Financial Data and Key Metrics Changes - In Q4 2025, net sales increased by 9.1% year-over-year to $139.7 million, marking the highest growth rate of the year and the highest in over three years [13] - For the full year, net sales grew by 6.2% to $482 million, with retail sales up 20.5% and wholesale sales up 1% [18] - Gross margins expanded by 150 basis points to 40.9% for the full year, despite absorbing approximately $10.9 million in tariffs [18] - Adjusted net income rose by 29.4% to $24.5 million, with adjusted EPS increasing by 28.3% to $3.26 [19] Business Line Data and Key Metrics Changes - Retail sales in Q4 increased by 30.8% to $57 million, following a 15.1% growth in the same quarter last year [13] - Wholesale sales decreased by 2.1% to $79.6 million in Q4, while contract manufacturing sales remained flat at $3.2 million [13] - The XTRATUF brand showed exceptional growth, with e-commerce sales nearly tripling, while Muck sales increased in the low 20% range [5][7] Market Data and Key Metrics Changes - E-commerce sales fueled over 30% growth in overall retail sales, with significant contributions from branded websites [11] - The company experienced strong demand in various regions, particularly in the Midwest, West, and Rocky Mountain regions for its men's Arctic collection [8] Company Strategy and Development Direction - The company plans to increase marketing spend to drive full-price selling and capitalize on growth opportunities in 2026 [12] - A focus on operational flexibility and a diversified brand portfolio is expected to provide multiple avenues for continued growth and value creation [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum heading into 2026, despite challenges from higher tariffs impacting margins, particularly in the first half of the year [20] - The company anticipates revenue growth of approximately 6% in 2026, with retail segments expected to grow faster than wholesale [20] Other Important Information - The company returned $4.6 million directly to shareholders through quarterly dividends in 2025 [19] - The effective tax rate for Q4 was 6.3%, down from 12.1%, primarily due to changes in state and local income taxes [17] Q&A Session Summary Question: Understanding the fourth quarter strength in the retail channel - Management noted that sales exceeded expectations, driven by effective marketing and favorable weather conditions [25] Question: Potential size and growth rate of XTRATUF and Muck brands in 2026 - Muck is expected to exceed $100 million, while XTRATUF is anticipated to approach $100 million, having tripled since acquisition [28] Question: Updates on gross margin expectations for 2026 amidst tariff headwinds - Management confirmed expectations for flat gross margins in 2026, despite anticipated tariff impacts [34]