Core Insights - The company is transitioning to publishing trading statements for Q1 and Q3 instead of full quarterly reports [1] - The focus for Q1 has been on investments aimed at future profitable growth, particularly in retail excellence, marketing, and product development [2] Q1 Performance Highlights - The company achieved a record high gross margin of 58.7% in Q1 [2] - Company-owned stores and e-commerce experienced double-digit growth [2] - Revenue decreased by 4% in local currencies, attributed to monobrand partners reducing inventories [2]