The company said the FTC filed a suit seeking to block the Capri acquisition, that on October 24, 2024 the court granted a preliminary injunction against the merger, and that the company and Capri filed an appeal on October 28.

10-QQuarterly reportFiled Nov 7, 2024Period of report Sep 28, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said the FTC filed a suit seeking to block the Capri acquisition, that on October 24, 2024 the court granted a preliminary injunction against the merger, and that the company and Capri filed an appeal on October 28.
The company said Net sales for the Q1 quarter of fiscal 2025 decreased 0.4%, or $1.51 billion. It said Net income was $186.6 million and diluted earnings per share were $0.79. Excluding one-time items, net income was $241.6 million, or $1.02 per diluted share.
The company said that in the first quarter of fiscal 2025 it incurred total pre-tax charges of $70.8 million related to the Capri acquisition. Of this amount, $37.4 million was recorded as interest expense and $33.4 million was recorded in SG&A expenses, primarily for professional fees.
The company said cash and cash equivalents increased by $320.9 million in the first quarter of fiscal 2025. Net cash provided by investing activities was $190.1 million, and net cash used in financing activities was $74.5 million.

Key figures

Quarter ended September 28, 2024

Revenue: $1.5B
Operating income: $252M
Net income: $187M
EPS: $0.79
Gross profit: $1.1B
Operating cash flow: $120M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

FTC Suit and Preliminary Injunction Over Capri Acquisition

The company said the FTC filed a suit seeking to block the Capri acquisition, that on October 24, 2024 the court granted a preliminary injunction against the merger, and that the company and Capri filed an appeal on October 28.

Source · Based on the MD&A text of the filing

Net Sales and Earnings for First Quarter of Fiscal 2025

The company said Net sales for the Q1 quarter of fiscal 2025 decreased 0.4%, or $1.51 billion. It said Net income was $186.6 million and diluted earnings per share were $0.79. Excluding one-time items, net income was $241.6 million, or $1.02 per diluted share.

Source · Based on the MD&A text of the filing

Capri Acquisition Costs

The company said that in the first quarter of fiscal 2025 it incurred total pre-tax charges of $70.8 million related to the Capri acquisition. Of this amount, $37.4 million was recorded as interest expense and $33.4 million was recorded in SG&A expenses, primarily for professional fees.

Source · Based on the MD&A text of the filing

Cash Flow for First Quarter of Fiscal 2025

The company said cash and cash equivalents increased by $320.9 million in the first quarter of fiscal 2025. Net cash provided by investing activities was $190.1 million, and net cash used in financing activities was $74.5 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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