Risk Factors Update Summary
- The restructuring program expanded to target $300 million annualized operating income benefits by 2025.
- Sales of licensed products decreased from 46% to 44% of consolidated net sales.
- The Transform and Grow initiative evolved to capture a broader transformation, aiming for $100 million benefits.
- Anticipate closing approximately 55 stores globally, down from 60, impacting net sales.
- Sales of watches decreased from 77.9% to 77.6% of consolidated net sales in 2022.
- Net loss increased from $44.2 million to $157.1 million, impacting cash flow.
- Increased risk due to economic uncertainty, inflation, and rising interest rates affecting capital markets.
- Anti-takeover provisions may impact shareholders' ability to make decisions, potentially leading to disagreements.
- Uncertainty regarding economic growth and high unemployment rates may affect company performance.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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