Financial Data and Key Metrics Changes - Net sales for Q4 2025 were $201.9 million, an increase of 9.5% year-over-year, with comparable sales up 8.2% [3][4] - Gross margins for Q4 were 60.4%, down from 61.9% in the previous year, with LIFO charges of $3.9 million impacting results [3][4] - Pre-tax income for Q4 was $10.8 million, resulting in earnings per share of $0.51, compared to $0.49 in the same quarter last year [4][16] Business Line Data and Key Metrics Changes - The design business accounted for 33.3% of total sales, driven by a 14.8% increase in upholstery special orders [5] - Average ticket for Q4 increased by 10.9% to $3,759, with design average ticket growing 11.9% to $8,072 [5][6] - Written sales for the year were up 2.8%, with comparable sales up 0.7% [6] Market Data and Key Metrics Changes - Traffic for Q4 ended with a decrease in low single digits, following a positive trend in the previous months [5][6] - The company experienced a significant increase in web traffic and key site engagement, contributing to a 12.3% increase in written e-commerce sales for the quarter [9] Company Strategy and Development Direction - The company plans to open five new stores in 2026, including its first location in Pennsylvania, while closing one underperforming store in Alexandria, Louisiana [10][11] - Capital expenditures for 2026 are projected to be around $33.5 million, focusing on store growth and remodels [11][19] - The company aims to maintain a debt-free balance sheet and continue its focus on customer experience and operational consistency [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's performance, indicating a rebound in 2025 and a focus on testing new ideas and processes in 2026 [12] - The company is monitoring tariff developments closely, with expectations that gross margins for 2026 will be between 60.5% and 61% [18][19] - Management noted that the recent government shutdown may have impacted consumer behavior, but they remain confident in their sales momentum [39][40] Other Important Information - The company experienced a $12.7 million increase in inventories year-over-year, totaling $96.2 million at year-end [7][16] - Marketing expenses were down slightly as a percentage of net sales, with plans to keep marketing spend flat in 2026 compared to 2025 [10][44] Q&A Session Summary Question: Can you provide details about same-store sales trends throughout the quarter? - Management reported high single-digit growth in October, middle single-digit growth in November, and low single-digit decline in December [23] Question: What factors are affecting the variable component of SG&A outlook for 2026? - Management indicated that higher sales commissions and competitive pressures are expected to impact variable SG&A costs, while occupancy costs will also increase due to store growth [25][27] Question: How will the evolving tariff environment affect pricing actions? - Management stated they will be deliberate in their approach, working through existing inventories before making pricing adjustments [28] Question: What is the expected timeline for working through current inventory at the previous tariff rate? - Management anticipates it will take the first half of the year to work through current inventory before introducing new inventory at updated costs [36] Question: Can you discuss the mattress refresh program and its impact? - Management noted improvements in presentation and consumer understanding, with positive traction observed in stores that have undergone the refresh [41][43] Question: What are the expectations for marketing and advertising expenses in 2026? - Management expects marketing spend to remain flat as a percentage of sales compared to 2025 [44]

EARNING RELEASE Third Quarter 2024 November, 2024 edenor EARNINGS RELEASE THIRD QUARTER 2024 Buenos Aires, Argentina, November 8, 2024 - Empresa Distribuidora y Comercializadora Norte S.A. (NYSE / BYMA: EDN) ("edenor" or "the Company") Argentina's largest electricity distributor both in terms of number of customers and energy sales, announces its results for the third quarter of 2024. All figures are stated in Argentine Pesos on a constant currency basis, and the information has been prepared in accordance ...