Risk Factors Update Summary
- Increasing fabric sourcing from Taiwan by 7%, from China Mainland by 7%, and from Sri Lanka by 4%.
- Expecting an increase in effective tax rate in 2023 due to Canadian withholding taxes.
- Transitioning to an omni-channel retail model with a focus on physical stores and e-commerce.
- Increasing the percentage of products manufactured by top five vendors from 56% to 55%.
- Planning to open new company-operated stores to support growth objectives.
- Increasing the percentage of fabrics produced by top five fabric suppliers from 56% to 52%.
- Increasing the number of vendors to manufacture products from 45 to 49.
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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