Financial Performance - Second Quarter 2025 (GAAP) - Net sales increased by 4% to $585 million compared to $564 million in 2024 [2] - Operating income significantly decreased by 90% to $4 million, representing 0.7% of net sales, compared to $39 million, or 7.0% of net sales in the prior year [2] - Net income saw a substantial decline of 98%, resulting in a minimal $0.4 million, or 0.1% of net sales, compared to $28 million, or 4.9% of net sales in 2024 [2] - Diluted EPS decreased by 99% to $0.01, down from $0.76 in the previous year [2] - EBITDA decreased by 65% to $19 million, which is 3.2% of net sales, compared to $53 million, or 9.5% of net sales in 2024 [2] Financial Performance - First Half 2025 (GAAP) - Net sales slightly decreased by 1% to $1,215 million from $1,226 million in 2024 [3] - Operating income decreased significantly by 68% to $30 million, representing 2.5% of net sales, compared to $94 million, or 7.7% of net sales in the prior year [3] - Net income decreased by 76% to $16 million, which is 1.3% of net sales, compared to $66 million, or 5.4% of net sales in 2024 [3] - Diluted EPS decreased by 76% to $0.43, down from $1.80 in the previous year [3] - EBITDA decreased by 53% to $58 million, representing 4.8% of net sales, compared to $123 million, or 10.0% of net sales in 2024 [3] Adjusted Financial Performance - Second Quarter 2025 - Adjusted operating income decreased by 70% to $12 million, representing 2.0% of net sales, compared to $39 million, or 7.0% of net sales in 2024 [9, 12] - Adjusted diluted EPS decreased by 78% to $0.17, down from $0.76 in the previous year [9, 12] Adjusted Financial Performance - First Half 2025 - Adjusted operating income decreased by 50% to $47 million, representing 3.9% of net sales, compared to $94 million, or 7.7% of net sales in 2024 [19, 22] - Adjusted diluted EPS decreased by 54% to $0.83, down from $1.80 in the previous year [19, 22] Segment Performance - Second Quarter 2025 - U.S. Retail net sales increased by approximately $9 million to $300 million, with operating income at $4 million, a decrease of $14 million [13] - U.S. Wholesale net sales remained comparable at $193 million, with operating income decreasing by $9 million to $27 million [13] - International net sales increased by $11 million to $93 million, with operating income decreasing by $2 million to $4 million [13] Balance Sheet & Cash Flow - Cash increased to $338 million from $317 million [25] - Inventory increased by 3% to $619 million, driven by higher tariffs [25, 26] - Operating cash flow was $(8) million, a decrease from $92 million in the prior year [25]