Monro (MNRO) FY Conference June 10, 2025 10:30 AM ET Speaker0 Well, good morning. Thank you all for joining us. My name is Brian Nagel. I'm a senior equity research analyst here at Oppenheimer covering consumer growth and ecommerce. So this is our twenty fifth annual Oppenheimer consumer growth and ecommerce conference. We very much appreciate all of you attending. So I'm pleased to have with us our next presenting company, Monroe, and two of the company's senior executives, Brian D'Ambrosia, and investor r ...

Core Insights - Worksport Ltd. has expanded its dealer network to over 550 locations in the U.S., marking a nearly 6x increase since the beginning of 2025 [2][3] - The company anticipates significant growth in recurring revenue, projecting it to exceed $21.5 million annually at full activation of its dealer channels [4][5] - Management has reaffirmed full-year 2025 revenue guidance of $20-$25 million, representing a 2.5-3x increase year-over-year [6] Dealer Network Expansion - The addition of a second national automotive distributor has contributed to the rapid expansion of Worksport's dealer network [2][3] - The recent agreement adds approximately 250 dealer accounts, following a previous partnership that brought over 200 dealers [3] - As of now, Worksport actively sells to 187 of its 550 dealer partners, with new accounts joining weekly [4] Revenue Projections - The company estimates that its dealer channels can support over $21.5 million in annual repeatable revenue, driven by B2B traction and demand for its products [5] - The revenue potential reflects current scale and is expected to grow as dealer onboarding continues [5] - The anticipated revenue growth is supported by strong dealer adoption and increasing gross margins across all sales channels [6] Product Launch and Market Positioning - Worksport is preparing for the Fall 2025 commercial launch of its SOLIS solar-integrated tonneau cover and COR portable energy storage system, which are expected to unlock new revenue streams [9] - The company is focused on capturing greater market share and enhancing operational efficiencies, aiming for sustainable profitability and positive cash flow in fiscal 2025 and beyond [10] - Worksport's strategic focus on supporting U.S. retailers with American-made products is validated by the growing demand for high-quality truck accessories [7]

COLUMBUS, Ohio, June 10, 2025 /PRNewswire/ -- Designer Brands Inc. (NYSE: DBI) (the "Company," "we," "us," "our," and "Designer Brands"), one of the world's largest designers, producers, and retailers of footwear and accessories, today announced financial results for the first quarter ended May 3, 2025."We experienced a soft start to 2025 amid an unpredictable macro environment and deteriorating consumer sentiment," stated Doug Howe, Chief Executive Officer. "We have shifted our near-term focus to amplifyin ...

Core Insights - Burberry's children's dress was deemed non-compliant due to incorrect fiber content labeling, raising concerns about the brand's quality control capabilities [1][4][3] - The company is facing significant financial challenges, with a 17% year-over-year revenue decline and a pre-tax loss of £66 million for the fiscal year ending March 29, 2025 [6][7] - Burberry's brand image is at risk due to repeated quality control issues and a lack of innovation in product design, particularly in the Chinese market [4][8] Financial Performance - Burberry reported a revenue of £2.461 billion for the fiscal year 2025, down from £2.968 billion in the previous year, marking a 17% decline [6][7] - The adjusted operating profit plummeted by 94% to £26 million, with an adjusted operating margin of just 1.0% compared to 14.1% the previous year [7] - The company announced a workforce reduction of 1,700 employees, representing 20% of its global staff, as part of cost-cutting measures [6][7] Market Challenges - Comparable store sales decreased by 12% for the fiscal year, with a 6% decline in the fourth quarter, indicating ongoing struggles across all regions [8][9] - The Asia Pacific region experienced a 16% drop in comparable store sales, with the Chinese market specifically seeing declines of 15% and 8% [8][9] - Burberry's reliance on classic designs has led to consumer fatigue, and frequent discounting has diminished the brand's luxury perception [8][9] Strategic Initiatives - In response to its challenges, Burberry launched the "Burberry Forward" strategy, focusing on core categories like outerwear and scarves while reducing prices on bags and shoes [6][7] - The company is attempting to attract younger consumers through limited edition products and digital marketing, although these efforts have had limited success [8][9]

Core Viewpoint - Burberry is facing significant challenges, including product quality issues and declining financial performance, leading to a reevaluation of its brand strategy and market positioning [2][5][8]. Financial Performance - For the fiscal year 2025, Burberry reported revenue of £2.461 billion, a 17% decrease year-on-year, and a pre-tax loss of £66 million compared to a profit of £383 million in the previous year [5][6]. - In fiscal year 2024, sales revenue fell by 4% to £2.968 billion, with adjusted operating profit down by 34% to £418 million [5][6]. - Sales in the Americas and Europe, the Middle East, India, and Africa declined by 4%, while Asia-Pacific sales dropped by 9% [5]. Product and Brand Strategy - Burberry's reliance on classic designs, particularly its iconic check pattern, has led to a lack of innovation, resulting in customer fatigue and a decline in core clientele [8][10]. - The brand's frequent discount promotions have eroded its luxury image, negatively impacting its resale value in the second-hand market [8][10]. Organizational Changes - Burberry announced a restructuring plan that includes laying off 1,700 employees, approximately 20% of its global workforce, aiming to save £6 million by fiscal year 2027 [6][7]. - The company has experienced frequent changes in leadership, with three CEOs in the past six years, indicating potential strategic instability [12][13]. Market Positioning - The luxury market is under pressure, and Burberry's performance in China has been particularly affected by declining consumer sentiment and weak tourism retail [10][12]. - Analysts suggest that Burberry needs to innovate its product offerings, enhance digital marketing, and improve retail experiences to regain market relevance and attract younger consumers [10][13].

Core Viewpoint - Turtle Beach Corporation has adopted a limited duration stockholder rights plan to protect stockholders and enhance the value of their investments [1][2][4] Summary by Sections Rights Plan Adoption - The Board of Directors has approved a stockholder rights plan, declaring a dividend distribution of one right for each outstanding share of common stock, with a record date of June 23, 2025 [1][2] - The Rights Plan is designed to allow stockholders to realize the full potential value of their investments and to protect against actions deemed not in the best interests of the Company [2][4] Rights Plan Mechanism - The Rights become exercisable if a person or group acquires 10% or more of the Company's common stock without Board approval, allowing existing Right holders to purchase shares at a value of twice the exercise price [3] - In the event of a merger after such an acquisition, Right holders can purchase shares of the acquiring company at a similar valuation [3] Special Meeting Clause - The Rights Plan includes a clause allowing stockholders to call a special meeting to exempt a pending offer that meets specific criteria [4] - The plan is not a response to any specific takeover bid and does not aim to deter fair offers [4] Existing Stockholders - Current stockholders owning 10% or more of the Company's stock will not face penalties under the Rights Plan as long as they do not acquire additional shares cumulatively [5] Additional Information - Further details regarding the Rights Plan will be filed with the U.S. Securities and Exchange Commission and will be available on the Company's corporate website [6]

Financial Data and Key Metrics Changes - Non-GAAP earnings per diluted share increased to $0.19 from $0.12 year-over-year, exceeding guidance [13][37] - Net sales for the quarter were $584 million, down from $610 million in the same period last year, aligning with expectations [35] - Gross margin percentage was 42.2%, slightly down from 42.5% in the previous year [35][36] - Non-GAAP net income for the first quarter was $8.4 million compared to $5.8 million in the previous year [37] - Ending cash and availability was approximately $740 million, indicating a strong financial position [13][38] Business Line Data and Key Metrics Changes - Wholesale segment net sales decreased to $563 million from $598 million year-over-year [35] - Retail segment net sales increased to $36 million from $31 million in the previous year [35] - Key owned brands, including DKNY, Karl Lagerfeld, and Donna Karan, experienced double-digit growth, offsetting losses from exited businesses [5][14] Market Data and Key Metrics Changes - International markets are seen as significant growth opportunities, particularly in Europe [14][22] - The brand Donna Karan saw nearly 50% sales growth, with strong performance in dresses and suit separates [15][16] - DKNY and Karl Lagerfeld also reported strong sales growth, particularly in North America and Europe [20][22] Company Strategy and Development Direction - The company is focused on driving growth through its owned brands, which are expected to be sustainable long-term profit drivers [13][14] - Strategic initiatives include sourcing diversification, vendor negotiations, and selective price increases to mitigate tariff impacts [7][39] - The company is also enhancing its omni-channel capabilities and optimizing its global store footprint [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the consumer environment despite macroeconomic uncertainties [6][33] - The potential unmitigated tariff impact for fiscal 2026 is estimated at approximately $135 million, with ongoing efforts to mitigate this through various strategies [7][39] - The company remains committed to investing in key owned brands and growth initiatives despite challenges [12][33] Other Important Information - The company successfully renegotiated favorable lease terms for corporate offices and is streamlining its warehouse network [11] - The planned relaunch of the Sonya Riquel brand was postponed due to uncertainties in the operating environment [12][54] Q&A Session Summary Question: Pricing Power and Areas for Price Increases - Management indicated strong cooperation from retailers in adjusting pricing, focusing on areas where consumers will accept price increases [45][46] Question: Impact of Sonya Riquel Postponement on Guidance - The decision to postpone the Sonya Riquel launch was made to avoid losses, but strength in other brands allows the company to maintain its sales guidance [53][54][75] Question: Inventory Levels and Supply Chain Challenges - Inventory levels are expected to align with sales growth, with management actively managing inventory purchases in light of supply chain disruptions [78][80] Question: Promotions and Consumer Demand - Management does not anticipate significant pressure on promotions, citing strong demand for their products and effective management of inventory levels [84][85]

Core Insights - Turtle Beach Corporation, a leading gaming accessories brand, will participate in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference from June 9-11, 2025 [1] - CEO Cris Keirn will host a fireside chat on June 10 at 11:15 a.m. ET, with management available for meetings during the conference [1] Company Overview - Turtle Beach Corporation is recognized as one of the world's leading gaming accessory providers, known for its best-selling gaming headsets, top-rated game controllers, and award-winning PC gaming peripherals [3] - The company has maintained its position as a market leader in console gaming audio for over a decade, emphasizing innovation and customer support [3] - In 2024, Turtle Beach acquired Performance Designed Products LLC, further expanding its product offerings [3] - The company's shares are traded on the Nasdaq Exchange under the symbol TBCH [3]

Company Overview - Turtle Beach Corporation is a leading gaming accessories brand known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories [3] - The company has been a market leader in console gaming audio for over a decade and acquired Performance Designed Products LLC in 2024 [3] - Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol TBCH [3] Upcoming Events - CEO Cris Keirn and CFO Mark Weinswig will participate in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference from June 9-11, 2025 [1] - A fireside chat hosted by CEO Cris Keirn is scheduled for June 10 at 11:15 a.m. ET [1] - A live webcast of the event will be available on the company's website, with a replay accessible for 90 days [2]

Group 1 - The article introduces Josh Lukimin as a new contributing analyst for Seeking Alpha, inviting others to share their investment ideas for publication and potential earnings [1] - The focus is on long-term growth in the tech sector, emphasizing innovation and emerging technologies as key areas for investment [2] - The approach combines a deep understanding of market dynamics with a forward-looking perspective, aiming to build wealth through strategic, long-term investments in high-potential tech stocks [2]