The CEO speaks to WWD as second-quarter sales and profits top estimates even as the war in Ukraine took a financial toll.
Revenues for the three months ended May 29 increased 15 percent to $1.47 billion — ahead of the $1.43 billion analysts had penciled in. On a constant currency basis, the top line grew 20 percent.
Fallout from Russia’s war in Ukraine saddled the jeansmaker with charges of $60 million, or 15 cents a share, and lower-income consumers shopping the Signature byBut Bergh said Denizen, sold at Target, and Signature, sold at Walmart, are “a relatively small part of our overall business and they were down in the single digits.”
“Our revenue growth was driven by a combination of really good unit growth as well as our [average unit retail price] being up 8 percent versus a year ago,” he said. And increasingly they might be buying jeans to return to work — Bergh said that globally more than half of consumers say they can now wear jeans in the office. Second-quarter sales at company-operated stores rose 23 percent, while wholesale increased 15 percent.
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