures and capacity constraints, we have seen a rebound in the region. Revenue grew over 30% versus last year, and we saw a nearly 70% increase on a three-year CAGR basis.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we are not seeing any meaningful variation in cohort behavior or the metrics we track in this area of the business.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we have not changed our promotional cadence or markdown strategy and we have no plans to do so.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we are not creating this traffic through markdowns or price promotions.
(No comment added)
Transcript
2022 Q2
2 Sep 22
Traffic across channels remains robust with store traffic up over 30% and e-commerce traffic increasing over 40%.
(No comment added)
Transcript
2022 Q2
2 Sep 22
Traffic was incredibly strong with stores up 30%, e-com up 40
(No comment added)
Transcript
2022 Q2
2 Sep 22
We're in a better inventory position relative to last year, which is also helping to drive our top line strength.
(No comment added)
Transcript
2022 Q2
2 Sep 22
Barcelona and Madrid are gearing up to open shortly, and we expect Spain to be a strong market for us going forward.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we likely left guest demand on the table last year as we were under inventory due to supply chain issues
(No comment added)
Transcript
2022 Q2
2 Sep 22
we're starting to experience earlier deliveries, both vendor readiness and then also lead times.
(No comment added)
Transcript
2022 Q2
2 Sep 22
higher usage of airfreight impacting our AUC
(No comment added)
Transcript
2022 Q2
2 Sep 22
air freight represents a big opportunity for us over the longer term, still 280 basis points above 2019 levels.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we guided to 10 basis points under last year in air freight versus the 30 basis points higher
(No comment added)
Transcript
2022 Q2
2 Sep 22
It still sits 280 basis points above 2019. But we'll continue to see that moderate through the second half of the year,
(No comment added)
Transcript
2022 Q2
2 Sep 22
in terms of airfreight, yes, we've started to see it moderate.
(No comment added)
Transcript
2022 Q2
2 Sep 22
we are starting to see higher on-time deliveries from our vendors as well as some shorter lead times.
(No comment added)
Transcript
2022 Q2
2 Sep 22