The earnings call presents mixed signals: strong retail and digital sales growth, particularly in owned brands like Donna Karan and Karl Lagerfeld, contrasts with challenges in the wholesale segment due to expired licenses and tariff impacts. The Q&A reveals management's cautious optimism and strategic focus on owned brands, but also highlights uncertainties in guidance and gross margin recovery. Despite positive trends in certain areas, the lack of specific guidance and tariff pressures suggest a balanced outlook, leading to a neutral sentiment prediction for the stock price.