Direct segment revenue increased 4.9% to $112.9M.
Indirect segment revenue decreased 8.4% to $41.2M.
E-commerce sales dropped 10% Y/Y.
Gross margin rate improved 580 bps to 58.2%.
SG&A expense rate expanded 630 bps to 42.1%.
Operating margin rate -50 bps to 16.5%.
Inventory +15.4% Y/Y to $113.59M.
Q1 Guidance: Net revenues: $105M to $109M; Gross margin rate: 56.7% to 57.2%; SG&A expense rate: 53.5% to 54.8%; Tax rate: 45.7%; Diluted EPS: $0.04 to $0.06; Weighted-average shares outstanding: 37.6M; Inventory: $114M to $119M.
FY2017 Guidance: Net revenues: $510M to $525M; Gross margin rate: 57.7% to 58.1%; SG&A expense rate: 47.2% to 47.5%; Tax rate: 38.3%; Diluted EPS: $0.90 to $0.98; Weighted-average shares outstanding: 36.9M; Capex: ~$20M.
VRA +4.78% premarket.
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