EPS did beat estimates, at 3c vs an expected loss of 4c. But this is well down from 44c profit in the same quarter last year. Revenue rose 1.7% to $534M and beat estimates ($517M). Retail revenue rose 3% but e-commerce sales fell 1%. Sales forecast for 2024 ($2.25B to $2.35B was close to estimates of $2.29B). The 3Q is likely to see 'flat or down' revenue, but it is a tough comparison to last year (50% growth). Margins are expected to decline 2 percentage points. Inventory is still too high following 'missed opportunities in the level of new styles'. While ATZ did 'beat' and expectations are low, the inventory and margin situation will not likely go over so well with investors.
5i Research Answer: