Q1 2019 Results
Direct to consumer net revenue increased 35%
Traffic drove comps both in-store and online with increases of 8% and 41%
E-commerce revenues in China increased over 100%
Q1 2019 Revenue and Sales Results
Revenue in North America grew 18% as the momentum in this region remained strong
Net revenue was $782.3 million, an increase of 20% compared to the first quarter of fiscal 2018
Total comparable sales increased 14%
Comparable store sales increased 8%
Gross profit was $421.7 million, an increase of 22% compared to the first quarter of fiscal 2018
Q1 Investment
Capital expenditures were approximately $68 million for Q1 2019 compared to approximately $34 million in the first quarter 2018. The increase relates primarily to store capital for new locations, relocations and renovations and IT and supply chain investment.
Cap Ex is expected to be approximately $265 million to $275 million for the fiscal year 2019. This increase reflects a ramp up of the store renovation and relocation program, new store openings, technology investments and other corporate infrastructure projects.