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2025-11-26 05:59
Full Year 2025 Outlook
The company tightened its full year net sales outlook and upwardly revised its full year 2025 earnings guidance increasing the midpoint of its expected adjusted EBITDA range by $6 million. In addition, the company provided its outlook for the fourth quarter of 2025.
| FY 2025 Outlook* | |
| Net Sales | Down 2.5% - 2.8% |
| Adjusted EBITDA | $395 million to $397 million |
| Net interest expense | ~$125 million |
| Capital Expenditures | $125 million - $130 million |
| Depreciation & Amortization | ~$200 million |
| Net Store Closures | ~20 |
Fourth Quarter 2025 Outlook
| Q4 2025 Outlook* | |
| Net Sales | Down low single digits year over year |
| Adjusted EBITDA | $93 million to $95 million |
*Assumptions in the outlook include that economic conditions, currency rates and the tax and regulatory landscape remain generally consistent, and that current or planned tariffs on imports into the U.S. from other countries remain at November 25, 2025 levels. Adjusted EBITDA is a non-GAAP financial measure and has not been reconciled to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the Securities and Exchange Commission.
| (1) | Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. |