VRA: Direct segment sales up 8% and gross margin reached 59.8% on continued transformation momentum
Second quarter net revenues grew 1.1% year-over-year, with direct segment sales up 8% and comparable sales up 9.2%. Gross margin rose to 59.8%, aided by tariff refunds, and inventory was reduced by 28%. Full-year guidance was reiterated, expecting at least 50% improvement in non-GAAP operating loss…
2%. 8%, aided by tariff refunds, and inventory was reduced by 28%. Full-year guidance was reiterated, expecting at least 50% improvement in non-GAAP operating loss…