The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ethan Siavosh Saghi - BTIG, LLC, Research Division - Analyst
: You have Ethan Saghi on for Janine this morning. First off, just could you give us some more details around what drove the acceleration in the
men's business in the first quarter? And then on top of that, if you could give any more details on the -- on what you're planning for inventory levels
in the second half of the year? That would be super helpful.
Question: Ethan Siavosh Saghi - BTIG, LLC, Research Division - Analyst
: And then one last quick one for me. You kind of highlighted the cautiousness from the consumer. Could you just talk about the cadence of sales
you saw in the first quarter and now you're seeing in the second quarter so far? And just talk about what you're seeing heightened cautiousness
from the consumer, things like that?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: Just curious, the 50% of units being handled through the direct channel for the holiday period, is that kind of the end target for the sort of total
capacity utilization of that center? And kind of how does that inform some of your margin outlook for the year?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: And correct me if I wrong, you've quantified kind of the contribution benefits from doing that. Can you remind me?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: And then the initiatives around kind of marketing efficiency and even promotions, I get that promotions are kind of comping up against maybe
harder comparisons as far as sort of depth is concerned. But where do you feel you are as far as meat on the bone from kind of continuing to drive
efficiencies on both of those costs?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: Yes, I guess, I'm talking about -- it seems to be there's an ongoing journey in kind of rationalizing promotional activity. And so as you look to a more
normalized period, kind of how you feel about the opportunity to kind of reduce or make more efficient rather some of that activity? And then on
marketing, again, being more targeted, bottom funnel kind of approach, I guess, sort of where we are on pulling some of those costs out of the
business? Does that make more sense?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: And I don't know how much you're going to speak to this just given sort of maybe competitive positioning. But as you kind of look at the opportunities
across the offering in a white space extension, either acquisition or just sort of internal vertical extension, do you think that there's an opportunity
to grow more within kind of the work category and kind of remove maybe some of the seasonality promotional need of the brand? Is that one area
that you're focused on as far as extension?
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