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: Mauricio Serna - UBS AG - Analyst
: Great. Good morning. Thank you for taking my question. Yeah, I would like to get -- if you could provide a little bit more detail on what has
been the performance from the other parts of your business. You've had several licenses that you're lapping the launches this year. Maybe
can you talk a little bit about Nautica and any initial thoughts about what you've seen with Nike and BCBG? That would be very helpful.
Thank you.
Question: Mauricio Serna - UBS AG - Analyst
: Yeah, definitely. It was very helpful. If I could just have a quick follow-up on the gross margin. Just looking at the guidance that you gave, I
think it implies for fourth quarter a little bit over 400 basis points margin contraction. As we think about spring '26 and the initiatives that
you're doing on pricing and so forth, should we expect a pressure more aligned with Q3? Or I would suppose sequentially better than Q4,
we're just thinking about whether it could be closer to Q3 or still meaningful pressure. Thank you.
Question: Mauricio Serna - UBS AG - Analyst
: Understood. Thank you.
Question: Dana Telsey - Telsey Advisory Group LLC - Analyst
: Hi. Good morning, everyone. Morris, as you think about the Wholesale channel of distribution, how have the order trends been changing
lately, particularly for your own brands like the Donna Karan and the Karl Lagerfeld? And then Neal, given the gross margin excluding the
tariff, the complexion coming from your own brands, certainly, what I've been seeing in the stores is the good seltzer of Donna Karan and
Karl, and have the -- whether it's extended sizing, whether it's handbags, the improvement in Retail. Are any of these potential additive
catalysts that are incremental for 2026 and going forward? Thank you.
Question: Dana Telsey - Telsey Advisory Group LLC - Analyst
: Yeah. It's about when you think about next year, extended sizing, what you've done with Weekend, what you've done with handbags, what
you've done with own retail, how do you think of the incrementality of that, of your own brand, and the opportunity for contribution, whether
to top line or to margin?
Question: Dana Telsey - Telsey Advisory Group LLC - Analyst
: Thank you.
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