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Comparable brand revenue fell 6% with a 2-year comp growth of 3.5% and a 4-year comp growth of 46.5%.
“Despite a challenging macro backdrop, we delivered another solid quarter of earnings. With our focus on compelling product, customer service, and profitability, we achieved our financial expectations,” said CEO Laura Alber.
Management reiterated its fiscal 2023 and long-term guidance. 2023 net revenue growth is expected to range from -3% to +3%, with an operating margin of 14%-15%.
In the long-term, management sees mid-to-high single-digit annual net revenue growth with an operating margin above 15%.
