Fri. 26 Apr 2024, 6:21am ET
Benzinga
Earnings, News, Guidance
For the second quarter of fiscal 2024, the Company expects approximately:
- $560 million to $570 million in net sales ($600 million in Q2 fiscal 2023);
- $25 million to $30 million in adjusted operating income ($38 million in Q2 fiscal 2023); and
- $0.35 to $0.45 in adjusted diluted earnings per share ($0.64 in Q2 fiscal 2023).
Our forecast for the second quarter of fiscal 2024 assumes:
- Continued inflationary pressure on families with young children;
- Slow start to Spring selling, we believe due to the late arrival of warmer weather;
- Improved gross margin;
- Comparable SG&A;
- Lower net interest expense and effective tax rate; and
- Continued return of capital.