Segment and Geographic Information (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Segment Reporting [Abstract] |
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| Segment Reporting Information |
Segment Information
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
|
2023 |
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|
2022 |
|
Wholesale sales |
|
$ |
1,073,019 |
|
|
$ |
1,140,325 |
|
|
$ |
2,367,576 |
|
|
$ |
2,391,631 |
|
Gross profit |
|
|
431,551 |
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|
|
414,479 |
|
|
|
943,550 |
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|
|
869,439 |
|
Gross margin |
|
|
40.2 |
% |
|
|
36.3 |
% |
|
|
39.9 |
% |
|
|
36.4 |
% |
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|
|
|
|
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|
|
|
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Direct-to-Consumer sales |
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$ |
939,497 |
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$ |
727,479 |
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$ |
1,646,868 |
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$ |
1,295,767 |
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Gross profit |
|
|
628,973 |
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|
|
483,100 |
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|
|
1,095,553 |
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|
|
852,303 |
|
Gross margin |
|
|
66.9 |
% |
|
|
66.4 |
% |
|
|
66.5 |
% |
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|
65.8 |
% |
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Total sales |
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$ |
2,012,516 |
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|
$ |
1,867,804 |
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|
$ |
4,014,444 |
|
|
$ |
3,687,398 |
|
Gross profit |
|
|
1,060,524 |
|
|
|
897,579 |
|
|
|
2,039,103 |
|
|
|
1,721,742 |
|
Gross margin |
|
|
52.7 |
% |
|
|
48.1 |
% |
|
|
50.8 |
% |
|
|
46.7 |
% |
|
|
|
|
|
|
|
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|
(in thousands) |
|
As of
June 30, 2023 |
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|
As of
December 31, 2022 |
|
Identifiable assets |
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Wholesale |
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$ |
3,575,560 |
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$ |
3,682,860 |
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Direct-to-Consumer |
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3,532,097 |
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3,210,627 |
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Total |
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$ |
7,107,657 |
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$ |
6,893,487 |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
(in thousands) |
|
2023 |
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|
2022 |
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|
2023 |
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|
2022 |
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Additions to property, plant and equipment |
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Wholesale |
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$ |
55,916 |
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|
$ |
49,965 |
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|
$ |
107,432 |
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$ |
114,663 |
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Direct-to-Consumer |
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|
20,296 |
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24,148 |
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39,993 |
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|
48,848 |
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Total |
|
$ |
76,212 |
|
|
$ |
74,113 |
|
|
$ |
147,425 |
|
|
$ |
163,511 |
|
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| Geographic Information |
Geographic Information
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
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|
2023 |
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|
2022 |
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Geographic sales |
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Domestic Wholesale |
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$ |
390,783 |
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$ |
521,041 |
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$ |
832,685 |
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$ |
1,059,610 |
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Domestic Direct-to-Consumer |
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|
411,063 |
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|
319,508 |
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|
710,027 |
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|
558,956 |
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Total domestic sales |
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|
801,846 |
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|
840,549 |
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1,542,712 |
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1,618,566 |
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International Wholesale |
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682,236 |
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619,284 |
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1,534,891 |
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1,332,021 |
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International Direct-to-Consumer |
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|
528,434 |
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|
407,971 |
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|
936,841 |
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|
736,811 |
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Total international sales |
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1,210,670 |
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1,027,255 |
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2,471,732 |
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2,068,832 |
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Total sales |
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$ |
2,012,516 |
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$ |
1,867,804 |
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$ |
4,014,444 |
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$ |
3,687,398 |
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Regional Sales |
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Americas (AMER) |
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$ |
1,027,006 |
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|
$ |
1,033,879 |
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|
$ |
1,972,936 |
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|
$ |
1,980,765 |
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Europe, Middle East & Africa (EMEA) |
|
|
433,351 |
|
|
|
374,566 |
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|
967,845 |
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|
815,767 |
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Asia Pacific (APAC) |
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|
552,159 |
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|
459,359 |
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1,073,663 |
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|
890,866 |
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Total sales |
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$ |
2,012,516 |
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$ |
1,867,804 |
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$ |
4,014,444 |
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$ |
3,687,398 |
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China sales |
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$ |
302,401 |
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$ |
254,917 |
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$ |
584,354 |
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$ |
527,948 |
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(in thousands) |
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As of
June 30, 2023 |
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As of
December 31, 2022 |
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Property, plant and equipment, net |
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Domestic |
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$ |
901,797 |
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$ |
870,924 |
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International |
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|
515,428 |
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|
474,446 |
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Total |
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$ |
1,417,225 |
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$ |
1,345,370 |
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China property plant and equipment, net |
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$ |
280,463 |
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$ |
264,422 |
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| Summary of Accounts Receivables Excluding the Allowance for Bad Debts and Chargebacks |
The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows:
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(in thousands) |
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As of
June 30, 2023 |
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As of
December 31, 2022 |
|
Domestic Accounts Receivable |
|
$ |
331,663 |
|
|
$ |
310,138 |
|
International Accounts Receivable |
|
|
677,039 |
|
|
|
597,621 |
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| Company's Top Five Manufacturers Produced |
The Company’s top five manufacturers produced the following:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(percentage of total production) |
|
2023 |
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|
2022 |
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|
2023 |
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|
2022 |
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Manufacturer #1 |
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|
17.1 |
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16.1 |
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19.8 |
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16.9 |
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Manufacturer #2 |
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7.1 |
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6.3 |
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6.5 |
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5.6 |
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Manufacturer #3 |
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6.8 |
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6.1 |
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6.5 |
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5.6 |
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Manufacturer #4 |
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6.1 |
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6.0 |
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5.7 |
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5.1 |
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Manufacturer #5 |
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5.5 |
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5.0 |
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5.2 |
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4.7 |
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Total |
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42.6 |
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39.5 |
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|
43.7 |
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37.9 |
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