The company said fiscal 2023 net sales rose $998.7 million, or 9.8%, to $11.2 billion from $10.2 billion in fiscal 2022. Sales for the 53rd week were approximately $181.9 million, and comparable sales rose 5.7%.

1. 01

   The company said fiscal 2023 net sales rose $998.7 million, or 9.8%, to $11.2 billion from $10.2 billion in fiscal 2022. Sales for the 53rd week were approximately $181.9 million, and comparable sales rose 5.7%.

2. 02

   The company said fiscal 2023 gross profit increased $336.6 million to $4.4 billion, and gross margin fell 50 basis points, from 39.6% to 39.1%. SG&A as a percentage of net sales rose 50 basis points, from 23.5% to 24.0%.

3. 03

   The company said net income rose $48.6 million to $1.3 billion in fiscal 2023 (fiscal 2022: $1.2 billion). Income tax expense was $404.6 million, and the effective tax rate was 23.9% (fiscal 2022: 24.4%).

4. 04

   The company said it had cash and cash equivalents of $766.6 million as of February 3, 2024 and no outstanding borrowings under its credit facility. On March 12, 2024, its Board of Directors approved a new share repurchase program of up to $2.0 billion.

Key figures

Fiscal year ended February 3, 2024

Revenue

$10.2B

Operating income

$1.6B

Net income

$1.2B

EPS

$24.01

Gross profit

$4.0B

Operating cash flow

$1.5B

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.

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

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