4 unchanged sentences
Our consolidated financial statements are presented in U.S.
−Removed: Therefore, the net revenue, expenses, assets, and liabilities of
−Removed: our international subsidiaries are translated from their functional currencies into U.S.
+Added: Therefore, the net revenue, expenses, assets, and liabilities of our international subsidiaries are translated from their functional currencies into U.S.
Fluctuations in the value of the U.S.
1 unchanged sentence
As a result of the fluctuation in exchange rates compared to the U.S.
−Removed: dollar our revenue was $75.3 million lower in 2024 in comparison to 2023.
+Added: dollar our revenue was $27.6 million higher in 2025 in comparison to 2024.
Foreign currency exchange differences which arise on translation of our international subsidiaries' balance sheets into U.S.
2 unchanged sentences
We enter into forward currency contracts in order to hedge a portion of the foreign currency exposure associated with the translation of our net investment in our Canadian subsidiary.
−Removed: During 2024, the impact to other comprehensive loss of translation of our Canadian subsidiaries was an increase in the loss of $134.8 million, inclusive of net investment hedge gains.
+Added: During 2025, the impact to other comprehensive loss of translation of our Canadian subsidiaries was a reduction in the loss of $120.4 million, inclusive of net investment hedge gains.
Transaction Risk .
4 unchanged sentences
We perform a sensitivity analysis to determine the market risk exposure associated with the fair values of our forward currency contracts.
−Removed: The net fair value of outstanding derivatives as of February 2, 2025 was an asset of $2.2 million.
+Added: The net fair value of outstanding derivatives as of February 1, 2026 was a liability of $5.5 million.
As of February 1, 2026, a 10% depreciation in the U.S.
1 unchanged sentence
The hypothetical change in the fair value of the forward currency contracts would have been substantially offset by a corresponding but directionally opposite change in the underlying hedged items.
+Added: The net fair value of our outstanding forward currency contracts declined as of February 1, 2026 compared to February 2, 2025 primarily due to foreign currency exchange rate movement on the derivative financial instruments.
In the future, in an effort to reduce foreign currency exchange risks, we may enter into further derivative financial instruments including hedging additional currency pairs.
5 unchanged sentences
Because our revolving credit facilities bear interest at a variable rate, we will be exposed to market risks relating to changes in interest rates, if we have a meaningful outstanding balance.
−Removed: As of February 2, 2025, aside from letters of credit of $6.1 million, there were no borrowings outstanding under these credit facilities.
+Added: As of February 1, 2026, there were no borrowings outstanding under this facility other than letters of credit and guarantee of $6.4 million.
We currently do not engage in any interest rate hedging activity and currently have no intention to do so.
9 unchanged sentences
The credit risk amount is our unrealized gains on our derivative instruments, based on foreign currency rates at the time of nonperformance.
−Removed: We have not experienced any losses related to these items, and we believe credit risk to be minimal.
−Removed: We seek to minimize our credit risk by entering into transactions with investment grade credit worthy and reputable financial institutions and by monitoring the credit standing of the financial institutions with whom we transact.
−Removed: We seek to limit the amount of exposure with any one counterparty.
−Removed: Inflationary factors such as increases in the cost of our product, as well as overhead costs and capital expenditures may adversely affect our operating results.
−Removed: Sustained increases in transportation costs, wages, and raw material costs, or other inflationary pressures in the future may have an adverse effect on our ability to maintain current levels of operating margin if the selling prices of our products do not increase with these increased costs, or we cannot identify cost efficiencies.
−Removed: Inflationary pressures could also reduce consumer spending and impact the demand for our products.
+Added: We seek to minimize our credit risk by entering into transactions with investment-grade, creditworthy, and reputable financial institutions, by monitoring their credit standing, and by limiting exposure to any one counterparty.
+Added: We have not experienced material losses related to these items, and based on information available, we do not believe credit risk exposure is significant.
+Added: Inflationary pressures, including higher product, transportation, labor and raw material costs, may adversely affect our operating results if we are unable to offset them through pricing or operating efficiencies.
+Added: Inflation could also reduce consumer discretionary spending and negatively impact the demand for our products.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.