The Asia segment's net revenues increased by 9.8% YoY, reflecting the Company's strategic focus on expanding its presence in the region. This growth was driven by both retail and wholesale businesses in Asia.

The Company's Fiscal 2021 Strategic Realignment Plan, aimed at reducing its global workforce and consolidating operations, has been completed. This plan has resulted in cost savings, contributing to improved financial performance.

The Company is in the early stages of executing a large-scale multi-year global project that is expected to significantly transform the way in which we operate our business and further enable our long-term strategic pivot toward a global direct-to-consumer-oriented model

The Company's ability to effectively manage inventory levels contributed to the improvement in gross margin. This was achieved through a more normalized receipt cadence and strategic sourcing decisions.

Jane Nielsen, Chief Operating Officer and Chief Financial Officer, will no longer serve as Chief Financial Officer effective as of May 23, 2024, and will continue in her role as Chief Operating Officer through March 29, 2025, on which date she will depart from the Company. Justin Picicci was appointed as Chief Financial Officer, effective May 23, 2024.

The Board of Directors continues to demonstrate confidence in the Company's financial position by authorizing stock repurchases and increasing the quarterly cash dividend. This indicates a commitment to returning value to shareholders.

The 10-K filing highlights the risk that economic and political conditions may adversely affect consumer spending on discretionary items, including the Company's products. This includes factors such as inflation, interest rates, and geopolitical instability.

The Company acknowledges the risk of supply chain disruptions, including those caused by capacity constraints, labor shortages, and scrutiny of goods produced in certain territories. Import restrictions and trade regulations could also negatively affect operations.

The Company recognizes the ongoing threat of cybersecurity breaches and data security incidents, which could damage its reputation, disrupt operations, and expose it to litigation risk.

The company faces strong competition in the fashion and consumer product industries, including increasing competition from online retailers. Success depends on factors like brand recognition, product innovation, and competitive pricing.

A substantial portion of the company's revenue is derived from a limited number of large wholesale customers. Consolidations, liquidations, or restructurings within the retail industry could negatively impact the company's business.

The company's success depends on maintaining its brand image and reputation, which is essential for attracting and retaining customers. Negative publicity or failure to adapt to changing consumer preferences could damage the brand.

The company's gross margin improved due to lower freight costs, favorable geographic and channel mix, and higher average unit retail (AUR). This reflects successful efforts to optimize supply chain and pricing strategies.

The company has implemented restructuring plans designed to deliver long-term sustainable growth. These plans are expected to result in significant process improvements and the creation of synergies across core areas of operations.

The company is in the early stages of executing a large-scale multi-year global project that is expected to significantly transform the way in which we operate our business and further enable our long-term strategic pivot toward a global direct-to-consumer-oriented model

Investing in our digital ecosystem remains a primary focus and is a key component of our integrated global omni-channel strategy that spans across owned and partnered channels, both physical and digital.

The strategy for our digital flagships is to deliver distinct and immersive brand experiences, continuously enhance consumer experience, and develop digital content that drives deeper consumer engagement and conversion.

During Fiscal 2024, we continued the digitalization of our value chain and introduced visual line collaboration. In addition, we continued to enhance our solutions for advanced analytics, furthering our use of artificial intelligence (AI), both predictive and generative, and machine learning (ML) for areas such as forecasting, marketing, and personalization.

The company continues to repurchase shares, reflecting management's view that shares are undervalued and demonstrating confidence in future cash flow generation.

The company increased its quarterly dividend, signaling confidence in future cash flow generation and a commitment to returning value to shareholders.

Capital expenditures are primarily directed towards store openings and renovations, as well as enhancements to the company's information technology systems, supporting strategic growth initiatives.

The company is weaving its purpose throughout our business through three key pillars: Create with Intent, Protect the Environment, and Champion Better Lives

The company is committed to creating a culture of diversity, equity, and inclusion (DE&I) and belonging inside our Company and throughout the communities we serve.

The company is committed to conducting our global operations ethically with respect for the dignity of all people who make our products.

The global economy and retail industry are impacted by many different factors. Changes in economic conditions, most notably persisting inflationary pressures (including increases in the cost of raw materials, transportation, and salaries & benefits), high interest rates, significant foreign currency volatility, bank failures, and concerns of a potential recession, continue to impact consumer discretionary income levels, spending, and sentiment in the U.S. and beyond.

The global economy has also been negatively impacted by ongoing military conflicts taking place in various parts of the world, most notably the Russia-Ukraine and Israel-Hamas wars, other recent hostilities in the Middle East, and militant attacks on cargo vessels in the Red Sea.

The industries in which we operate have historically been subject to rapidly changing fashion trends and consumer preferences. Our success depends in large part on our ability to originate and define fashion product and home product trends, as well as to anticipate, gauge, and react to changing consumer preferences in a timely manner.