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we're not seeing a slowdown in the contract side of the business
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2023 Q2
24 Sep 23
we've seen quite a few notable wins, San Antonio Spurs training facility, Sony in the entertainment space and multiple projects with the Montage, Four Seasons, Westin, Hilton and Hyatt
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2023 Q2
24 Sep 23
the contract business, which is the source of our growth and really where our focus is, grew 23% in the quarter to achieve our largest quarter to date in contract
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2023 Q2
24 Sep 23
we are seeing relative strength in kitchen purchases, fashion textiles, dorm, baby and seasonal holidays
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2023 Q2
24 Sep 23
We are in a period where consumers are buying fewer large-ticket furniture pieces than they did a year ago, as they shift their spending.
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2023 Q2
24 Sep 23
with Marriott and Starbucks, both names everyone knows, we saw our best quarter ever.
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2023 Q1
24 May 23
We completed office projects with Salesforce, Dan's Corporation, Republic Airways.
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2023 Q1
24 May 23
In our residential developer business, we continue to expand our portfolio with key industry names, such as [Indiscernible] Pulte and Lennar.
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2023 Q1
24 May 23
On the bottom line, we continue to foresee gross margin pressures
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2023 Q1
24 May 23
n the back half of the year, these headwinds should turn into tailwinds
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2023 Q1
24 May 23
Selling margin continue to be impacted by higher outbound customer shipping costs as well.
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2023 Q1
24 May 23
However, we are seeing strength in our exclusive decorating and textiles categories as customers choose to postpone bigger redesigned projects to focus on easy updates.
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2023 Q1
24 May 23
We are seeing subdued demand in our furniture business with customers demonstrating more caution on high ticket considered purchases. And in our outdoor business, we are seeing delayed purchasing till later in the summer season versus early spring.
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2023 Q1
24 May 23
In terms of demand, our trends softened from negative mid-single-digits in Q4 to down 10% in Q1. The softness in demand was most notable in our high ticket furniture offerings, but we didn't see that same trend in our high ticket electronics and kitchen offerings.
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2023 Q1
24 May 23
the backlog is normalized
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2023 Q1
24 May 23
our lower balance sheet inventory growth reflected 46% reduction in merchandising transit
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2023 Q1
24 May 23
versus 2019 highlights how we've improved our inventory turnover, as our on hand inventory levels have increased only 19% against revenue growth of over 41% during that time
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2023 Q1
24 May 23
Merchandise inventories, which include in transit inventory, at $1.402 billion were essentially flat year-over-year, while inventory on hand increased 28% over last year.
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2023 Q1
24 May 23
On the top line, our year-over-year demand comparisons and last year's high back order fill, coupled with the declining macro will yield negative comps.
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2023 Q1
24 May 23
the consumer is becoming increasingly cautious
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2023 Q1
24 May 23