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    David Yu

    Research Analyst at Evercore ISI

    David Yu is an Equity Research Analyst at Evercore ISI, specializing in company and sector research with a focus on consumer and retail sectors. He has participated in coverage of companies such as Warby Parker, contributing detailed questions and analysis on earnings calls, and is recognized for his depth in EBITDA drivers, margins, and operational metrics. Yu began his analyst career at Evercore and has since focused on research roles, building expertise in financial modeling and industry analysis for publicly traded companies. He holds FINRA registrations and relevant securities licenses, with a record of participation in high-profile sell-side coverage and institutional research engagements.

    David Yu's questions to Warby Parker (WRBY) leadership

    David Yu's questions to Warby Parker (WRBY) leadership • Q1 2025

    Question

    David Yu requested a breakdown of the expected sources of EBITDA leverage between gross margin and SG&A for the second half of the year. He also asked for a quantification of the different tariff mitigation strategies, including supply chain shifts, pricing actions, and expense controls.

    Answer

    CFO Steve Miller explained that significant leverage is expected to continue coming from disciplined management of non-marketing SG&A, similar to Q1. He noted that gross margin would be positively impacted by supply chain realignment and selective price increases. However, Miller explicitly stated that the company has not provided a specific breakdown of the financial impact of each mitigation bucket, but confirmed the goal is to offset the entire potential $45-$50 million tariff exposure.

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