2024 Outlook:
Full Year 2024 Guidance
- Revenue is projected to decrease 6% to 7% as compared to 2023 (decrease 6% to 7% on a constant currency basis), inclusive of a 2% reduction related to the sale of the Heritage Brands women’s intimates business and a 1% reduction from the 53rd week in 2023.
- Operating margin is projected to be approximately flat compared to 10.1% in 2023.
- EPS is projected to be in a range of $10.75 to $11.00 compared to $10.76 on a GAAP basis and $10.68 on a non-GAAP basis in 2023. The 2024 EPS projection includes the estimated negative impact of approximately $0.10 per share related to foreign currency translation. EPS on a GAAP basis for 2023 included the amounts described under the heading “Non-GAAP Exclusions” later in this release. EPS on a non-GAAP basis for 2023 excluded these amounts.
- Interest expense is projected to be relatively flat as compared to $88 million in 2023.
- Effective tax rate is projected to be approximately 21%.
