• Margin and volume outlook: Page Industries achieved an EBITDA margin of 20.3% in Q1 and expects to sustain full-year margins between 19% and 21% alongside an acceleration to double-digit volume growth.
• Athleisure growth strategy: Athleisure contributes significantly to revenue across four product categories, with company-wide marketing expenditure maintained at 4% to 5% of net revenue to drive brand awareness.
• Exclusive brand outlets: Management affirmed strong franchisee demand and healthy channel returns, noting that exclusive branded stores typically reach break-even within seven months to one year.
• Royalty and operations: The royalty rate remains fixed at 5% under an agreement with Jockey running through 2040, while third-party logistics disruptions experienced in late June were temporary and require no operational shift.