Overview
- Comparable sales in the Americas fell 4% in the latest quarter, signaling a slowdown in the company’s largest market.
- New U.S. tariff rules and higher import costs are pressuring the supply chain and compressing profitability.
- International revenue rose 22% in fiscal Q2 2025, but North America still accounted for about 75% of sales in fiscal 2024.
- Shares are down roughly 52% year to date and the stock now trades near 11.5 times earnings, its lowest multiple in more than a decade outside the Great Recession.
- Over the past five years, revenue more than doubled and EPS more than tripled, yet investor sentiment has turned sharply negative.