Financial Highlights:
- Revenue: $13.47 billion (YoY +1.53%, QoQ +7.93%)
- Net Income: $1.099 billion (YoY -7.72%, QoQ +2.71%)
- EPS: $0.96 (YoY +13%)
- Operating Margin: 10.58%
- Gross Profit Margin: 30.3% (up 20 bps YoY)
Management attributed the robust results to successful execution of their off-price model, leveraging favorable freight costs, strong brand partnerships, and effective merchandising strategies. The companyβs focus on customer experience and value propositions resonated well with shoppers, as reiterated by CEO Ernie Herrman during the earnings call.