68 annotations
We expect our full year gross margin rate to remain significantly above pre-pandemic levels, though approximately 130 basis points below record levels in 2021, which includes the negative impact of exchange of approximately 30 basis points.
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2022 Q3
14 Dec 22
In North America, revenue in the third quarter was up 10% overall for Tommy Hilfiger and Calvin Klein
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2022 Q3
14 Dec 22
We have significantly better in-stock levels versus last year
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2022 Q3
14 Dec 22
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2022 Q3
14 Dec 22
we are reaffirming the top end of our projected revenue guidance, up 4% on a constant currency basis and our EBIT margin outlook of approximately 9%, and we are raising our full year EPS projection to $8.25
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2022 Q3
13 Dec 22
this was worth about 65 million of the increase in inventory versus the prior year
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2022 Q3
13 Dec 22
inventory levels remain elevated in North America wholesale due to lower than expected demand
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2022 Q3
13 Dec 22
we have begun to see improvements in on-time delivery and decreases in in-transit times
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2022 Q3
13 Dec 22
we have increased our inventory investment in core products to mitigate supply chain and logistics disruptions and ensure that we have the right product at the right tim
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2022 Q3
13 Dec 22
we are normalizing to levels that support our plan to growth
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2022 Q3
13 Dec 22
inventory levels were abnormally low last year
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2022 Q3
13 Dec 22
Inventory was up 32% at the end of the quarter compared to the prior year period due to a combination of factors.
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2022 Q3
13 Dec 22
we improved inventory levels
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2022 Q3
13 Dec 22
in Q3 was that we were able to navigate through most of the supply chain issues
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2022 Q3
13 Dec 22
we do expect that higher level of promotional environment to continue through the fourth quarter we saw at the end, but we get the lift there from a much heavier DTC retail focus quarter
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2022 Q3
13 Dec 22
For the fourth quarter, we are projecting mid single digit revenue growth in our underlying business. On a reported basis, revenue is projected to be down approximately 4% as compared to 2021 and reflects an 8% negative impact from exchange and a 2% negative impact from the war in Ukraine. Fourth quarter earnings per share is expected to be approximately $1.65, which reflects the negative impacts of approximately $0.27 due to exchange and approximately $0.15 from the war in Ukraine compared to the prior year.
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2022 Q3
13 Dec 22
For the full year 2022, we are raising our projected earnings per share to be approximately $8.25 compared to our previous guidance of $8.00. The increase versus our previous guidance is primarily due to our strong Q3 performance.
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2022 Q3
13 Dec 22
Our full year operating margin projection continues to be approximately 9% and reflects a negative impact compared to last year of approximately 40 basis points due to exchange.
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2022 Q3
13 Dec 22
we expect gross margin in the fourth quarter will reflect a similar year-over-year decline versus what we reported for the third quarter, as we offset the negative impact of the increasingly promotional environment by driving our higher margin direct-to-consumer channel as a greater share of the business versus last year
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2022 Q3
13 Dec 22
We continue to expect pressure on our gross margin for the remainder of the year due to promotional selling.
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2022 Q3
13 Dec 22