Schedule of Segment Reporting Information, by Segment |
Summarized financial information for the Company’s reportable segments is shown in the following tables, including significant segment expenses that are regularly reviewed by the CODM.
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Three Months Ended June 28, 2025 |
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Direct selling |
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Hiya direct-to-consumer |
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Other |
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Total |
Net sales (1)
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$ |
199,128 |
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$ |
33,931 |
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$ |
2,789 |
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$ |
235,848 |
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Less: |
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Cost of sales |
36,294 |
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|
12,287 |
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|
1,603 |
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|
50,184 |
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Brand Partner incentives |
86,925 |
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— |
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|
115 |
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|
87,040 |
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Selling, general and administrative (2)
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62,034 |
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17,920 |
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|
1,952 |
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|
81,906 |
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Segment earnings (loss) from operations |
$ |
13,875 |
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$ |
3,724 |
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$ |
(881) |
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$ |
16,718 |
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Reconciliation of segment earnings from operations |
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Interest income |
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619 |
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Interest expense |
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(259) |
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Other, net |
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1,739 |
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Earnings before income taxes |
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$ |
18,817 |
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______________________________
(1)The direct selling segment excludes $1,183 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $4,456 and $309 for the Hiya segment and other category, respectively.
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Three Months Ended June 29, 2024 |
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Direct selling |
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Other |
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Total |
Net sales (1)
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$ |
211,208 |
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$ |
1,661 |
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$ |
212,869 |
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Less: |
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Cost of sales |
39,446 |
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|
887 |
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|
40,333 |
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Brand Partner incentives |
90,239 |
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132 |
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90,371 |
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Selling, general and administrative (2)
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62,554 |
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1,771 |
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|
64,325 |
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Segment earnings (loss) from operations |
$ |
18,969 |
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$ |
(1,129) |
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$ |
17,840 |
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Reconciliation of segment earnings from operations |
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Interest income |
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2,763 |
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Interest expense |
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(51) |
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Other, net |
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(349) |
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Earnings before income taxes |
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$ |
20,203 |
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______________________________
(1)The direct selling segment excludes $558 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $372 for the other category.
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Six Months Ended June 28, 2025 |
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Direct selling |
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Hiya direct-to-consumer |
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Other |
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Total |
Net sales (1)
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$ |
409,579 |
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$ |
71,020 |
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$ |
4,788 |
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$ |
485,387 |
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Less: |
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Cost of sales |
73,474 |
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|
26,394 |
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|
2,761 |
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|
102,629 |
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Brand Partner incentives |
176,768 |
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— |
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|
257 |
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|
177,025 |
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Selling, general and administrative (2)
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127,975 |
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|
41,433 |
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|
3,936 |
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|
173,344 |
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Segment earnings (loss) from operations |
$ |
31,362 |
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$ |
3,193 |
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$ |
(2,166) |
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$ |
32,389 |
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Reconciliation of segment earnings from operations |
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Interest income |
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1,342 |
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Interest expense |
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(670) |
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Other, net |
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2,495 |
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Earnings before income taxes |
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$ |
35,556 |
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______________________________
(1)The direct selling segment excludes $1,946 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of and $8,911 and $615 for the Hiya segment and other category, respectively.
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Six Months Ended June 29, 2024 |
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Direct selling |
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Other |
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Total |
Net sales (1)
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$ |
437,356 |
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$ |
3,313 |
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$ |
440,669 |
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Less: |
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Cost of sales |
81,714 |
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1,688 |
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|
83,402 |
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Brand Partner incentives |
185,796 |
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333 |
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186,129 |
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Selling, general and administrative (2)
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125,284 |
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3,341 |
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128,625 |
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Segment earnings (loss) from operations |
$ |
44,562 |
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$ |
(2,049) |
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$ |
42,513 |
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Reconciliation of segment earnings from operations |
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Interest income |
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5,439 |
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Interest expense |
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(103) |
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Other, net |
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(535) |
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Earnings before income taxes |
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$ |
47,314 |
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______________________________
(1)The direct selling segment excludes $978 of intersegment net sales.
(2)Includes amortization of acquired intangible assets of $741 for the other category.
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Three Months Ended |
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Six Months Ended |
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June 28, 2025 |
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June 29, 2024 |
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June 28, 2025 |
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June 29, 2024 |
Depreciation and amortization: |
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Direct selling |
$ |
2,949 |
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$ |
3,457 |
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$ |
6,469 |
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$ |
6,256 |
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Hiya direct-to-consumer |
4,468 |
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— |
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8,951 |
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— |
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Other |
326 |
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356 |
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662 |
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|
715 |
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Consolidated total |
$ |
7,743 |
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$ |
3,813 |
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$ |
16,082 |
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$ |
6,971 |
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Schedule of Revenue by Geographic Region |
Financial information, presented by geographic region is listed below:
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Three Months Ended |
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Six Months Ended |
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June 28, 2025 |
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June 29, 2024 |
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June 28, 2025 |
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June 29, 2024 |
Net sales to external customers: |
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Asia Pacific |
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Greater China |
$ |
113,171 |
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$ |
115,513 |
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$ |
231,917 |
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$ |
243,128 |
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Southeast Asia Pacific |
32,887 |
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35,402 |
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68,607 |
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71,467 |
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North Asia |
17,166 |
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19,710 |
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36,107 |
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41,131 |
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Asia Pacific total |
163,224 |
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170,625 |
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336,631 |
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355,726 |
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Americas and Europe (1)
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72,624 |
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42,244 |
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148,756 |
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|
84,943 |
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Consolidated total |
$ |
235,848 |
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$ |
212,869 |
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$ |
485,387 |
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$ |
440,669 |
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______________________________
(1)Includes results of the Hiya direct-to-consumer segment.
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Schedule of Markets Representing Ten Percent Or More of Consolidated Net Sales and Long-Lived Assets |
The following table provides further information on markets representing ten percent or more of consolidated net sales and long-lived assets (excluding intangible assets), respectively:
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Three Months Ended |
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Six Months Ended |
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June 28, 2025 |
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June 29, 2024 |
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June 28, 2025 |
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June 29, 2024 |
Net sales: |
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China |
$ |
102,105 |
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$ |
105,115 |
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$ |
209,795 |
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$ |
220,869 |
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United States (1)
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54,082 |
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|
21,640 |
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|
112,005 |
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|
43,804 |
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______________________________
(1)Includes results of the Hiya direct-to-consumer segment.
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As of |
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June 28, 2025 |
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December 28, 2024 |
Long-lived assets: |
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United States |
$ |
80,115 |
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$ |
81,459 |
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China
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30,617 |
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29,304 |
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