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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Aug. 31, 2024

Aug. 31, 2023

Aug. 31, 2022

Aug. 31, 2021

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Item 402(v) of Regulation

S-K,

we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s core compensation objectives, refer to the “

Compensation Discussion and Analysis

” above.


													Value of Initial Fixed $100 Investment Based on:

Fiscal Year	Summary Compensation Table Total for PEO ($) (1)				Compensation Actually Paid to PEO ($) (2)				Average Summary Compensation Table Total for Non-PEO NEOs ($) (3)		Average Compensation Actually Paid to Non-PEO NEOs ($) (4)		Total Shareholder Return ($) (5)		Peer Group Total Shareholder Return ($) (6)		Net Income ($) (7) (in thousands)		Adjusted Operating Income ($) (8) (in thousands)

(a)	(b)				(c)				(d)		(e)		(f)		(g)		(h)		(i)

	Robert Price		Sherry Bahrambeygui		Robert Price		Sherry Bahrambeygui

2024		$ —		N/A		$ —		N/A		$ 6,102,552		$ 7,396,819		$ 144		$ 127		$ 138,875		$ 220,944

2023		—		$ 8,595,042		—		$ 5,356,031		1,821,651		1,994,184		125		103		109,205		205,128

2022		N/A		10,182,186		N/A		7,318,252		1,634,296		1,282,071		98		90		104,553		178,592

2021		N/A		7,550,113		N/A		9,430,543		1,260,906		1,631,591		130		113		98,159		151,678

(1)	The dollar amounts reported in column (b) are the amounts of total compensation reported in the “Total” column of the “Summary Compensation Table” for Mr. Price and for the corresponding years in which he served as our Interim Chief Executive Officer.

(2)

The dollar amounts reported in column (c) represent the amounts of “compensation actually paid” to Mr. Price, as computed in accordance with Item 402(v) of Regulation

S-K,

for the fiscal years in which he served as our Interim Chief Executive Officer. The dollar amounts do not reflect the actual amount of compensation earned by or paid to him during the applicable year. In accordance with the requirements of Item 402(v) of Regulation

S-K,

the following adjustments were made to the Summary Compensation Table total compensation for each year to determine the compensation actually paid for the relevant fiscal year:


Year	Reported Summary Compensation Table Total for PEO ($)		Reported Value of Equity Awards ($) (a)			Equity Award Adjustments ($) (b)		Compensation Actually Paid to PEO ($)

Mr. Price

2024		$ —		$ —			$ —	$	—

2023		—		—			—		—

Ms. Bahrambeygui

2024		N/A		N/A			N/A		N/A

2023		8,595,042		(6,237,921	)		2,998,910		5,356,031

2022		10,182,186		(6,286,988	)		3,423,054		7,318,252

2021		7,550,113		(3,576,958	)		5,457,388		9,430,543

(a)	The grant date fair value of equity awards represents the total amounts reported in the “Stock Awards” and “Option Awards” column of the “Summary Compensation Table” for the applicable year.

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the

year-end

fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any equity awards granted in prior years that are outstanding and unvested as of the end of the applicable year; and (iii) for equity awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value. The Company did not (i) grant any equity awards that were granted and vested in the same year or (ii) pay any dividends or other earnings on equity awards that are not otherwise reflected in the fair value of the equity award. The amounts deducted or added in calculating the equity award adjustments are as follows:


	Year-end Fair Value of Unvested Equity Awards Granted in the Year ($)		Year-Over- Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)			Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year		Year- Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)			Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)			Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)		Total Equity Award Adjustments ($)

Price, Robert E.

2024		$ —		$ —			$ —		$ —			$ —			$ —		$ —

2023		—		—			—		—			—			—		—

Bahrambeygui, Sherry S.

2024		N/A		N/A			N/A		N/A			N/A			N/A		N/A

2023		2,919,221		—			2,471,250		(448,033	)		(1,943,528	)		—		2,998,910

2022		3,868,201		(503,048	)		1,127,973		(476,450	)		(593,624	)		—		3,423,054

2021		3,180,659		432,177			1,210,595		(633,958	)		—			—		5,457,388

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding our Chief Executive Officer) in the “Total” column of the “Summary Compensation Table” in each applicable year. The names of the NEOs (excluding our Chief Executive Officer) included for purposes of calculating the average amounts for each applicable year are as follows: (i) for 2024 Michael L. McCleary, John D. Hildebrandt, Francisco Velasco, David N. Price, (ii) for 2023, Michael L. McCleary, John D. Hildebrandt, Francisco Velasco, Ana Luisa Bianchi and Nicolas Maslowski; (iii) for 2022, Mr. McCleary, Mr. Hildebrandt, Mr. Velasco, Juan Ignacio Biehl and William J. Naylon; and (iv) for 2021, Mr. McCleary, Mr. Naylon, Mr. Velasco and Mr. Hildebrandt.

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding our Chief Executive Officer), as computed in accordance with Item 402(v) of Regulation

S-K.

The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our Chief Executive Officer) during the applicable year and were not considered by the Compensation Committee at the time it made decisions with respect to the compensation of the NEOs. In accordance with the requirements of Item 402(v) of Regulation

S-K,

the following adjustments were made to average total compensation for the NEOs as a group (excluding our Chief Executive Officer) for each fiscal year to determine the compensation actually

paid

, using the same methodology described above in Note 2:


Year	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)		Average Reported Value of Equity Awards ($)			Average Equity Award Adjustments ($) (a)		Average Compensation Actually Paid to Non-PEO NEOs ($)

2024		$ 6,102,552		$ (4,907,780)			$ 6,202,047		$ 7,396,819

2023		1,821,651		(614,734)			787,266		1,994,184

2022		1,634,296		(586,315	)		234,091		1,282,071

2021		1,260,906		(368,831	)		739,516		1,631,591

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:


Year	Year-end Fair Value of Unvested Equity Awards Granted in the Year ($)		Year-Over- Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)			Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year		Year- Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)			Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)			Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)		Total Equity Award Adjustments ($)

2024	$	6,123,958	$	59,009		$	—		$ 19,080		$	—		$	—	$	6,202,047

2023		624,093		44,866			178,658		33,492			(93,842	)		—		787,266

2022		295,066		(61,519	)		105,339		(104,796	)		—			—		234,091

2021		342,290		159,235			110,223		127,768			—			—		739,516

(5)

Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.

(6)

Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: the S&P 500 Consumer Discretionary Distribution & Retail Index over the same period.

(7)	The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.

(8)

“Adjusted operating Income” is measured as reported Operating income adjusted for items that are not the result of our normal operations. For fiscal year 2024, no add backs were included. For fiscal year 2023, the Compensation Committee approved add backs for the impact of separation costs associated with our Chief Executive Officer departure, less savings associated with our Interim CEO’s choosing to decline to receive compensation for his services; the

write-off

of certain VAT receivables following unfavorable court rulings; $2.1 million of Aeropost-related write-offs in the first quarter of fiscal year 2023 and $660,000 of a receivable

written-off

in connection with the settlement in the third quarter of fiscal year 2023 of a claim for indemnification from the buyer of the Aeropost business; a $5.1 million adjustment representing 50% of impairment and closure costs and other unbudgeted losses associated with our Trinidad sustainable packaging plant; and a $9.2 million charge to settle minimum tax litigation in one of our markets. While the Company uses various financial and

non-financial

performance measures for the purpose of evaluating performance for the Company’s compensation programs, the Company has determined that Adjusted operating income is the financial performance measure that, in the Company’s and the Compensation Committee’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to Company performance. Reconciliation and further information for Adjusted operating income can be found on Appendix A.

Company Selected Measure Name

Adjusted operating Income

Named Executive Officers, Footnote

(3)

Peer Group Issuers, Footnote

Adjustment To PEO Compensation, Footnote

(2)

The dollar amounts reported in column (c) represent the amounts of “compensation actually paid” to Mr. Price, as computed in accordance with Item 402(v) of Regulation

S-K,

the following adjustments were made to the Summary Compensation Table total compensation for each year to determine the compensation actually paid for the relevant fiscal year:


Year	Reported Summary Compensation Table Total for PEO ($)		Reported Value of Equity Awards ($) (a)			Equity Award Adjustments ($) (b)		Compensation Actually Paid to PEO ($)

Mr. Price

2024		$ —		$ —			$ —	$	—

2023		—		—			—		—

Ms. Bahrambeygui

2024		N/A		N/A			N/A		N/A

2023		8,595,042		(6,237,921	)		2,998,910		5,356,031

2022		10,182,186		(6,286,988	)		3,423,054		7,318,252

2021		7,550,113		(3,576,958	)		5,457,388		9,430,543

(a)	The grant date fair value of equity awards represents the total amounts reported in the “Stock Awards” and “Option Awards” column of the “Summary Compensation Table” for the applicable year.

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the

year-end


	Year-end Fair Value of Unvested Equity Awards Granted in the Year ($)		Year-Over- Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)			Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year		Year- Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)			Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)			Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)		Total Equity Award Adjustments ($)

Price, Robert E.

2024		$ —		$ —			$ —		$ —			$ —			$ —		$ —

2023		—		—			—		—			—			—		—

Bahrambeygui, Sherry S.

2024		N/A		N/A			N/A		N/A			N/A			N/A		N/A

2023		2,919,221		—			2,471,250		(448,033	)		(1,943,528	)		—		2,998,910

2022		3,868,201		(503,048	)		1,127,973		(476,450	)		(593,624	)		—		3,423,054

2021		3,180,659		432,177			1,210,595		(633,958	)		—			—		5,457,388

Non-PEO NEO Average Total Compensation Amount

$ 6,102,552

$ 1,821,651

$ 1,634,296

$ 1,260,906

Non-PEO NEO Average Compensation Actually Paid Amount

$ 7,396,819

1,994,184

1,282,071

1,631,591

Adjustment to Non-PEO NEO Compensation Footnote

(4)

S-K.

S-K,

the following adjustments were made to average total compensation for the NEOs as a group (excluding our Chief Executive Officer) for each fiscal year to determine the compensation actually

paid

, using the same methodology described above in Note 2:


Year	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)		Average Reported Value of Equity Awards ($)			Average Equity Award Adjustments ($) (a)		Average Compensation Actually Paid to Non-PEO NEOs ($)

2024		$ 6,102,552		$ (4,907,780)			$ 6,202,047		$ 7,396,819

2023		1,821,651		(614,734)			787,266		1,994,184

2022		1,634,296		(586,315	)		234,091		1,282,071

2021		1,260,906		(368,831	)		739,516		1,631,591

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:


Year	Year-end Fair Value of Unvested Equity Awards Granted in the Year ($)		Year-Over- Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)			Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year		Year- Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)			Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)			Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)		Total Equity Award Adjustments ($)

2024	$	6,123,958	$	59,009		$	—		$ 19,080		$	—		$	—	$	6,202,047

2023		624,093		44,866			178,658		33,492			(93,842	)		—		787,266

2022		295,066		(61,519	)		105,339		(104,796	)		—			—		234,091

2021		342,290		159,235			110,223		127,768			—			—		739,516

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid and Cumulative TSR; Cumulative TSR of the Company and the S&P 500 Consumer Discretionary Distribution & Retail Index

The following graph sets forth the relationship between the compensation actually paid to Mr. Price, Ms. Bahrambeygui (the prior Chief Executive Officer), the average amount of compensation actually paid to our other NEOs, the Company’s cumulative TSR over the three most recently completed fiscal years and the TSR of the S&P 500 Consumer Discretionary Distribution & Retail Index over the same period.

Compensation Actually Paid vs. Net Income

Compensation Actually Paid and Net Income

The following graph sets forth the relationship between the compensation actually paid to Mr. Price, Ms. Bahrambeygui, the average amount of compensation actually paid to our other NEOs, the average amount of compensation actually paid to our other NEOs, and the Company’s net income over the three most recently completed fiscal years.

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid and Adjusted Operating Income

The following graph sets forth the relationship between compensation actually paid to Mr. Price, Ms. Bahrambeygui, the average amount of compensation actually paid to our other NEOs, the average amount of compensation actually paid to our other NEOs, and our Adjusted operating income during the three most recently completed fiscal years.

Total Shareholder Return Vs Peer Group

Compensation Actually Paid and Cumulative TSR; Cumulative TSR of the Company and the S&P 500 Consumer Discretionary Distribution & Retail Index

Tabular List, Table

Financial Performance Measure

As described in greater detail in the “

Compensation Discussion and Analysis

,” the Company’s executive compensation program reflects a mix of objective financial performance measures that seek to align the interests of the stockholders and executives. These measures include:

•

Adjusted operating income

•

Total revenues

•

Net merchandise sales—constant currency

Total Shareholder Return Amount

$ 144

125

130

Peer Group Total Shareholder Return Amount

127