在科技日新月异的今天，广州巨惠码头发展有限公司紧跟时代步伐，将科技手段融入商业模式中。它建立了线上 平台，融合线下体验，打造了无缝连接的购物体验。通过大数据分析，惠码能够对顾客行为进行预测和解读，以 更灵活的方式满足客户需求，提高商品的周转率和销售额。 品牌形象的塑造也是广州巨惠码头发展有限公司不可忽视的策略之一。它通过有效的市场营销策略，如合作营 销、社交媒体推广等手段，提升了品牌知名度和美誉度。一个清晰、独特的品牌形象在顾客心中建立了信任感， 这是吸引忠诚顾客的关键。 为了实现这一定位，广州巨惠码头发展有限公司在供应链管理上下足了功夫。它与多家知名品牌商建立了紧密的 合作关系，确保货源的稳定和优质。同时，惠码还采用了先进的库存管理和动态定价机制，有效减少了库存积 压，保证了商品的快速流转。这不仅降低了成本，也提升了顾客的购物体验。 除了强大的供应链体系，广州巨惠码头发展有限公司还注重专业团队的建设。它培养了一支具备敏锐市场洞察力 和优秀谈判技巧的采购团队，确保能够为顾客提供最优惠的价格。同时，销售和客服团队也不断提升服务的专业 性，以建立良好的顾客关系，形成口碑效应。 广州巨惠码头发展有限公司：品牌运营的 ...

Financial Data and Key Metrics Changes - In Q1 2025, consolidated revenue reached $684.1 million, a 6.6% increase year-over-year from $641.9 million [26] - Adjusted EBITDA was $70.3 million, slightly down from $72.6 million in the previous year [26] - Non-GAAP EPS was $0.90, exceeding the high end of the outlook [26] Business Line Data and Key Metrics Changes - Progressive Leasing's GMV was $402 million, down 4% year-over-year, primarily due to the bankruptcy of a large retail partner [22][23] - Excluding the impact of the Big Lots bankruptcy, GMV growth was low to mid-single digits [22][23] - Ford Technologies continued to grow revenues at a triple-digit rate, achieving its first quarter of positive adjusted EBITDA [11][81] Market Data and Key Metrics Changes - The lease portfolio balance as of December 31, 2024, was up 6.1% year-over-year, compared to a 5.2% decline at the same point in 2023 [10] - Write-offs for Q1 came in at 7.4%, slightly better than expected, with a targeted annual write-off range of 6% to 8% [10][24] Company Strategy and Development Direction - The company is focused on executing its ecosystem strategy, which includes both leasing and BNPL products to meet consumer needs [11][19] - Strategic investments will continue in marketing and technology to optimize decision-making and manage risk [12][19] - The company aims to maintain a disciplined approach to spending while prioritizing areas with the greatest impact [14][19] Management's Comments on Operating Environment and Future Outlook - The macro environment has deteriorated, with inflation and tariff concerns impacting consumer confidence and spending [12][28] - Despite challenges, the company remains confident in its ability to grow share and deliver sustainable profitable growth [13][30] - The revised revenue outlook for 2025 reflects the GMV headwinds, with expectations for revenue between $2.425 billion and $2.5 billion [29] Other Important Information - The company returned capital to shareholders through dividends and share repurchases, with a quarterly cash dividend of $0.13 per share [26] - The company has $335.2 million remaining under its $500 million share repurchase program [26] Q&A Session Summary Question: What are the dynamics of the trade-down environment? - Management noted that trade-down behavior still exists but is more muted compared to the latter half of 2024, with no significant tightening observed [36] Question: How has retail softness progressed? - The quarter started encouragingly, but a downshift in consumer sentiment was noted, with no significant rebound observed [40] Question: What is the impact of the Big Lots bankruptcy on GMV? - The $30 million GMV headwind from the lost customer is expected to be consistent across the quarters, with some seasonal variations [41][42] Question: How are inflation and tariffs affecting retail partners? - Management indicated that modest price increases could be beneficial, but significant price shocks and demand destruction are concerning [46] Question: What is the outlook for GMV in Q2 and the rest of the year? - No specific GMV guidance was provided due to uncertainty, but management remains focused on maintaining a healthy portfolio and managing expenses [95][96]