Q4 Revenue and Comparable Sales Growth
Net sales for Q4 2025 increased 4.4% to $291.3M (from $279.2M). Consolidated comparable sales were up 2.2% for the quarter.
North America Momentum
North America Q4 net sales were $224.4M, up 4.8% (ex-FX +4.6%). North America comparable sales rose 5.5% in Q4, marking eight consecutive quarters of comp growth; full-year NA comps were +6.7%.
Gross Margin Expansion
Q4 gross profit rose to $111.4M and gross margin expanded to 38.2% vs 36.2% a year ago (+200 bps). FY 2025 gross margin was 35.8% vs 34.1% in 2024 (+170 bps); product margin improvements were a primary driver.
Return to Full-Year Profitability
Fiscal 2025 net income was $13.4M ($0.78 EPS) versus a net loss of $1.7M (-$0.09 EPS) in fiscal 2024. Operating income improved to $17.0M (1.8% of sales) from $2.0M (0.2%).
Strong Private Label & New Brands
Private label penetration reached ~30% of sales in 2025 (up from 12% five years ago). The company launched over 150 new and emerging brands in 2025, supporting assortment newness and margin profile.
Improved European Product Margins
Europe achieved 660 basis points of year-over-year product margin improvement in Q4 and ~250 bps product margin growth across 2025, driven by assortment, full-price selling and inventory discipline.
Healthy Balance Sheet and Share Repurchase Activity
Cash and marketable securities were $160.6M (up from $147.6M). No debt and full unused credit facility. Repurchased 2.7M shares for $38.3M in FY2025; Board approved up to $40M additional repurchase program.
Strong Start to Fiscal 2026 (4-week February Period)
For the 4-week period ended Feb 28, 2026, total sales increased 9.8% and comparable sales increased 7.5%. North America comps +6%, other international comps +13.2% (driven by Europe).