5 unchanged sentences
The Company faces market risk to the extent that changes in foreign currency exchange rates affect the Company’s foreign assets, liabilities and inventory purchase commitments.
−Removed: The Company manages these risks by attempting to denominate contractual and other foreign arrangements in U.S.
+Added: The Company manages these risks by attempting to denominate
+Added: contractual and other foreign arrangements in U.S.
The Company does not believe that there has been a material change in the nature of the Company’s primary market risk exposures, including the categories of market risk to which the Company is exposed and the particular markets that present the primary risk of loss to the Company.
8 unchanged sentences
wholesale operations in the normal course of business as well as to manage foreign currency translation exposure.
−Removed: At December 28, 2024 and December 30, 2023, the Company had outstanding forward currency exchange contracts to purchase primarily U.S.
+Added: At January 3, 2026 and December 28, 2024, the Company had outstanding forward currency exchange contracts to purchase primarily U.S.
dollars in the amounts of $248.1 million and $263.5 million, respectively, with maturities ranging up to 503 and 531 days, respectively.
9 unchanged sentences
dollar are generally considered long-term.
−Removed: At December 28, 2024, a stronger U.S.
−Removed: dollar compared to certain foreign currencies decreased the value of these
−Removed: investments in net assets by $16.5 million from their value at December 30, 2023.
−Removed: At December 30, 2023, a weaker U.S.
+Added: At January 3, 2026, a weaker U.S.
dollar compared to certain foreign currencies increased the value of these investments in net assets by $22.5 million from their value at December 28, 2024.
+Added: At December 28, 2024, a stronger U.S.
+Added: dollar compared to certain foreign currencies decreased the value of these investments in net assets by $16.5 million from their value at December 30, 2023.
Interest Rate Risk
−Removed: The Company is exposed to interest rate changes primarily as a result of interest expense on the Incremental Term Loan borrowings and any borrowings under the Revolving Facility.
−Removed: The Company’s total variable-rate debt was $102.5 million at December 28, 2024 and the Company held a forward-dated interest rate swap agreement, denominated in U.S.
−Removed: dollars that will effectively convert $16.7 million of this amount to fixed-rate debt.
−Removed: The interest rate swap derivative instrument is held and used by the Company as a tool for managing interest rate risk.
−Removed: The counterparty to the swap instrument is a large financial institution that the Company believes is of high-quality creditworthiness.
−Removed: While the Company may be exposed to potential losses due to the credit risk of non-performance by this counterparty, such losses are not anticipated.
−Removed: The fair value of the interest rate swap was determined to be a net asset of $0.2 million as of December 28, 2024.
−Removed: As of December 28, 2024, the weighted-average interest rate on the Company’s variable-rate debt, net of the impact of the interest rate swap, was 5.84%.
+Added: The Company is exposed to interest rate changes primarily as a result of interest expense on any borrowings under the Revolving Facility.
+Added: The Company’s total variable-rate debt was $75.0 million at January 3, 2026 .
+Added: As of January 3, 2026 , the weighted-average interest rate on the Company’s variable-rate debt was 6.12% .
Based on the level of variable-rate debt outstanding as of that date, a 100 basis point increase in the weighted-average interest rate would have increased the Company’s annual pre-tax interest expense by approximately $0.8 million.
1 unchanged sentence
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.