joining Vice Miller, are thank Executive today Relations. us. Vice Goldfarb, you, me morning, our Operating Chief President Financial our and Good Chairman our Officer; Officer; Neal Jeff Priya of Vice for Investor and President Chief With Trivedi, Nackman, our President; and Aaron, Sammy Wayne
Let’s of results our second review quarter. the
line by offset wholesale in bottom-line were results our retail than in in own which were business led operations. offset our Our more and continued which expectations – was with than our outperformance more heightened challenges
up sales net were to X% $XXX quarter Second million.
$XXX million. Our second to net X% wholesale quarter increased sales
in net income year’s quarter non-GAAP share $X.XX, to Our diluted last second was compared second quarter. per $X.XX
stores, will Bass some decrease approximately stores, of the and have you a XXX our XX% over our By XXX Wilsons which end from over me retail year, details own stores. on down represents provide we operations. with eliminated this Let
engaged finding in advisors remainder solution process. outside In aggressive to we July, of our being the us assist own this retail operations. with are for We a
is Lagerfeld in low-single-digit where comps volume tourist stores DKNY positive reduced which traffic for centers, Our these located. stores high despite are quarter reflected the Karl sales many own of and the
and eliminating For stores store our the we a as half to and of swiftly efficiently year, result DKNY Lagerfeld Karl as of at and benefits the as operations second product remain as the losses in possible. design. We retail own committed anticipate performance improved
to I’d like to sourcing Before operations wholesale update with tariffs. our on get an we you business, and provide our
proficiency vendor For strong relationships. many emphasized global years, our we’ve our capabilities our sourcing and in
Our always priced products strength to competitively deliver great and been on time. has quality that’s delivered
we’ve regardless and factory believe historically vendors As our of moved essential new We overseen we’ve who’ve country expertise developments. are of the globally, oversight management consistent shifted production origin. longstanding with that
we ago, estimate years grown Four sourced this our be that down about in overall has our China we spite production from than the fact in production year. will business of to less XX% China, XX% of dramatically,
knowing right comfort significant the opportunities additional that with over of we’ve with several believe right years. importantly, We partners. done countries sourcing are next outside China so the in Most the the we we have of
Now address tariffs. let me
balances strategically continue I Chinese last in the as from the tariffs of quarter be met inventory which is inventory in our our with our to vendors over of have just extremely who past reflected suppliers risk compared implemented accelerated we of the months, sharing six As largest supportive recently receipts several year. higher the increased today. tariff to cost second
minimize well financial as fiscal year. results Our support the our obtain this of receipts, accelerate as for to inventory on ability to tariffs vendor impact are expected
appropriate. our price in to alternatives uncertain, we wholesale where obtaining of Looking we and expect vendor China increases selective while ahead be effect the China of to and partners mitigate our the next deem negotiations implementing the price between impact from concessions of to able continued sourcing remains tariffs further expansion tariffs year, U.S. and through trade
Klein, and pleased very had our report growth. women’s another off Calvin wholesale Our am one resources the our of apparel the also our dominant of business of strong a to the as result with is largest Jeans I new remains CK quarter to the in license start. markets of the business solid that results. key PVH women’s partnership of driver extension a
Our partnership is granted. PVH new for we fact do the not with take to with opportunities. that provide We they continue something appreciate us
and can substantial for that has will The women’s garnered Jeans newly grow this CK lifestyle will believe book. Jeans in begin years. $XXX holiday sales next several CK a we over strong the developed season. product generated annual Shipments build line a significant order initial We business to million interest that
to our We continue base products our develop diversification of increase the to classification businesses.
developed year, denim the internal to company. we significant Over the for strategy a make last an classification
the of expansion space. future will the in and jeans, of we DKNY Tommy very of important CK a launch jeans the resource denim become collection our With launch the jeans,
in performance dresses, brands our as world’s These such what other recognized classifications This with dominate most denim category. outerwear initiatives enable suits. and of will is exactly some the us accomplished the we’ve women’s to
greater quarter our Moving continued second growth the business in broad our the sales Hilfiger The brand based. last to strength Tommy year. product on to XX% and growth reflect than again with this to compared quarter of business, performance was the once second
to wider We continue extensions multiple create ways product appeal consumers. to find to line the to
expanded Sportswear for distribution For this business, Dillard's example, Hilfiger Nordstrom's our to within fall. the Tommy and we’ve
the We Tommy by in Hilfiger business. developments jeans are new the excited
new as XXXX, spring specialty more potential also the better for area the younger well fits as believe has in a with is We and softer, jeans are washes, created Jeans sold and Tommy be be significant stores Jeans, to a growth and to this multiple line will us. appeal customers. in which housed a that completely we’ve tops in Featuring stores. area designed to collection casual For department to Tommy jeans be
integral business. of design, strong execution Hilfiger continued part Our Tommy merchandizing, selling an sourcing of teams’ and the are success expertise our in and
and a Additionally, with PVH’s have appeal. expertise brand Hilfiger marketing reaching compelling brand management global Tommy capabilities made powerful far
lifestyle we North American more Karl expanding a had as and positioned appeal in this We’ve quarter we to the good introduced continue brand traction the business of experience Lagerfeld elevated Paris Lagerfeld Karl the status, brand casual a brand to to well incorporate element. markets. with an Our that as building
creative honor Karl a Shirt been the The shirt. Karl, farfetch.com of with will going sales Lagerfeld’s brand designers to of version legacy, fashion exclusively tribute charity. shirts proceeds To sold and to is karl.com friends iconic Actors, White to on all create Project. the of white Karl invited design have his launching and models, of a line be
another than XX% DKNY greater Our brands Karan last second own year’s quarter Donna quarter. strong registered to growth compared with sales
good making distribution. international progress are our with We
Spain Corte El largest Europe’s now department one Inglés, We and are and shops stores. operating our of in Portugal own
to DKNY, G-III’s the continue newly and looking brand’s Overall we from forward headquarters. square legacy XX,XXX and create their for are efficient highly synergies office square modern building to space space to foot teams foot as within same designed a moving the XXX,XXX
an in front, singer, New global York On first to of sport are City, the and as success Halsey Halsey megastar elevate a song brand. her year’s ambassador the roots a as momentum endless brand DKNY artist this the is DKNY making building marketing XXX% feature year’s we campaign, DKNY for the last a upon campaign and with with a match global writer ideal digital excited power to talents
media, The media outdoor major million media also the with strong fall include followers campaign in extensive print over world. a cities placements will digital, all presence has social ad and XX fans Halsey and platforms. throughout across social
Halsey. during include Additionally, will DKNY Fashion of next a activities New XXth celebrate by in the Party Monday, Birthday heart to performance host York will its Week, Brooklyn The the anniversary.
to another great be to great through way brand. is opportunity driver the continues Licensing profit an presence It for additional introduction product our of expand global important and lifestyle a the categories.
apparel we was also since world-class partner DKNY XXXX. XXXX. been long-term a quarter, the January will from global into past license HanesBrands DKNY’s sleepwear entered Komar, for Komar This transition exclusive in license with intimate partner
business, home Capitalizing to furniture for of pure on license Group, play forward Living company signed looking furniture a agreement success this and with DKNY’s continued are leading launch w also fall. our a Style online DKNY
book, these to XX% be fiscal and the DKNY’s sales the this of approximately brands’ all net for growth and are initiatives now This anticipating wholesale strength order we year.
of management, brand. product successful have set many and development DNKY capabilities growth the the years meaningful for Our stage distribution for
travel and brand sales mid-single-digit to of Vilebrequin resort continues perform with the Lastly, tourist comp swimwear headwinds, spite in our increases. status well global
continue footprint. to expand brand’s the We
This stores in stores pop-up as opened including and Macau four Capri, as we Las two quarter well Vegas, Rome Paris. and
very Also highly Louis the launched this anticipated who by director gained The quarter, press. sold global and artistic Abloh Virgil significant quickly collaboration a brand collaboration the Off-White, also out Vuitton menswear. designed with fashion for is
the to will creative We ways of iconic awareness find to brand. continue expand status this
showcased and our show sales our continue well gain this see for brands market well and are represented products as focus online to We as be as partners’ to retail opportunity an and a us. our that share Corporate-wise, websites, own. on
to invest personnel in continue the online and in space. will systems We
discussion a I’ll now quarter fiscal pass detailed results and for the for our guidance it XXXX. for our on to Neal second
