Financial Data and Key Metrics Changes - Net income for Q4 2025 was $80.8 million or $1.59 per share, compared to $77.2 million or $1.53 per share in Q4 2024, representing a year-over-year increase of 4.7% in net income and 3.9% in earnings per share [4] - For the full fiscal year 2025, net income was $209.7 million or $4.14 per share, up from $195.5 million or $3.89 per share in the previous year, indicating a 7.2% increase in net income and a 6.4% increase in earnings per share [4] Business Line Data and Key Metrics Changes - Net sales for Q4 2025 increased by 5.3% to $399.1 million, compared to $379.2 million in Q4 2024, while full year sales rose 6.6% to $1.298 billion from $1.218 billion [5] - Comparable store sales for Q4 increased by 3.9% and for the full year by 5.6% [5] - Women's business saw a 12% increase in merchandise sales for Q4, representing 46% of total sales, up from 43% the previous year [13] - Men's merchandise sales decreased by 0.5%, accounting for 54% of total sales, down from 57% [15] - Kids business grew approximately 16% year-over-year, highlighting a key growth opportunity [17] Market Data and Key Metrics Changes - Online sales for Q4 increased by 6.4% to $74.2 million, while full year online sales rose by 9.8% to $217.1 million [5] - Average unit retail (AUR) for women's products increased by approximately 6.5% from $51.55 to $54.95, while men's AUR increased by about 4.5% from $56.30 to $58.80 [14][15] Company Strategy and Development Direction - The company plans to open 12-14 new stores and complete 12-14 full remodel projects in fiscal 2026, with a focus on relocating stores to outdoor shopping centers [11] - The strategy includes leveraging successful outlet locations and expanding in select markets based on previous successes [22] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand in the denim category, driven by new fashion trends and a diverse selection of products [23][24] - The company is optimistic about the growth in the kids category and the overall performance of women's denim, which has been a significant driver of sales [17][13] Other Important Information - Inventory as of January 31, 2026, was $139.5 million, up 15.5% year-over-year, while total cash and investments were $306.6 million after paying $225.1 million in dividends [10] - The company ended the year with 440 retail stores, a slight decrease from 441 stores the previous year [12] Q&A Session Summary Question: Store expansion strategy - Management confirmed plans to open 12-14 new stores, focusing on premium outlets and select markets where previous successes have been noted [22] Question: Drivers of the denim category - Management highlighted the growth in women's denim due to new fashion trends and a strong selection of products, including private brands [23][24] Question: Youth product availability in stores - The majority of stores carry youth products, with a small percentage not offering them due to space constraints. The company has transitioned from dedicated youth stores to integrating youth products into regular stores [25][26]