Sees Q2 revenue down 12%, consensus $1.38B. Sees Q2 gross margin up 20-30 basis points. Sees Q2 SG&A decline at high single digit rate. Sees Q2 adjusted operating income $110M-$120M. Says expects to end the year with $500M in cash. Says exceeded expectations in North America. Says believes year-end inventory will be in line with FY24. Comments taken from Q1 earnings conference call.
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