Sees FY24 revenue down 1% to up 1%, consensus $8.06B. Sees FY24 comparable sales up 1%-3%. Sees FY24 capital expenditures $345M. Sees FY24 tax rate 35%-36%. Mike Baughn, executive VP and CFO, said, “We maintain conviction in the longer-term earnings potential that our Lace Up plan will generate and reiterate the 8.5-9% EBIT margin target communicated at our March 2023 Investor Day. Given our lower starting point exiting 2023, we expect a two-year delay in achieving that goal and now see reaching that target by 2028.”
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