Financial Data and Key Metrics Changes - The company reported $465 million in sales for the fourth quarter, representing a 15.6% increase from the prior year, which is at the high end of guidance [1] - The enterprise comparable sales increased by 5.4%, with an 8.8% increase in the U.S. and a 0.7% increase in Canada [1][2] - The company repaid $20 million of debts and repurchased 1.1 million shares at an average price of $8.75 [2] Business Line Data and Key Metrics Changes - The company opened 10 new stores in the quarter, totaling 26 for the year, indicating strong new store performance [2] - The adjusted EBITDA for the last twelve months through the third quarter was $249 million, with adjusted EBITDA margins in the mid-teens [5][7] Market Data and Key Metrics Changes - Approximately 40% of customers are under the age of 45, and 45% reside in households earning over $100,000, indicating a younger and more affluent customer base [8] - The company operates 367 stores across three countries, with significant growth opportunities in the U.S. due to under-penetration [4][10] Company Strategy and Development Direction - The company is focused on growth, innovation, and balanced capital allocation as its strategic pillars [8][18] - The U.S. market will be the primary focus for new store growth, with 85% to 90% of new stores planned for the U.S. [10] - The company aims for a leverage ratio of approximately two times by the end of 2027, while continuing to invest in new store growth [18][20] Management's Comments on Operating Environment and Future Outlook - Management believes that the thrift retail sector is experiencing secular growth, driven by cost of living pressures [2] - The company expects adjusted EBITDA growth to begin in 2026 as new stores start contributing positively to profitability [20][22] - The management is optimistic about the opportunities in 2026 and beyond, citing a unique category tailwind with thrift outpacing traditional retail [22][24] Other Important Information - The company has paid $490 million to nonprofit partners for secondhand clothing and housewares over the last five years, highlighting its commitment to sustainability [5] - The company has a strong cash-generative model that allows it to self-fund new store growth, reduce debt, and return capital to shareholders [24] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.