Business TransformationManagement noted that phase one of its business transformation is nearly complete, with operational excellence initiatives implemented including product sourcing realignment and inventory level improvement.
Inventory ManagementInventory levels appear very clean despite well-below-plan revenue, and gross margin slightly surpassed consensus forecasts.
Product StrategyThe company is focused on product execution, pointing to three new capsule collections in January 2025, product offering expansion (denim/intimates), and appealing to a younger consumer while maintaining core customer loyalty.