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The company posted a record gross margin of 59.3% and adjusted gross margin was 59.4%. The adjusted EBIT margin was 14.9%, up from 13.3% in the same quarter last year.
The company reaffirmed its full 2022-year guidance, with estimated net revenue in the range of $6.4-$6.5 billion (growth of 11-13%), and adjusted diluted EPS in the range of $1.50-$1.56.
“The ongoing consumer demand across our portfolio of brands and our proven ability to deliver profitable growth give us the confidence to reaffirm our full-year outlook despite the incremental headwinds from ongoing macro challenges,” CFO Harmit Singh said on the guidance.
By Davit Kirakosyan
