David K. Jones
Thank you, Peter.
segment. women's the with start Let's
and in As six was XX% the ended respectively. for months the segment expected, revenue June XX and down three women's XX%
and our to of for these relationships. new We're businesses discussed, of the our working DTR previously of Danskin, principally the brands direct-to-retail impact to offset the As transitions. build the decline or result OP, Mossimo DTRs was transition
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to As that fashion Peter exceeded results. mentioned, segment this Since Target women's meaningful our in agreement with are to its and distribution at report part our expectations. men's performance is and year, coming launch Umbro we of success Target. shape has the month provide is Men's multiyear apparel in this launching is our in the happy inventory from February of
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portion this timing be our that decline should due it is a business. Charisma noted However, in of to
business As such, in in we second a the Charisma the expect pickup half.
and touted and utility. are recently Overall of Fieldcrest at Fieldcrest in for continues months Target, XX% XXXX with as half to and the up was in up sales year-to-date Best and Charisma. for brand back sheets, into towel is an X% were retail be year-over-year gaining exclusively growth the we've and XXXX bath, the retail In seven of in on bath, of Business year expanded sales fact, which programs available first Target. introduction, at new the Insider by utility, Towel bedding, our the important momentum the strength
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that category, have a We new year. of end major providing bath, product home into with will textiles the a the licensee at expanded also begin
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anchored is leading for Boxer negotiated Umbro quarter, also for our first recently Peru Cooper. Latin over with In from categories a World Future Cooper one the the quarter discussed, business driven by license licensee, previously new benefited Group, several signed signed India International renewals with China, across is partner growth qualifying six X,XXX Cooper long-term for years and by with in Lee retailer expectations Cup. a East, also brands, the significant brand who apparel in men's second new Umbro the deal a China. collaboration and Lee As a in powerful Europe. license all for Middle GXG, In The bringing team long-term together we key Lee Joe ahead. America, key our in the Umbro Umbro-sponsored We've footwear with with locations. XX-year for secured geographies
have we five-year business second platform and in Southeast territories risks, a Ignoring remainder Mossimo include from four-year apparel, expect new extended has quarter which footwear highlights Ed And and several Ed been accessories, continue adding perform in while for currency across in in we the Mossimo renewal the footwear, well the Hardy U.K., year. across Hardy preparation translation Philippines, include a of International the signed for already Additional for to Italy in the to apparel rollout Spain. new the for Footwear license Asia. to of very and
in of X% quarter second Our to SG&A increase were compared the expenses a $XX.X the million, $XX.X quarter XXXX. second million in
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previously announced savings aligning to We expense $XX cost structure it annual obtain our to approximately rightsizing and our plans current business. are million on savings track of appropriately with through the
trademarks, of on one-time quarter terminating months of items, settlements, our costs the a on deconsolidation litigation and six includes Our income ventures. associated number joint for statement with and gains including of licensees, of one gain sales the
issued items. and details release earnings all Our today reconciliations related has to such
treat noted end the during was we in of to operations the sheet, as part It should $XX.X at be had quarter, to $XX.X to second which balance we million the and due million new of unrestricted. U.S. cash quarter, foreign Turning U.S. the of of the tax the U.S. in that branches the elected laws, on hand all
As cash a result, tax be utilize we U.S. will with the generation to consequences. foreign able minimal in
facility million at approximately at average in weighted $XXX securitization interest million to million have relates of XXXX to has Our matures quarter. $XXX end a rate of from declined the outstanding, $XX second the January our million, debt Of the balances approximately $XXX X.X% and which end $XXX.X XXXX. million the of
represent the in notes of otherwise payment mature stock. those the $XXX that be paid be XXXX. million notes, Our should will on due X.XX% interest in is first which January These will converted, convertible approximately balance. unless notes, It August noted XX,
Finally, of total, X% loan the LIBOR our bears at approximately senior in term matures plus $XXX and secured million represents XXXX. interest
until are We through covenants related service XXXX. within facility, in XX% restricted residual and that ratio current ratio debt decrease increases. show with be royalty to coverage in collections financial a of securitization in to three-year indebtedness our compliance projections our Due compliance currently our to us are the
Such XXXX, is to we to cash during by and cash of working our assumed XXXX. changes. We $XX also but the cash could year. flow flow free by return restriction to operating for of reconciliation six flow in forecasting has a all many included months that Free ratio to normal driven full financial release. earnings expect Through expect we activities cash generated XXXX, XXX% restriction including provided the of million the in to to our factors, to $XX.X press continue Company are cash been A free $XX capital of projections. million level is generate million in currently that increase approximately
goodwill As income detailed our to previous press earnings and GAAP trademark our due have we release impairment. today, net the in guidance revised
at of guidance. now our guidance, open the call end net the income we're We'd free revenue full-year be currently our lower to full-year maintaining anticipating non-GAAP to are and cash We and flow for up questions. like
