Segment and Geographic Information (Tables)
|
3 Months Ended |
Mar. 31, 2025 |
|---|
| Segment Reporting [Abstract] |
|
| Segment Reporting Information |
Segment Information
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
2025 |
|
|
2024 |
|
Wholesale sales |
$ |
1,532,208 |
|
|
$ |
1,421,698 |
|
Cost of sales |
|
857,038 |
|
|
|
785,658 |
|
Gross profit |
|
675,170 |
|
|
|
636,040 |
|
Gross margin |
|
44.1 |
% |
|
|
44.7 |
% |
|
|
|
|
|
|
Direct-to-Consumer sales |
$ |
879,363 |
|
|
$ |
829,889 |
|
Cost of sales |
|
300,159 |
|
|
|
284,295 |
|
Gross profit |
|
579,204 |
|
|
|
545,594 |
|
Gross margin |
|
65.9 |
% |
|
|
65.7 |
% |
|
|
|
|
|
|
Total sales |
$ |
2,411,571 |
|
|
$ |
2,251,587 |
|
Cost of sales |
|
1,157,197 |
|
|
|
1,069,953 |
|
Gross profit |
|
1,254,374 |
|
|
|
1,181,634 |
|
Gross margin |
|
52.0 |
% |
|
|
52.5 |
% |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2025 |
|
|
As of
December 31, 2024 |
|
Identifiable assets |
|
|
|
|
|
|
Wholesale |
|
$ |
4,107,238 |
|
|
$ |
3,915,362 |
|
Direct-to-Consumer |
|
|
4,546,277 |
|
|
|
4,540,396 |
|
Total |
|
$ |
8,653,515 |
|
|
$ |
8,455,758 |
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
2025 |
|
|
2024 |
|
Additions to property, plant and equipment |
|
|
|
|
|
Wholesale |
$ |
102,534 |
|
|
$ |
32,763 |
|
Direct-to-Consumer |
|
44,567 |
|
|
|
24,324 |
|
Total |
$ |
147,101 |
|
|
$ |
57,087 |
|
|
| Geographic Information |
Geographic Information
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
2025 |
|
|
2024 |
|
Geographic sales |
|
|
|
|
|
Domestic Wholesale |
$ |
496,167 |
|
|
$ |
475,950 |
|
Domestic Direct-to-Consumer |
|
357,536 |
|
|
|
322,854 |
|
Total domestic sales |
|
853,703 |
|
|
|
798,804 |
|
|
|
|
|
|
|
International Wholesale |
|
1,036,041 |
|
|
|
945,748 |
|
International Direct-to-Consumer |
|
521,827 |
|
|
|
507,035 |
|
Total international sales |
|
1,557,868 |
|
|
|
1,452,783 |
|
|
|
|
|
|
|
Total sales |
$ |
2,411,571 |
|
|
$ |
2,251,587 |
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
2025 |
|
|
2024 |
|
Regional Sales |
|
|
|
|
|
Americas (AMER) |
$ |
1,104,370 |
|
|
$ |
1,019,467 |
|
Europe, Middle East & Africa (EMEA) |
|
718,211 |
|
|
|
627,652 |
|
Asia Pacific (APAC) |
|
588,990 |
|
|
|
604,468 |
|
Total sales |
$ |
2,411,571 |
|
|
$ |
2,251,587 |
|
|
|
|
|
|
|
China sales |
$ |
268,661 |
|
|
$ |
319,514 |
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2025 |
|
|
As of
December 31, 2024 |
|
Property, plant and equipment, net |
|
|
|
|
|
|
Domestic |
|
$ |
1,309,973 |
|
|
$ |
1,236,882 |
|
International |
|
|
627,628 |
|
|
|
598,048 |
|
Total |
|
$ |
1,937,601 |
|
|
$ |
1,834,930 |
|
|
|
|
|
|
|
|
China property plant and equipment, net |
|
$ |
319,163 |
|
|
$ |
303,607 |
|
|
| Summary of Accounts Receivables Excluding Allowances for Bad Debts and Chargebacks |
The Company’s accounts receivables, excluding allowances for credit losses and chargebacks, by geography are summarized as follows:
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2025 |
|
|
As of
December 31, 2024 |
|
Domestic accounts receivable |
|
$ |
420,286 |
|
|
$ |
345,488 |
|
International accounts receivable |
|
|
900,335 |
|
|
|
711,686 |
|
|
| Company's Top Five Manufacturers Produced |
The Company’s top five manufacturers produced the following:
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(percentage of total production) |
2025 |
|
|
2024 |
|
Manufacturer #1 |
|
20.7 |
|
|
|
20.0 |
|
Manufacturer #2 |
|
5.9 |
|
|
|
8.9 |
|
Manufacturer #3 |
|
5.1 |
|
|
|
5.4 |
|
Manufacturer #4 |
|
4.1 |
|
|
|
5.1 |
|
Manufacturer #5 |
|
3.8 |
|
|
|
3.7 |
|
Total |
|
39.6 |
|
|
|
43.1 |
|
|