Total Revenue

7.4% increase (from $2,208.90M in Q1 2025 to $2,370.66M in Q1 2026)

Total revenue grew primarily due to across‐the‐board improvements in all segments, with category-level gains and continued market expansion adding to the growth seen in previous periods. " " "

Women's Product

7.0% increase (from $1,435.20M to $1,535.17M)

The consistent growth in Women’s Product revenue reflects ongoing product innovation and strong guest engagement that built on past performance levels. " "

Men's Product

7.7% increase (from $505.70M to $544.79M)

Men’s Product revenue grew as a result of continued strategic focus and product enhancements, which sustained the momentum generated in previous periods. " "

Other Channels

10.5% increase (from $232.60M to $256.66M)

The higher growth in Other Channels is driven by expansion in temporary locations, outlets, and re-commerce initiatives, building on earlier efforts to diversify revenue sources. " "

SG&A Expenses

Increased from $842.43M to $942.87M (11.9% increase)

Rising SG&A expenses were driven by higher employee costs, increased marketing and digital investments, and other operating expenses; these costs were more pronounced compared to the previous period, impacting profitability. " "

Net Income

Decline of 2% (from $321.42M to $314.57M)

Despite higher revenue, net income fell slightly due to the sharper increase in SG&A expenses and overall higher cost base compared to the previous quarter, which eroded margins. " "

Cash and Cash Equivalents

30% decrease (from $1,900,672K to $1,325,272K)

Liquidity pressures emerged as net cash provided by operating activities turned negative (from +$127,524K to –$118,954K) and combined with significant cash outflows from investing and financing activities, notably share repurchases. " "

Americas Revenue

Modest increase (<5% growth; from $1,622.30M to $1,674.56M)

Americas revenue remained dominant with steady growth driven by ongoing store expansions and consistent market performance, albeit at a slower rate than category-level dynamics of other segments. " "

China Mainland Revenue

Regional change less pronounced (<5% YoY); Q1 2026 level at $368.10M (baseline compared to previous period)

While exact YoY figures are not detailed, China Mainland continues to contribute solid revenue, supported by earlier noted gains in comparable sales and store expansion, underlining a steady but modest regional improvement. " "