How this effin Mccarvel can keep his job? Every earnings release has been basically the same result...How do you not do some kind of pre-announcement when things are going to be this bad? The guy should be embarrassed.
Probably should have done a pre-announcement but it could be: (1) their accounting controls/systems might simply not be that good. Some reasonable reasons to believe this is that they are doing an ERP implementation plus they are big in China which is notorious for being difficult. (2) they might be making running the business a priority rather than managing shareholder expectations.
Personally, I think now is an opportune time to buy into a world-wide brand that is still growing at a very healthy rate.