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If consumer demand next year weakens and specifically, if it turns out to be weaker than the outlook that vendors and retailers have used to set their production forecast, then we should continue to see a fairly plentiful supply of off-price.
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2022 Q3
29 Nov 22
You don't need to come to our stores if you can get great deals elsewhere.
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2022 Q3
29 Nov 22
we continue to invest in our growth with over $500 million in forecasted CAPEX this year
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2022 Q3
29 Nov 22
I think over the next few years, we should be able to get back to 2019 levels
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2022 Q3
29 Nov 22
three things; sales, freight and supply chain expenses, and merchant margin gives me confidence that we can get back to 2019 levels
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2022 Q3
29 Nov 22
we're more opportunistically buying merchandise provides us with an opportunity to run a higher merchandise margin because we're buying the goods at a better deal. But that's not an opportunity that we're going after in Q4, I think as we've said, and it may not be an opportunity that we really want to go after in 2023 because I think our focus is really to drive sales by offering the best value that we can.
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2022 Q3
29 Nov 22
The buying environment right now is tremendous across brands, across categories.
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2022 Q3
29 Nov 22
we think Q4 could be quite promotional. And we feel like we have factored that in appropriately to our guidance
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2022 Q3
29 Nov 22
in specialty, I think there's still a lot of inventory
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2022 Q3
29 Nov 22
some of the more specialty retailers continue to have high inventories heading into the fourth quarter
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2022 Q3
29 Nov 22
players like Walmart and Target seem more clean on apparel inventory, perhaps that's an opportunity for next year
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2022 Q3
29 Nov 22
if you look at our balance sheet at the end of the third quarter, we had nearly $1.3 billion in liquidity, including $429 million in cash
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2022 Q3
29 Nov 22
we expect fourth quarter EBIT margin, as you said, to be flattish to slightly above Q4 2021
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2022 Q3
29 Nov 22
we're lapping onetime incentives and hiring expenses in our distributions from last year
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2022 Q3
29 Nov 22
given the improved one-year comps for the fourth quarter, expense deleverage moderates somewhat on each line in the P&L, particularly in SG&A. And then coming down to gross margin, we expect to see favorability or leverage and freight expense,
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2022 Q3
29 Nov 22
given the dynamics of what's happening in transportation costs, that headwind is moderating
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2022 Q3
29 Nov 22
since mid-October we've seen a pickup in the sales trend. And despite a warm start to November, our month-to-date sales trend is slightly above the high end of our guidance range.
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2022 Q3
29 Nov 22
4Q guide from a margin perspective, I think -- so you're calling for flat to up slightly EBIT margin
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2022 Q3
29 Nov 22
our overriding focus in this environment is to offer great value in order to drive the sales trend, and that means that we'll be passing along great deals to our shoppers
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2022 Q3
29 Nov 22
it sounds like the off-price volume environment is very attractive. Does this mean there might be some merch margin upside in 4Q
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2022 Q3
29 Nov 22