Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C. Additional information about Terreno Realty Corporation is available on the company's web site at www.terreno.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking ...

Financial Data and Key Metrics Changes - The company reported a pro forma revenue increase of 16%, adjusted operating margin expansion of 200 basis points, and earnings per share growth of 35% compared to the previous year, all exceeding expectations [5][21][19] - Adjusted earnings per share reached $1.38, reflecting a 35% increase year-over-year [21][24] Business Line Data and Key Metrics Changes - Coach brand revenue increased by 21%, with North America growing by 26%, China by 21%, and Europe by 39% [8][21] - Kate Spade's revenue trends improved sequentially, showing a decline of 9% in the first quarter, but with signs of progress in key performance indicators [15][19] Market Data and Key Metrics Changes - North America sales accelerated by 18%, Europe saw a 32% revenue growth, and Greater China revenue increased by 19% [22][21] - In Japan, sales declined by 10%, as anticipated, amid a challenging consumer environment [22] Company Strategy and Development Direction - The company is focused on its Amplify Growth agenda, emphasizing emotional connections with consumers and targeting Gen Z for customer acquisition [6][5] - The strategy includes product innovation, enhancing direct-to-consumer channels, and creating immersive retail experiences [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth, citing structural advantages and a strong pipeline of innovation [39][5] - The company raised its fiscal 2026 outlook, expecting revenue of approximately $7.3 billion, representing pro forma growth of 7%-8% [29][30] Other Important Information - The company declared a quarterly cash dividend of $0.40 per common share and plans to return $1.3 billion to shareholders through dividends and share repurchases [25][24] - Inventory levels were reported to be 1% below the prior year, indicating a well-positioned inventory strategy [28] Q&A Session Summary Question: Drivers of accelerated growth and sustainability - Management highlighted structural advantages and a focus on new customer acquisition, particularly among Gen Z, as key drivers of growth sustainability [39][40] Question: Breakdown of Coach's revenue growth - The significant growth was attributed to new customer acquisition, increased average unit retail (AUR), and geographic expansion [48][47] Question: Gross margin expectations - Management confirmed that gross margin guidance remains stable despite tariff pressures, with expectations for continued improvement [58][59] Question: European market penetration - The company noted a significant growth of 39% in Europe, driven by effective marketing and customer acquisition strategies [69][70] Question: Kate Spade's merchandise margin progress - Management acknowledged the impact of tariffs and ongoing investments in customer engagement, indicating a focus on long-term growth despite current challenges [71][72]

Financial Data and Key Metrics Changes - The company reported a pro forma revenue increase of 16%, adjusted operating margin expansion of 200 basis points, and earnings per share growth of 35% compared to the previous year, all exceeding expectations [4][19][24] - The first-quarter gross margin was 76.5%, reflecting a 120 basis point increase year-over-year, driven by operational improvements and the divestiture of Stuart Weitzman [22][23] Business Line Data and Key Metrics Changes - Coach brand revenue increased by 21%, with North America growing by 26%, China by 21%, and Europe by 39%, indicating strong performance across key markets [6][7][19] - Kate Spade's revenue trends improved sequentially, with a decline of 9% in the first quarter, showing signs of progress in the turnaround efforts [12][13] Market Data and Key Metrics Changes - North America sales accelerated by 18%, Europe revenue grew by 32%, and Greater China revenue increased by 19%, showcasing strong global momentum [19][20] - In Japan, sales declined by 10%, reflecting a challenging consumer environment [21] Company Strategy and Development Direction - The company is focused on its Amplify Growth agenda, emphasizing emotional connections with consumers and targeting Gen Z for customer acquisition [4][5] - The strategy includes product innovation, enhancing direct-to-consumer channels, and creating immersive retail experiences [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth, citing structural advantages and a strong pipeline of innovation [36][39] - The company raised its fiscal 2026 outlook, expecting revenue of approximately $7.3 billion, representing pro forma growth of 7%-8% [27][28] Other Important Information - The company declared a quarterly cash dividend of $0.40 per share and plans to return $1.3 billion to shareholders through dividends and share repurchases [24][25] - Inventory levels were reported to be 1% below the prior year, indicating effective inventory management [26] Q&A Session Summary Question: Drivers of accelerated growth and sustainability - Management highlighted structural advantages and a focus on new customer acquisition, particularly among Gen Z, as key drivers of growth [35][36] Question: Breakdown of Coach's revenue growth - The growth was attributed to significant customer acquisition, increased average unit retail (AUR), and geographic expansion [40][41] Question: Gross margin expectations - Management confirmed that gross margin guidance remains unchanged, with ongoing progress against tariff impacts [44][46] Question: European market dynamics - The company noted a positive inflection in Europe, driven by effective marketing and customer acquisition strategies [49][50] Question: Kate Spade's merchandise margin progress - Management acknowledged the impact of tariffs and ongoing investments in customer engagement as factors affecting margins [51][52]

Core Viewpoint - Gyrodyne, LLC has entered into a purchase and sale agreement for approximately 49 acres of vacant land in St. James, New York, with a projected sale price of up to $28.74 million, which is expected to enhance the company's asset value and align with community needs for assisted living facilities [1][2][3]. Group 1: Agreement Details - The purchase price range for the property is set between $24 million and $28.74 million, with the final amount estimated at $28.74 million based on current conditions [2]. - The agreement includes customary representations, warranties, and covenants, and has been filed with the SEC [4]. Group 2: Strategic Implications - The CEO of Gyrodyne stated that this agreement is a significant milestone in executing the company's strategic plan and aims to maximize shareholder value [3]. - The transaction is expected to enhance the marketability and value of the adjacent industrial park at Flowerfield, while also addressing the community's need for assisted living facilities [3]. Group 3: Financial Impact - Following the agreement, Gyrodyne estimates its net asset value (NAV) in liquidation as of June 30, 2025, to be approximately $32.6 million, reflecting an increase of $1.8 million or $0.84 per share, which is a 6% increase from the previous NAV [3]. Group 4: Company Overview - Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties, including office, industrial, and service-oriented properties in the New York metropolitan area [5]. - The company is actively seeking value-enhancing entitlements for its properties, including a medical office park in Cortlandt Manor, New York [5].