Segment and Geographic Information (Tables)
|
3 Months Ended |
Mar. 31, 2024 |
|---|
| Segment Reporting [Abstract] |
|
| Segment Reporting Information |
Segment Information
|
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|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Wholesale sales |
|
$ |
1,421,698 |
|
|
$ |
1,294,558 |
|
Gross profit |
|
|
636,040 |
|
|
|
511,999 |
|
Gross margin |
|
|
44.7 |
% |
|
|
39.6 |
% |
|
|
|
|
|
|
|
Direct-to-Consumer sales |
|
$ |
829,889 |
|
|
$ |
707,370 |
|
Gross profit |
|
|
545,594 |
|
|
|
466,580 |
|
Gross margin |
|
|
65.7 |
% |
|
|
66.0 |
% |
|
|
|
|
|
|
|
Total sales |
|
$ |
2,251,587 |
|
|
$ |
2,001,928 |
|
Gross profit |
|
|
1,181,634 |
|
|
|
978,579 |
|
Gross margin |
|
|
52.5 |
% |
|
|
48.9 |
% |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2024 |
|
|
As of
December 31, 2023 |
|
Identifiable assets |
|
|
|
|
|
|
Wholesale |
|
$ |
3,750,122 |
|
|
$ |
3,607,537 |
|
Direct-to-Consumer |
|
|
3,817,318 |
|
|
|
3,939,814 |
|
Total |
|
$ |
7,567,440 |
|
|
$ |
7,547,351 |
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Additions to property, plant and equipment |
|
|
|
|
|
|
Wholesale |
|
$ |
32,763 |
|
|
$ |
51,516 |
|
Direct-to-Consumer |
|
|
24,324 |
|
|
|
19,697 |
|
Total |
|
$ |
57,087 |
|
|
$ |
71,213 |
|
|
| Geographic Information |
Geographic Information
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|
Three Months Ended March 31, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
Geographic sales |
|
|
|
|
|
|
Domestic Wholesale |
|
$ |
475,950 |
|
|
$ |
441,903 |
|
Domestic Direct-to-Consumer |
|
|
322,854 |
|
|
|
298,963 |
|
Total domestic sales |
|
|
798,804 |
|
|
|
740,866 |
|
|
|
|
|
|
|
|
International Wholesale |
|
|
945,748 |
|
|
|
852,655 |
|
International Direct-to-Consumer |
|
|
507,035 |
|
|
|
408,407 |
|
Total international sales |
|
|
1,452,783 |
|
|
|
1,261,062 |
|
|
|
|
|
|
|
|
Total sales |
|
$ |
2,251,587 |
|
|
$ |
2,001,928 |
|
|
|
|
|
|
|
|
|
|
Regional Sales |
|
|
|
|
|
|
Americas (AMER) |
|
$ |
1,019,467 |
|
|
$ |
945,931 |
|
Europe, Middle East & Africa (EMEA) |
|
|
627,652 |
|
|
|
534,494 |
|
Asia Pacific (APAC) |
|
|
604,468 |
|
|
|
521,503 |
|
Total sales |
|
$ |
2,251,587 |
|
|
$ |
2,001,928 |
|
|
|
|
|
|
|
|
China sales |
|
$ |
319,514 |
|
|
$ |
281,953 |
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2024 |
|
|
As of
December 31, 2023 |
|
Property, plant and equipment, net |
|
|
|
|
|
|
Domestic |
|
$ |
969,810 |
|
|
$ |
957,569 |
|
International |
|
|
549,653 |
|
|
|
549,121 |
|
Total |
|
$ |
1,519,463 |
|
|
$ |
1,506,690 |
|
|
|
|
|
|
|
|
China property plant and equipment, net |
|
$ |
285,337 |
|
|
$ |
286,854 |
|
|
| 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:
|
|
|
|
|
|
|
|
|
(in thousands) |
|
As of
March 31, 2024 |
|
|
As of
December 31, 2023 |
|
Domestic Accounts Receivable |
|
$ |
396,278 |
|
|
$ |
276,918 |
|
International Accounts Receivable |
|
|
819,126 |
|
|
|
641,249 |
|
|
| Company's Top Five Manufacturers Produced |
The Company’s top five manufacturers produced the following:
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Three Months Ended March 31, |
|
(percentage of total production) |
|
2024 |
|
|
2023 |
|
Manufacturer #1 |
|
|
20.0 |
|
|
|
23.2 |
|
Manufacturer #2 |
|
|
8.9 |
|
|
|
6.1 |
|
Manufacturer #3 |
|
|
5.4 |
|
|
|
5.8 |
|
Manufacturer #4 |
|
|
5.1 |
|
|
|
5.8 |
|
Manufacturer #5 |
|
|
3.7 |
|
|
|
5.3 |
|
Total |
|
|
43.1 |
|
|
|
46.2 |
|
|