Segment and Geographic Information (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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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) |
|
2024 |
|
|
2023 |
|
|
2024 |
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|
2023 |
|
Wholesale sales |
|
$ |
1,132,111 |
|
|
$ |
1,073,019 |
|
|
$ |
2,553,809 |
|
|
$ |
2,367,576 |
|
Gross profit |
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|
496,982 |
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|
|
431,551 |
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|
|
1,133,022 |
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|
|
943,550 |
|
Gross margin |
|
|
43.9 |
% |
|
|
40.2 |
% |
|
|
44.4 |
% |
|
|
39.9 |
% |
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|
|
|
|
|
|
|
|
|
|
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Direct-to-Consumer sales |
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$ |
1,025,532 |
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|
$ |
939,497 |
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$ |
1,855,421 |
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|
$ |
1,646,868 |
|
Gross profit |
|
|
687,455 |
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|
|
628,973 |
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|
|
1,233,049 |
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|
|
1,095,553 |
|
Gross margin |
|
|
67.0 |
% |
|
|
66.9 |
% |
|
|
66.5 |
% |
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|
66.5 |
% |
|
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Total sales |
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$ |
2,157,643 |
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|
$ |
2,012,516 |
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|
$ |
4,409,230 |
|
|
$ |
4,014,444 |
|
Gross profit |
|
|
1,184,437 |
|
|
|
1,060,524 |
|
|
|
2,366,071 |
|
|
|
2,039,103 |
|
Gross margin |
|
|
54.9 |
% |
|
|
52.7 |
% |
|
|
53.7 |
% |
|
|
50.8 |
% |
|
|
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|
|
|
|
|
|
(in thousands) |
|
As of
June 30, 2024 |
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|
As of
December 31, 2023 |
|
Identifiable assets |
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Wholesale |
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$ |
3,902,620 |
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$ |
3,607,537 |
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Direct-to-Consumer |
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4,072,331 |
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3,939,814 |
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Total |
|
$ |
7,974,951 |
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|
$ |
7,547,351 |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
|
(in thousands) |
|
2024 |
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|
2023 |
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|
2024 |
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|
2023 |
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Additions to property, plant and equipment |
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Wholesale |
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$ |
64,598 |
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|
$ |
55,916 |
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|
$ |
97,361 |
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$ |
107,432 |
|
Direct-to-Consumer |
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|
47,852 |
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|
20,296 |
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|
72,176 |
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|
39,993 |
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Total |
|
$ |
112,450 |
|
|
$ |
76,212 |
|
|
$ |
169,537 |
|
|
$ |
147,425 |
|
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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) |
|
2024 |
|
|
2023 |
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|
2024 |
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|
2023 |
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Geographic sales |
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Domestic Wholesale |
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$ |
446,915 |
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$ |
390,783 |
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$ |
922,865 |
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$ |
832,685 |
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Domestic Direct-to-Consumer |
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|
416,930 |
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|
411,063 |
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|
739,784 |
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|
710,027 |
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Total domestic sales |
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863,845 |
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|
801,846 |
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1,662,649 |
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1,542,712 |
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International Wholesale |
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685,196 |
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682,236 |
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1,630,944 |
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1,534,891 |
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International Direct-to-Consumer |
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|
608,602 |
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528,434 |
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1,115,637 |
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|
936,841 |
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Total international sales |
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1,293,798 |
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1,210,670 |
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2,746,581 |
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2,471,732 |
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Total sales |
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$ |
2,157,643 |
|
|
$ |
2,012,516 |
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$ |
4,409,230 |
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$ |
4,014,444 |
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Regional Sales |
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Americas (AMER) |
|
$ |
1,100,929 |
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$ |
1,027,006 |
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|
$ |
2,120,397 |
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|
$ |
1,972,936 |
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Europe, Middle East & Africa (EMEA) |
|
|
492,534 |
|
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|
433,351 |
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|
|
1,120,186 |
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|
967,845 |
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Asia Pacific (APAC) |
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|
564,180 |
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|
552,159 |
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1,168,647 |
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|
1,073,663 |
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Total sales |
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$ |
2,157,643 |
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$ |
2,012,516 |
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$ |
4,409,230 |
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$ |
4,014,444 |
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China sales |
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$ |
312,742 |
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$ |
302,401 |
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$ |
632,256 |
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$ |
584,354 |
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(in thousands) |
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As of
June 30, 2024 |
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As of
December 31, 2023 |
|
Property, plant and equipment, net |
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Domestic |
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$ |
1,009,793 |
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$ |
957,569 |
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International |
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|
577,640 |
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|
549,121 |
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Total |
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$ |
1,587,433 |
|
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$ |
1,506,690 |
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China property plant and equipment, net |
|
$ |
292,404 |
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$ |
286,854 |
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| Summary of Accounts Receivables Excluding Allowances 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, 2024 |
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As of
December 31, 2023 |
|
Domestic Accounts Receivable |
|
$ |
386,546 |
|
|
$ |
276,918 |
|
International Accounts Receivable |
|
|
694,288 |
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|
641,249 |
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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, |
|
(percentage of total production) |
|
2024 |
|
|
2023 |
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|
2024 |
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|
2023 |
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Manufacturer #1 |
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|
19.5 |
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|
17.1 |
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19.8 |
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19.8 |
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Manufacturer #2 |
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6.5 |
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7.1 |
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7.6 |
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6.5 |
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Manufacturer #3 |
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6.3 |
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6.8 |
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5.7 |
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6.5 |
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Manufacturer #4 |
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6.0 |
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6.1 |
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5.7 |
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5.7 |
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Manufacturer #5 |
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4.3 |
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5.5 |
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3.9 |
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5.2 |
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Total |
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42.6 |
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42.6 |
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|
42.7 |
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43.7 |
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