Revenue Growth
Fourth quarter revenue increased by 7% year-over-year, with D2C comparable sales growth of 7%.
Gross Margin Improvement
Gross margin expanded by 620 basis points in Q4 to 71.3% and 69.9% for the full year.
D2C Sales Performance
D2C revenue increased to $314 million, up 12% year-over-year, with North America leading with a 17% comp growth for the quarter.
Inventory Management
Inventory was reduced by 14% year-over-year, with inventory turns reaching 1.0x, up from 0.9x last year.
Marketing Campaign Success
Marketing campaigns such as Sea Mantra and eyewear resulted in a 19% year-over-year increase in global brand search demand.
Adjusted EBIT Growth
Adjusted EBIT for Q4 was $60 million, up 49% year-over-year, with a margin expansion of 430 basis points.