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It was really that mid-June to late June time frame.
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2022 Q2
8 Sep 22
That’s really continued through July, continues into sort of early mid-August
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2022 Q2
8 Sep 22
we’ve definitely seen some improvement in recent weeks here
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2022 Q2
8 Sep 22
what happened really mid to late June, just as others have talked about, we did see a deceleration to trend as we got into summer.
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2022 Q2
8 Sep 22
we saw slowdown in demand this summer.
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2022 Q2
8 Sep 22
we expect third quarter gross margin to be in the mid-30s and fourth quarter in the low 30s
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2022 Q2
8 Sep 22
We are also anticipating freight relief as we lap significant use of airfreight linked to the Vietnam factory closures last year
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2022 Q2
8 Sep 22
we expect to end the third quarter with inventory up in the mid-single digits and fourth quarter ending inventory down to last year. We anticipate promotional intensity to remain high across retail in the back half of the year.
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2022 Q2
8 Sep 22
we expect Ares margins to show a meaningful recovery back to double digits in the second half.
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2022 Q2
8 Sep 22
we saw some pressure on margins due to a higher number of new store openings, which are still in their ramp-up period.
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2022 Q2
8 Sep 22
larger impact from sell-offs, to
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2022 Q2
8 Sep 22
clear inventory and in-season promotions, fell mostly acutely in the second quarter due to the timing of Aerie’s seasonal clearance activity.
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2022 Q2
8 Sep 22
the majority of categories posted increases to last year, undies, leggings, apparel and accessories, all posting positive growth.
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2022 Q2
8 Sep 22
reflects higher markdowns as a result of the current demand environment and our seasonal clearance cadence
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2022 Q2
8 Sep 22
SG&A dollars approximately flat to last year in the second half compared to prior guidance for low to mid-single-digit growth.
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2022 Q2
8 Sep 22
We’ve implemented a hiring freeze and paused noncritical spending.
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2022 Q2
8 Sep 22
SG&A deleveraged 110 basis points compared to the second quarter of 2021. The mid-single-digit dollar increase was in line with guidance provided last quarter led by higher wages for store associates, new store opening expense as well as increased corporate compensation, advertising and professional services.
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2022 Q2
8 Sep 22
We leaned on end-of-season sell-offs to fully clear out all excess spring and summer goods,
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2022 Q2
8 Sep 22
Higher freight costs were a 200 basis point headwind to the gross margin rate and the integration of our supply chain acquisitions drove 60 basis points of incremental deleverage.
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2022 Q2
8 Sep 22
Our AUR in the second quarter was the second highest achieved in the history of the company, down only 4% to last year.
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2022 Q2
8 Sep 22