7 unchanged sentences
Interest Rates
−Removed: Until February 4, 2025, our ABL Credit Facility bears interest at a floating rate equal to the prime rate plus 2.000% or SOFR, plus 0.100%, plus 3.000%.
−Removed: As of November 2, 2024, we had $362.4 million in borrowings under our ABL Credit Facility.
+Added: On the first day of each fiscal quarter, based on the amount of our average daily excess availability under the ABL Credit Facility, borrowings outstanding under the facility bear interest, at our option, at (i) the prime rate per annum, plus a margin of 1.750% or 2.000%;
+Added: or (ii) the SOFR per annum, plus 0.100%, plus a margin of 2.750% or 3.000%.
+Added: As of May 3, 2025, we had $258.6 million in borrowings under our ABL Credit Facility.
A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
−Removed: Our 2021 Term Loan bore interest, payable monthly, at (a) the SOFR per annum plus 2.750% for any portion that was a SOFR loan, or (b) the base rate per annum plus 2.000% for any portion that was a base rate loan.
−Removed: As of April 18, 2024, our 2021 Term Loan was fully repaid.
−Removed: The New Mithaq Term Loan requires monthly payments equivalent to interest charged at the SOFR per annum plus 4.000% per annum, with such monthly payments to Mithaq deferred until April 30, 2025.
+Added: The New Mithaq Term Loan requires monthly payments equivalent to interest charged at the SOFR per annum plus 4.000% per annum, with the first year’s monthly payments to Mithaq deferred until April 30, 2025.
+Added: On April 28, 2025, the Company and Mithaq entered into Amendment No.
+Added: 1 to the New Mithaq Term Loan promissory note, which subjected these deferred monthly payments due as of April 30, 2025 to a payment plan, payable in installments prior to the end of Fiscal 2025.
A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
−Removed: As of November 2, 2024, we had no borrowings under our Mithaq Credit Facility.
+Added: As of May 3, 2025, we had no borrowings under our Mithaq Credit Facility.
If any debt is incurred under the Mithaq Credit Facility, it shall require monthly payments equivalent to interest charged at the SOFR plus 5.000% per annum.
−Removed: A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
Assets and Liabilities of Foreign Subsidiaries
Assets and liabilities outside the United States are primarily located in Canada and Hong Kong, where our investments in our subsidiaries are considered long-term.
−Removed: As of November 2, 2024, net liabilities in Canada and Hong Kong amounted to $12.9 million.
+Added: As of May 3, 2025, net liabilities in Canada and Hong Kong amounted to $17.4 million.
A 10% increase or decrease in the Canadian and Hong Kong foreign currency exchange rates would increase or decrease the corresponding net investment by $1.7 million.
−Removed: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive income (loss).
−Removed: As of November 2, 2024, we had $3.4 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.5 million was in India, $1.2 million was in China, $0.3 million was in Canada, $0.2 million was in Hong Kong, and $$0.2 million was held in other foreign countries.
+Added: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive loss.
+Added: As of May 3, 2025, we had $3.6 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.1 million was in China, $0.9 million was in India, $0.5 million was in Canada, $0.2 million was in Hong Kong, and $0.9 million was held in other foreign countries.
+Added: We have subsidiaries whose operating results are based in foreign currencies and are thus subject to the fluctuations of the corresponding translation rates into U.S.
+Added: The table below summarizes the average translation rates that most significantly impact our operating results:
+Added: Thirteen Weeks Ended
+Added: Average Translation Rates (1)
+Added: Canadian dollar 0.7049 0.7364
+Added: Hong Kong dollar 0.1287 0.1278
+Added: ____________________________________________
+Added: (1) The average translation rates are the average of the monthly translation rates used during each fiscal year to translate the respective income statements.
+Added: Each rate represents the U.S.
+Added: dollar equivalent of the respective foreign currency.
Foreign Operations
−Removed: We have exchange rate exposure primarily with respect to certain revenues and expenses denominated in Canadian dollars.
+Added: We have exchange rate exposure primarily with respect to certain revenues and expenses denominated in Canadian and Hong Kong dollars.
As a result, fluctuations in exchange rates impact the amount of our reported sales and expenses.
−Removed: Assuming a 10% change in foreign currency exchange rates, Year-To-Date 2024 net sales would have decreased or increased by approximately $7.7 million, and total costs and expenses would have decreased or increased by approximately $10.8 million.
+Added: Assuming a 10% change in foreign currency exchange rates, the First Quarter 2025 net sales would have decreased or increased by approximately $1.8 million, and total costs and expenses would have decreased or increased by approximately $2.2 million.
Additionally, we have foreign currency denominated receivables and payables that, when settled, result in transaction gains or losses.
A 10% change in foreign currency exchange rates would not result in a significant transaction gain or loss in earnings.
−Removed: We import a vast majority of our merchandise from foreign countries, primarily Vietnam, Bangladesh, Ethiopia, Cambodia, Kenya, India, and China.
+Added: We import a vast majority of our merchandise from foreign countries, primarily Bangladesh, Vietnam, India, Kenya, Ethiopia, China, and Indonesia.
Consequently, any significant or sudden change in the political, foreign trade, financial, banking, currency policies and practices, or the occurrence of significant labor unrest in these countries or changes in foreign policies of the United States, could have a material adverse impact on our business, financial position, results of operations, and cash flows.
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.