Overview

• First-quarter revenue rose 7% to $2.37 billion and earnings per share topped estimates at $2.60 despite a 2% drop in comparable sales in the Americas.
• The company lowered its full-year earnings per share forecast to $14.58–$14.78 while maintaining revenue guidance of $11.15 billion–$11.30 billion.
• Management projected second-quarter revenue of $2.54 billion–$2.56 billion and earnings per share of $2.85–$2.90, both below Wall Street expectations.
• Executives warned that proposed tariffs on imports from Vietnam, Cambodia and Sri Lanka will squeeze profit margins and said they will impose modest price increases on a small portion of products.
• Shares plunged roughly 20% in premarket trading Friday as investors reacted to the reduced profit outlook and tariff headwinds.