Revenue Performance - Revenue for the three months ended April 30, 2025, was $85.9 million, representing a 57.6% increase compared to the same period in the prior fiscal year, driven by higher product unit shipments and increased sales of AI inference processors [84]. - Revenue for the three months ended April 30, 2025, was $85,872,000, representing a 57.6% increase from $54,473,000 in the same period of 2024 [106]. Operating Loss and Profitability - Operating loss for the same period was $25.9 million, an improvement from the $39.4 million loss in the prior year, attributed to higher revenue and gross profit, despite increased operating expenses [84]. - Net loss for the three months ended April 30, 2025, was $24,328,000, compared to a net loss of $37,932,000 in the same period of 2024 [106]. - Gross profit margin decreased to 60.0% in Q2 2025 from 60.9% in Q2 2024, primarily due to higher manufacturing costs [107]. Cash Flow and Financial Position - Cash flows from operating activities improved to $14.8 million for the three months ended April 30, 2025, compared to cash outflows of $15.0 million in the same period last year [84]. - Net cash provided by operating activities was $14,801,000 in Q2 2025, a significant improvement compared to a net cash used of $14,951,000 in Q2 2024 [115]. - Cash, cash equivalents, and marketable debt securities totaled approximately $259.4 million as of April 30, 2025 [114]. Share Repurchase and Obligations - The company repurchased 24,152 ordinary shares for approximately $1.0 million in cash, with $48.0 million available for further repurchases through June 30, 2025 [84]. - The Board of Directors approved an extension of the existing share repurchase program through June 30, 2026 [119]. - The company had purchase obligations with independent contract manufacturers amounting to $54.6 million as of April 2025 [121]. Research and Development - Research and development expenditures are anticipated to increase as the company targets innovative video and image processing solutions with enhanced AI capabilities [78]. - Research and development expenses increased by 8.6% to $58,819,000 in Q2 2025, driven by higher personnel costs and engineering-related expenses [108]. Market Strategy and Challenges - Future revenue growth is expected to depend significantly on the expansion within camera markets, particularly in IoT and emerging applications such as AI-enabled security cameras and advanced driver assistance systems (ADAS) [78]. - The company has historically concentrated revenue in a limited number of end markets, primarily IoT and automotive, and aims to diversify into new markets to facilitate revenue growth [90]. - Design wins are critical for revenue generation, but the actual revenue from these wins can vary significantly based on market demand and customer product success [86]. - The semiconductor industry has faced global supply chain challenges, which may impact the company's operations, although recent issues have largely subsided [93]. - The average selling price of solutions can vary by market and application, influenced by supply and demand dynamics and the introduction of new products [88]. Other Financial Information - Selling, general and administrative expenses increased marginally to $18,575,000 in Q2 2025, reflecting higher personnel costs [110]. - Other income, net, decreased by 4.2% to $2,175,000 in Q2 2025, primarily due to lower yields from cash deposits and debt security investments [111]. - No material changes to critical accounting policies and estimates compared to the Annual Report for the 2025 fiscal year [125]. - No material changes to market risk disclosures as described in the Annual Report for the 2025 fiscal year [126].

Financial Performance - Net sales for the three months ended April 30, 2025, were $940.1 million, a 1.3% increase from $927.9 million in the same period of 2024[106]. - Net sales for the nine months ended April 30, 2025, were $2,710.2 million, an increase of $59.3 million, or 2.2%, compared to $2,650.9 million for the same period in 2024[122]. - Net earnings for the three months ended April 30, 2025, were $57.8 million, a decrease of $55.7 million, or 49.1%, from $113.5 million in the same period of 2024[117]. - Net earnings for the nine months ended April 30, 2025, were $252.7 million, a decrease of $51.6 million, or 16.9%, compared to $304.3 million in 2024[130]. - Diluted earnings per share (EPS) decreased to $0.48 for the three months ended April 30, 2025, down from $0.92 in the prior year, a decline of 48.0%[117]. Segment Performance - The Industrial Solutions segment saw a sales increase of $14.2 million, or 5.3% growth, while the Mobile Solutions segment experienced a decline of $2.6 million, or 0.4%[108]. - The Mobile Solutions segment reported net sales of $1,702.6 million for the nine months ended April 30, 2025, an increase of $27.1 million, or 1.6%, compared to $1,675.5 million in 2024[140]. - Net sales for the Industrial Solutions segment for the three months ended April 30, 2025, were $283.3 million, an increase of $14.2 million, or 5.3%, compared to $269.1 million for the same period in 2024[146]. - Aerospace and Defense net sales increased by $11.0 million due to ongoing strength in the end markets, while Industrial Filtration Solutions (IFS) net sales increased by $3.2 million driven by replacement part sales[147]. - Net sales for the Life Sciences segment for the three months ended April 30, 2025, were $74.2 million, an increase of $0.6 million, or 0.7%, compared to $73.6 million for the same period in 2024[160]. Expenses and Costs - Gross margin as a percentage of net sales decreased to 34.2% for the three months ended April 30, 2025, down from 35.6% in the prior year, primarily due to higher manufacturing costs[109]. - Selling, general and administrative expenses decreased by $10.6 million, or 6.5%, to $151.1 million, representing 16.1% of net sales[110]. - Research and development expenses decreased by $3.4 million, or 14.0%, to $21.4 million, representing 2.3% of net sales[112]. - Selling, general and administrative expenses were $476.4 million, or 17.6% of net sales, for the nine months ended April 30, 2025, compared to $473.5 million, or 17.9% in 2024[124]. - Research and development expenses decreased by $2.9 million, or 4.4%, to $65.3 million, representing 2.4% of net sales for the nine months ended April 30, 2025[126]. Impairment and Tax - The company reported a loss on impairment of intangible assets of $62.0 million, or 6.6% of net sales, compared to no expense in the same period of 2024[111]. - Loss on impairment of intangible assets was $62.0 million, or 2.3% of net sales, for the nine months ended April 30, 2025, compared to no expense in 2024[125]. - The effective tax rate increased to 33.6% for the three months ended April 30, 2025, compared to 21.2% in the same period of 2024, primarily due to the impairment loss[115]. - The effective tax rate increased to 26.2% for the nine months ended April 30, 2025, compared to 23.1% in 2024, primarily due to the impairment loss[129]. Cash Flow and Debt - Cash provided by operating activities for the nine months ended April 30, 2025, was $251.0 million, a decrease of $115.5 million compared to $366.5 million for the same period in 2024[170]. - Cash used in investing activities for the nine months ended April 30, 2025, was $129.8 million, an increase of $62.0 million compared to $67.8 million for the same period in 2024[171]. - Total debt as of April 30, 2025, was $638.8 million, an increase of $130.4 million from $508.4 million as of July 31, 2024[177]. - Cash and cash equivalents as of April 30, 2025, were $178.5 million, down from $232.7 million as of July 31, 2024[174]. - Dividends paid for the nine months ended April 30, 2025, were $96.9 million, compared to $90.3 million for the same period in 2024[173]. Foreign Currency and Interest Rates - The estimated impact of foreign currency translation for the nine months ended April 30, 2025, resulted in a decrease in reported net sales of $10.1 million and a decrease in reported net earnings of $3.4 million[187]. - The overall stronger U.S. dollar negatively impacted the Company's international net sales and net earnings due to foreign-denominated revenues translating into less U.S. dollars[187]. - As of April 30, 2025, the total notional amount of foreign currency forward contracts designated as hedges was $32.4 million, while those not designated as hedges amounted to $194.3 million[189]. - The total notional amount of net investment hedges as of April 30, 2025, was €80 million, or $88.8 million, with maturity dates ranging from 2027 to 2029[190]. - Assuming a hypothetical 0.5 percentage point increase in short-term interest rates, interest expense would have increased approximately $1.7 million in the nine months ended April 30, 2025[192].

Sales Performance - Signet's total sales increased by 2.0% year over year to $1.54 billion in the first quarter of Fiscal 2026[118] - Same store sales rose by 2.5%, compared to a decrease of 8.9% in the prior year quarter, driven by improved merchandise assortment and increased average unit retail (AUR)[111] - North America total sales increased by 2.1% to $1.45 billion, with same store sales up 2.3% compared to a decrease of 9.2% in the prior year[121] - International sales rose 3.8% to $80.1 million, with same store sales increasing 4.5% compared to a decrease of 3.2% in the prior year[122] - E-commerce sales in Q1 Fiscal 2026 were $338.7 million, a slight increase of 0.2% from $337.9 million in the prior year[119] Financial Metrics - Gross margin improved to 38.8% in the first quarter of Fiscal 2026, compared to 37.9% in the prior year[117] - Net income for the first quarter of Fiscal 2026 was $33.5 million, a decrease from $52.1 million in the same period last year[117] - Operating income decreased slightly to $48.1 million in the first quarter of Fiscal 2026 from $49.8 million in the prior year[117] - Adjusted operating income for Q1 was $70.3 million, with an adjusted operating margin of 4.6% compared to 3.8% in the prior year[142] - Free cash flow for the 13 weeks ended May 3, 2025, was $(211.9) million, compared to $(181.5) million in the prior year[138] - Adjusted diluted EPS for the 13 weeks ended May 3, 2025, was $1.18, compared to $1.11 for the same period in the prior year, while diluted EPS was $0.78, up from $(0.90)[145] Expenses and Charges - SG&A expenses were $526.0 million, maintaining 34.1% of sales, driven by increased store payroll and marketing expenses[124] - The company incurred restructuring charges of $19.0 million and asset impairments of $3.0 million during the 13 weeks ended May 3, 2025, primarily due to the Grow Brand Love strategy initiatives[167] - Net interest income fell to $0.8 million from $8.6 million in the prior year due to lower cash balances[130] - Income tax expense was $12.1 million with an effective tax rate of 26.5%, significantly higher than the prior year’s $6.5 million and 11.1%[131] Strategic Initiatives - The Company launched its Grow Brand Love strategy in Fiscal 2026, focusing on sustainable growth and brand loyalty[110] - The company plans to invest up to $160 million in capital expenditures for Fiscal 2026, focusing on new stores, renovations, and digital advancements, following a $153.0 million investment in Fiscal 2025[149] - The company opened 5 new stores and closed 14 during the 13 weeks ended May 3, 2025, resulting in a total of 2,633 stores[160] Cash and Debt Management - As of May 3, 2025, the company had $264.1 million in cash and cash equivalents and no outstanding borrowings on its asset-based revolving credit facility (ABL), which had an available borrowing capacity of $1.1 billion[147][165] - The company repurchased $117.4 million of common shares during the 13 weeks ended May 3, 2025, with $605.6 million remaining authorized for repurchase[154] - The company maintained a 1.1x adjusted leverage ratio as of the end of Fiscal 2025, reflecting its conservative balance sheet strategy after retiring all funded debt[153] Market Risks - The company is closely monitoring macroeconomic factors such as tariffs and inflation, which may impact future performance[115] - Signet is exposed to market risk from fluctuations in foreign currency exchange rates, interest rates, and precious metal prices, which could affect its financial position and cash flows[174] - The company manages its market risk through regular operating and financing activities and the use of derivative financial instruments[174] - Signet enters into forward foreign currency exchange contracts and swaps to manage exposure to the US dollar and currency fluctuations associated with Canadian operations[175] - The interest rates earned on cash and cash equivalents will fluctuate in line with short-term interest rates[176] Dividend Information - The quarterly common dividend was increased from $0.29 per share in Fiscal 2025 to $0.32 per share beginning in Fiscal 2026, marking the fourth consecutive year of dividend growth[154] Impairment and Fair Value - The fair value of the Diamonds Direct reporting unit exceeded its carrying value of $251.2 million by approximately 11%[171] - The carrying values of the Digital brands goodwill and the trade names for Blue Nile, James Allen, and Diamonds Direct approximate their estimated fair values of $53.6 million, $19.0 million, $15.0 million, and $112.0 million, respectively[171] - An increase in the discount rate of 0.5% could result in additional impairment charges of approximately $8 million for the impaired trade names and reporting unit[172] - The company continues to monitor events that could trigger the need for an interim impairment test, with estimates and assumptions being subject to change[173]

Financial Results - Quantum Corporation provided preliminary financial results for its fiscal fourth quarter ended March 31, 2025[5] - The press release detailing these results was issued on May 6, 2025[5] - The financial results will not be deemed filed under the Securities Exchange Act of 1934[6] Report Details - The report includes a cover page interactive data file embedded within the Inline XBRL document[7]

Financial Performance - First quarter 2025 net sales are expected to be approximately $1.35 billion, exceeding the prior guidance range of $1.30 billion to $1.33 billion[7] - Adjusted operating income for the first quarter 2025 is projected to be $32 million, surpassing the previous guidance of $10 million to $30 million[7] - Adjusted diluted earnings per share for the first quarter 2025 is anticipated to be $0.09, compared to the prior guidance range of ($0.10) to $0.10[7] - Adjusted financial measures are used to evaluate performance internally, providing additional insights for investors[14] Security Incident - The company experienced a security incident on May 24, 2025, which led to temporary shutdowns of corporate systems and the e-commerce website[2][3] - The security incident did not materially disrupt financial results for the first quarter of fiscal 2025, but may incur future expenses impacting second quarter results[5] - The company is currently assessing the full scope and impact of the security incident under the oversight of the Audit Committee[5] Business Operations - Victoria's Secret & Co. operates approximately 1,380 retail stores in nearly 70 countries, employing over 30,000 associates[8] - The company is committed to integrating artificial intelligence into its business operations while managing associated risks[10] - The company plans to announce a new date for the first quarter 2025 earnings release and earnings call webcast in due course[4]

Exhibit 99.1 Financial Highlights for the First Quarter of 2025 1 · Vehicle sales were RMB9,939.3 million (US$1,369.7 million) i in the first quarter of 2025, representing an increase of 18.6% from the first quarter of 2024 and a decrease of 43.1% from the fourth quarter of 2024. · Vehicle margin ii was 10.2% in the first quarter of 2025, compared with 9.2% in the first quarter of 2024 and 13.1% in the fourth quarter of 2024. · Total revenues were RMB12,034.7 million (US$1,658.4 million) in the first quarte ...

Financial Performance - Net sales increased by 13.4% to $576.8 million, compared to $508.8 million in the same quarter last year[2] - Adjusted net income per diluted share was $0.75, reflecting a year-over-year increase of 2.7%[7] - Adjusted net income increased to $46,073 thousand in Q1 2025, up from $45,210 thousand in Q1 2024, reflecting a growth of 1.9%[18] - The net income per diluted share increased to $0.77 in Q1 2025 from $0.75 in Q1 2024, representing a growth of 2.7%[18] Store Performance - Comparable store sales rose by 2.6%, driven by an increase in transactions[7] - The number of stores open at the end of the period rose to 584 in Q1 2025, compared to 516 in Q1 2024, indicating a year-over-year store growth of 13.2%[19] - Comparable store sales change was 2.6% in Q1 2025, slightly down from 3.0% in Q1 2024[19] - The average net sales per store rose to $1,005 in Q1 2025 from $993 in Q1 2024, reflecting a growth of 1.2%[19] Outlook and Projections - The company reaffirmed its fiscal 2025 earnings outlook, projecting net sales between $2.579 billion and $2.599 billion[6] - The projected increase in comparable store sales for fiscal 2025 is between 1.4% and 2.2%[6] Cash and Investments - Cash and cash equivalents, along with short-term investments, totaled $369.5 million, with a total cash and investment position of $414.9 million, up 21.5% year over year[7] - Cash, cash equivalents, and short-term investments increased to $369,508 thousand in Q1 2025 from $341,500 thousand in Q1 2024, marking a rise of 8.2%[19] Expenses and Margins - Gross margin remained flat at 41.1%, with lower supply chain costs offset by a decrease in merchandise margin[7] - Selling, general and administrative expenses as a percentage of sales increased by 60 basis points to 28.6%[7] Share Repurchases - The company invested $17.1 million to repurchase 159,757 shares of its common stock, with $315.5 million remaining for future repurchases[7] - Share repurchases totaled $17,107 thousand in Q1 2025, down from $25,007 thousand in Q1 2024[19] Operating Activities - Net cash provided by operating activities decreased to $28,702 thousand in Q1 2025 from $40,184 thousand in Q1 2024, representing a decline of 28.8%[17] Capital Expenditures - Capital expenditures were $26,740 thousand in Q1 2025, slightly down from $26,865 thousand in Q1 2024[19] EBITDA - Adjusted EBITDA for Q1 2025 was $72,159 thousand, compared to $69,431 thousand in Q1 2024, showing an increase of 3.9%[18]

Financial Performance - Net sales for the 13 weeks ended May 2, 2025, increased to $10,435,979, up 5.3% from $9,914,021 in the same period last year[22] - Gross profit for the same period rose to $3,231,288, representing a gross margin of 30.9%, compared to 30.2% in the prior year[22] - Net income for the quarter was $391,928, an increase of 7.9% from $363,317 in the previous year[22] - Earnings per share (EPS) for the quarter was $1.78, up from $1.65 year-over-year[22] - Consolidated net income for the 13 weeks ended May 2, 2025, was $391,928 thousand, compared to $363,317 thousand for the same period in 2024, representing an increase of 7.9%[72] - Cash flows from operating activities rose to $847.2 million in 2025, an increase of $183.3 million compared to 2024[121] Assets and Liabilities - Total current assets decreased to $7,896,303 from $8,163,925 at the end of January 2025, primarily due to a reduction in cash and cash equivalents[20] - Total liabilities decreased to $23,283,998 from $23,719,026, reflecting a reduction in current liabilities[20] - Cash and cash equivalents at the end of the period were $850,018, down from $932,576 at the beginning of the period[30] - As of May 2, 2025, the Company's total current and long-term obligations were $5.744 billion, down from $6.238 billion as of January 31, 2025[52] Tax and Legal Matters - Total reserves for uncertain tax benefits, interest expense related to income taxes, and potential income tax penalties amounted to $14.5 million as of May 2, 2025[46] - The effective income tax rate for the 13-week period ended May 2, 2025, was 23.4%, slightly higher than the 23.3% rate for the same period in 2024[48] - The Company expects to reduce its reserve for uncertain tax positions by $3.5 million in the coming twelve months[47] - The effective income tax rate for 2025 was 23.4%, slightly higher than 23.3% in 2024, primarily due to stock-based compensation[113] - The Company believes that pending legal matters will be resolved without a material adverse effect on its consolidated financial statements[68] Operational Highlights - The company reported a LIFO provision of $12.3 million for the quarter, compared to $10.3 million in the same period last year[36] - Operating lease costs for the 13-week periods ended May 2, 2025, and May 3, 2024, were $487.9 million and $459.8 million, respectively, reflecting an increase of 6.5%[51] - The weighted-average remaining lease term for the Company's operating leases was 9.3 years, with a weighted average discount rate of 4.6% as of May 2, 2025[51] - The company opened 156 new stores and remodeled 668 stores in the first quarter of 2025, with plans to open approximately 575 new stores in 2025[92] - The Company operates 20,582 stores across 48 U.S. states and Mexico as of May 2, 2025, maintaining its position as the largest discount retailer in the U.S. by store count[82] Sales and Inventory - Consumables sales reached $8,636,680 thousand, up from $8,210,850 thousand, reflecting a growth of 5.2% year-over-year[70] - The percentage of net sales from consumables remained high at 82.76%, reflecting the company's focus on this category[111] - Inventory turnover improved to 4.2 in 2025 from 3.8 in 2024, indicating better inventory management[106] - Total merchandise inventories decreased by 2% in 2025, with apparel and home products both seeing an 8% decline[122] - Inventory represented approximately 46% of total assets as of May 2, 2025, indicating a focus on inventory management[117] Expenses and Dividends - Selling, general and administrative expenses increased by 8.5% to $2.66 billion, impacting overall profitability[109] - Cash dividends paid were $129.8 million in 2025, slightly up from $129.7 million in 2024[126] - Dividends paid during the quarter remained stable at $0.59 per share, consistent with the previous year[22] - A cash dividend of $0.59 per share was paid during the first quarter of 2025, with a similar dividend declared for June 2025[76] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[32] - The company plans to enhance its digital shopping experience and expand same-day home delivery offerings through partnerships with third-party delivery services[90] - The company has approximately $1.38 billion available under its common stock repurchase program, which has no expiration date[74] - The company has a remaining stock repurchase authorization of approximately $1.38 billion but plans no repurchases in 2025[127] - The Company is focused on mitigating the impact of tariffs on consumer behavior and financial results, with no material impact observed in the first quarter of 2025[84]

Financial Performance - Sales for Q1 Fiscal 2026 were $1.54 billion, an increase of $30.8 million or 2.0% compared to Q1 of FY25[5]. - Same store sales (SSS) rose by 2.5% compared to a decline of 8.9% in Q1 of FY25[6]. - Adjusted operating income increased to $70.3 million, up from $57.8 million in Q1 of FY25, representing an adjusted operating margin of 4.6%[8]. - Diluted earnings per share (EPS) improved to $0.78, compared to a loss of $0.90 in Q1 of FY25, while adjusted diluted EPS was $1.18, up from $1.11[9]. - Gross margin was $598.8 million, an increase of approximately $26 million from Q1 of FY25, with a gross margin rate of 38.8%[7]. - Net income for the quarter was $33.5 million, a decrease from $52.1 million year-over-year[23]. - Basic earnings per share were $0.79, compared to a loss of $0.90 in the prior year[23]. - Total operating income for the first quarter of Fiscal 2026 was $48.1 million, a decrease of 3.4% compared to $49.8 million in the first quarter of Fiscal 2025[27]. - Adjusted EBITDA for the first quarter of Fiscal 2026 was $113.8 million, an increase from $101.5 million in the prior year[47]. Guidance and Future Expectations - Fiscal 2026 total sales guidance is updated to $6.57 to $6.80 billion, with same store sales expected to range from (2.0%) to +1.5%[14]. - Adjusted diluted EPS guidance for Fiscal 2026 is raised to a range of $7.70 to $9.38, compared to the previous range of $7.31 to $9.10[14]. - The company expects capital expenditures of approximately $145 to $160 million for the fiscal year[16]. Cash and Assets - Cash and cash equivalents at the end of the quarter were $264.1 million, down from $729.3 million in Q1 of FY25 due to share repurchases and debt retirement[10]. - Total assets decreased to $5,451.9 million from $5,726.6 million year-over-year[24]. - The company reported a net cash used in operating activities of $175.3 million for the quarter[25]. - Free cash flow for the 13 weeks ended May 3, 2025, was $(211.9) million, compared to $(181.5) million for the same period in the prior year[39]. Inventory and Store Operations - Inventories increased to $2,006.5 million from $1,937.3 million, indicating a rise in stock levels[24]. - The company operated 2,633 stores as of May 3, 2025, a decrease of 9 stores from the end of Fiscal 2025[28]. - The company reported a total of 2,371 stores in the North America segment after 5 openings and 13 closures[29]. Segment Performance - North America segment sales increased by 2.3%, while international segment sales saw a 1.5% increase at constant exchange rates[26]. - North America segment adjusted operating income rose to $97.1 million, a 14.0% increase from $85.2 million in the first quarter of Fiscal 2025[41]. - The International segment reported an adjusted operating loss of $7.0 million, unchanged from the previous year[42]. Tax and Other Financial Metrics - The effective tax rate for the first quarter of Fiscal 2026 was 26.5%, up from 11.1% in the same quarter of the previous year[45].

Financial Performance - Net sales increased by 5.3% to $10.4 billion in Q1 2025 compared to $9.9 billion in Q1 2024[4] - Operating profit increased by 5.5% to $576.1 million, up from $546.1 million in Q1 2024[7] - Diluted earnings per share (EPS) rose by 7.9% to $1.78, compared to $1.65 in Q1 2024[9] - Net income for the quarter was $391,928,000, representing a 7.9% increase from $363,317,000 in the prior year[31] - Earnings per share for the quarter were $1.78, up from $1.65 in the same quarter last year[31] Sales and Revenue Growth - Same-store sales rose by 2.4%, driven by a 2.7% increase in average transaction amount, despite a 0.3% decrease in customer traffic[4] - The company expects net sales growth of approximately 3.7% to 4.7% for fiscal year 2025, an increase from the previous expectation of 3.4% to 4.4%[16] - For the quarter ended May 2, 2025, net sales increased by 5.3% to $10,435,979,000 compared to $9,914,021,000 for the same period in 2024[31] Profitability Metrics - Gross profit as a percentage of net sales improved to 31.0%, up from 30.2% in Q1 2024, an increase of 78 basis points[6] - Gross profit margin improved to 30.96% from 30.18% year-over-year, with gross profit amounting to $3,231,288,000[31] Cash Flow and Liquidity - Cash flows from operations increased by 27.6% to $847.2 million[5] - Cash and cash equivalents at the end of the period were $850,018,000, down from $932,576,000 at the beginning of the period[33] Inventory and Assets - Total merchandise inventories decreased by 7.0% to $6.6 billion as of May 2, 2025, compared to $6.9 billion as of May 3, 2024[10] - The company reported a decrease in merchandise inventories to $6,590,096,000 from $6,934,389,000 year-over-year[29] - Total assets decreased slightly to $30,987,661,000 from $31,132,733,000 at the end of January 2025[29] Expenses and Liabilities - Selling, general and administrative expenses increased to $2,655,175,000, accounting for 25.44% of net sales[31] - The company’s total liabilities were $23,283,998,000, a decrease from $24,009,320,000 in the previous year[29] Future Plans - The updated guidance for diluted EPS is approximately $5.20 to $5.80, compared to the previous expectation of $5.10 to $5.80[16] - The company plans to execute approximately 4,885 real estate projects in fiscal year 2025, including opening about 575 new stores in the U.S.[18] - The company opened 156 new stores during the quarter, resulting in a total store count of 20,582, a net decrease of 12 stores[37]