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At least half of this 360 basis point inflationary headwind is expected to be offset by less discounting and promotional activity
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2022 Q4
18 Apr 23
360 basis points of deleverage due to inflationary cost headwinds as we are now selling product locked in at last year's peak cotton prices
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2022 Q4
18 Apr 23
we expect significant year-over-year improvement compared to the 31.5% gross margin in the first quarter last year
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2022 Q4
18 Apr 23
sales to be down in the mid-single-digit range year-over-year for the quarter
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2022 Q4
18 Apr 23
We just won't have that glut of markdown inventory.
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2022 Q4
18 Apr 23
we'll still have a good value proposition for the lower-income consumer
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2022 Q4
18 Apr 23
we did not have enough newness in fourth quarter, which really muted some of the performance because we had so much markdown carryover that we had to get through
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2022 Q4
18 Apr 23
gives us the
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2022 Q4
18 Apr 23
well-positioned liability inventory heading into the quarter
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2022 Q4
18 Apr 23
opportunity to pull back on the discounting and markdowns
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2022 Q4
18 Apr 23
once we were able to get holiday receipts down and start clearing through the inventory at markdowns, we were able to bring in spring and really see the business rebound
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2022 Q4
18 Apr 23
we actually saw our December sales take a dip unlike what I think other competitors have said, because we had cut holiday receipts, and we were carrying a lot of fall inventory
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2022 Q4
18 Apr 23
his will benefit working capital as we buy lower receipts and sell through the pack and hold inventory.
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2022 Q4
18 Apr 23
we will continue to integrate the inventory that was placed in pack and hold in fiscal 2022 into future assortments.
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2022 Q4
18 Apr 23
We are planning for inventory to be down more than sales in fiscal 2023 as compared to the prior.
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2022 Q4
18 Apr 23
we did see strong volume in October slow a bit in the end and a little bit of a slow start to November
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2022 Q3
18 Dec 22
Adjusted operating margin of 3.9% was 40 basis points lower than last year's adjusted rate, reflecting the elevated promotional activity and higher inflationary costs, offset by the air freight leverage and the SG&A leverage relative to last year.
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2022 Q3
18 Nov 22
we anticipate that total company sales in the fourth quarter could be down mid-single digits year-over-year
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2022 Q3
18 Nov 22
As we look to sales in the fourth quarter, we continue to take a prudent approach, given the uncertain macro and consumer environment, as well as the competitive promotional environment.
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2022 Q3
18 Nov 22
fiscal 2023, we continue to moderate buys
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2022 Q3
18 Nov 22