Overview
- Net revenue rose 5% to $9.6 billion for the July–September quarter, topping the $9.3 billion consensus from FactSet.
- Global same-store sales increased 1% year over year, driven by a 3% rise outside North America while U.S. and North American sales were flat.
- Reported earnings fell 85% to $0.12 per share as the company recorded restructuring costs.
- The restructuring included 627 store closures—90% in North America—and layoffs of 900 non-retail employees.
- Adjusted earnings came in at $0.52 per share, missing the $0.56 estimate despite the revenue beat.