Risk Factors Update Summary
- Added "Supplier Code" to risk factors. No individual third-party manufacturer, licensee, or vendor accounted for more than 10% of purchases in Fiscal 2023.
- Increased capital expenditures of over $130 million for a new distribution center in Fiscal 2024.
- Increased Tommy Bahama sales by 2% to $899 million in Fiscal 2023 compared to $880 million in Fiscal 2022.
- Gross margins may be adversely impacted due to global supply chain factors.
- Operating income for Tommy Bahama decreased by 7% to $161 million in Fiscal 2023 compared to $173 million in Fiscal 2022.
- Recognized $111 million noncash impairment charges for goodwill and intangible assets in Fiscal 2023.
- Increased costs of raw materials, including cotton, impacting consolidated SG&A in Fiscal 2023.
- Potential labor disputes with non-unionized employees may negatively affect operations.
- Increased interest rates could require greater payments, impacting financial operations.
- Cybersecurity attacks pose a significant risk, especially with remote work arrangements.
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.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=75288&owner=exclude
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