Slide 1: Q1 FY25 Results Presentation
Q1 FY25 RESULTS PRESENTATION Agenda Opening Remarks Financial Results Business Update Q&A 2
Slide 2: Q1 FY25 Financial Summary
Agenda Opening Remarks Financial Results Business Update Q&A 3 Q1 FY25 | FINANCIAL SUMMARY • Q1 comparable store sales -21% (vs Q1 FY24 +18%) • Operating against a backdrop of slowing luxury demand with macroeconomic uncertainty in all key regions contributing to a sector slowdown • Weakness highlig
Slide 3: Regional Retail Comparable Sales Growth; Retail Sales Growth
Q1 FY25 | REGIONAL RETAIL COMPARABLE SALES GROWTH GROUP Q1 -21% EMEIA Q1 -16% AMERICAS Q1 -23% ASIA PACIFIC Q1 -23% Mainland China Q1 -21% FY24 Total Retail Sales Americas 21% Asia Pacific 50% EMEIA 29% Note: Comp - Comparable store sales growth at CER for the 13 weeks to 29 June 2024 5 Q1 FY25 | RE
Slide 4: FY25 Outlook
FY25 OUTLOOK • The slowdown in trading we experienced in Q1 FY25 continued into July. If this trend were to continue through this quarter, we would expect to report an H1 FY25 operating loss and FY25 operating profit to be below current consensus. • As we navigate this period, we have decided to sus
Slide 5: FY25 Priorities and Near-Term Actions; Appointment of Joshua Schulman as CEO
FY25 PRIORITIES NEAR-TERM ACTIONS Product Brand Distribution Reshaping marketing plans; launch of dedicated global outerwear campaign in October Refine Strong pipeline of product Build out full product Enhance retail store brand expression and deliveries from July, including offer, ensuring balance
Slide 6: Appendix: Disclaimer
Appendix 11 DISCLAIMER The financial information contained in this presentation is unaudited. Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual
Slide 7: Alternative Performance Measures; FY25 Financial Outlook
ALTERNATIVE PERFORMANCE MEASURES All metrics and commentary in this presentation are at reported FX and exclude adjusting items unless stated otherwise. Constant exchange rates (CER) removes the effect of changes in exchange rates. The constant exchange rate incorporates both the impact of the movem
Slide 8: Foreign Exchange Rates; Investor Relations Contacts
FOREIGN EXCHANGE RATES FORECAST EFFECTIVE AVERAGE ACTUAL AVERAGE EXCHANGE RATES RATES FOR FY25 EXCHANGE RATES £1= 28 June 2024 25 April 2024 FY24 Euro 1.18 1.17 1.16 US Dollar 1.26 1.25 1.26 Chinese Yuan Renminbi 9.18 9.06 9.01 Hong Kong Dollar 9.87 9.80 9.84 Korean Won 1,747 1,720 1,657 Japanese Ye