Revenue Growth and Comparable Sales
Net revenues increased 14.0% on a reported basis and 13.4% in constant currency, with growth across all reportable segments; comparable store sales rose 12% globally, led by 13% growth in digital commerce and 12% in brick-and-mortar.
Gross Margin Expansion
Gross margin expanded 140 basis points to 73.7%, primarily driven by AUR growth and, to a lesser extent, favorable channel and geographic mix, more than offsetting pressure from tariffs and other product costs.
SG&A Leverage
SG&A expenses as a percentage of net revenues declined 20 basis points to 55.0%, reflecting operating leverage on higher revenues, while absolute spending increased 13.4% primarily due to investments and compensation costs.