Raises Q4 revenue view to $3.56B-$3.58B from $3.475B-$3.51B, consensus $3.52B. The company now expects gross margin to increase approximately 30 basis points relative to the fourth quarter of fiscal 2023, compared to its previous guidance of a decrease of 20 to 30 basis points. It now expects deleverage of selling, general, and administrative expenses of 80 to 90 basis points relative to the fourth quarter of fiscal 2023 compared to its previous guidance of deleverage of 90 to 100 basis points. There is no change to the Company’s previous guidance for the effective tax rate. Meghan Frank, CFO, commented: “During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance. As we close out our 2024 fiscal year, I want to thank our teams around the world for their hard work and ongoing commitment to supporting our guests and communities.”
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