The company has had the second-best holiday season of its existence and is feeling positive about its fourth quarter even amid a slight dip from last year.
“Following record performance last year, we achieved our second highest holiday sales period in company history,” said Jay Schottenstein, Executive Chairman and CEO. “I am pleased to see profit margins tracking at the high end of our expectations, powered by excellent inventory management and promotional discipline. Looking ahead, we are focused on delivering a leading customer experience across brands, while prioritising free cash flow and shareholder returns.”
“While significant progress has been made in right-sizing inventory, management is taking a cautious view given what is likely to be a highly promotional holiday season,” Schottenstein said in the company’s third-quarter earnings release.
