The company posted revenues of US$11.3 billion for the period, unchanged year-on-year (down 3% on a currency-neutral basis). Growth in wholesale, which rose 5% to US$6.5 billion, helped offset a 4% decline in direct-to-consumer sales to US$4.5 billion.
Performance varied by region. North America showed growth, while Europe, the Middle East and Africa (EMEA) and Greater China saw declines. Converse revenues dropped sharply by 35% across all markets.
CEO Elliott Hill said the company had taken “meaningful actions to improve the health and quality of our business”, though progress remained uneven. CFO Matthew Friend added that ongoing restructuring efforts would continue to impact results in the near term but expressed confidence in long-term profitable growth.
