What the business leans on

1. 1The company does not own or operate manufacturing facilities; most finished goods are made by contract manufacturers outside the United States, generally without long-term manufacturing volume commitments.
2. 2Production is concentrated in a small number of countries: Vietnam, Bangladesh, Indonesia and India made most apparel, accessories and equipment in 2025, while Vietnam made about 80% of footwear (2025, high).
3. 3It depends on wholesale orders and consumer demand for seasonal products; wholesale orders can be cancelled and demand is affected by weather and discretionary spending.
4. 4In Canada, the two largest wholesale customers accounted for approximately 30% of segment net sales (2025, high).