Byline Bancorp (BY) FY 2025 Annual General Meeting June 03, 2025 09:30 AM ET Speaker0 T25 Annual Stockholders' Meeting of Byline Bancorp, Inc. I would now like to turn the conference over to Brooks Rennie, Byline's Head of Investor Relations. Please go ahead. Thank you, Drew. Good morning. I'm Brooks Rennie, Byline's Head of Investor Relations. I'd like to welcome you to the Annual Stockholders Meeting of Byline Bancorp Inc. I would like to make note that Brian Durant, Byline's Corporate Secretary, will be ...

Financial Data and Key Metrics Changes - Net sales increased by 5.3% to $10.4 billion in Q1 2025 compared to $9.9 billion in the same quarter last year [9] - Gross profit as a percentage of sales was 31%, an increase of 78 basis points, primarily due to lower shrink and higher inventory markups [17] - EPS for the quarter increased by 7.9% to $1.78, exceeding internal expectations [19] - Merchandise inventories decreased by $344 million or 5% year-over-year, with a 7% decrease on a per store basis [20] - Cash flows from operations increased by 27.6% to $847 million compared to the prior year [20] Business Line Data and Key Metrics Changes - Same store sales increased by 2.4%, driven by a 2.7% growth in average basket size [10] - Positive comp sales were observed across all categories, including consumables, seasonal, home, and apparel [10] - Non-consumable product categories performed well during the Easter and early spring seasons, with comp sales in seasonal and home categories at or above 3% [11] Market Data and Key Metrics Changes - Customer traffic slightly decreased by 0.3% during the quarter but remained strong on a two-year stack basis [10] - 25% of Dollar General customers reported having less income than a year ago, indicating a financially constrained core consumer [12] - Increased trade-in activity from both middle and higher-income customers was noted, with new customers spending more compared to last year [12] Company Strategy and Development Direction - The company aims to enhance its value and convenience proposition while focusing on long-term financial goals and shareholder value [16] - Plans include opening 575 new stores in the U.S. and executing approximately 4,885 real estate projects in 2025 [24] - The company is diversifying sourcing strategies to mitigate tariff impacts, reducing exposure to China for direct imports to less than 70% [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining comp momentum due to improved store standards, customer service, and reduced turnover [41] - The company updated its financial guidance for 2025, expecting net sales growth of approximately 3.7% to 4.7% and same store sales growth of approximately 1.5% to 2.5% [23] - Management acknowledged the dynamic tariff landscape and its potential impact on consumer spending and cost of goods [22] Other Important Information - The company is focused on reducing inventory while increasing sales, which has positively impacted operational performance [20] - The company continues to invest in its digital initiatives, including partnerships with DoorDash for delivery services, which saw a 50% increase in sales through this platform [32] Q&A Session Summary Question: Confidence in sustaining comp momentum and any surprises on the top line - Management highlighted confidence due to improved store standards, customer service, and reduced turnover, with trade-in activity contributing positively [41][48] Question: Changes in traffic and consumer behavior - Management noted positive traffic in May and anticipated continued comp momentum, supported by trade-in customers with disposable income [60][62] Question: Willingness to invest in price and wage rates - Management expressed comfort with current investments in wages and pricing, emphasizing the importance of maintaining a $1 price point for over 2,000 items [75][76] Question: Shrink benefits and future expectations - Management reported a 61 basis point improvement in shrink and expects continued benefits throughout the year, with ongoing efforts to mitigate shrink [86][89]

Citi Trends (CTRN) Q1 2026 Earnings Call June 03, 2025 09:00 AM ET Company Participants Nitza McKee - Senior Associate - IRKenneth Seipel - CEO & DirectorHeather Plutino - CFO & Executive VP Conference Call Participants Michael Baker - Managing Director, Senior Research AnalystWill Forsberg - Associate Analyst Operator Greetings, and welcome to the Citi Trends First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. A question and answer session will follow t ...

Financial Data and Key Metrics Changes - The meeting discussed the election of directors and the ratification of the independent auditor, Deloitte and Touche LLP, for the year ending December 31, 2025 [11] - The advisory vote on executive compensation was approved, indicating shareholder support for management's compensation practices [11] Business Line Data and Key Metrics Changes - No specific financial data or business line performance metrics were provided during the meeting [14] Market Data and Key Metrics Changes - No specific market data or metrics were discussed during the meeting [14] Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining strong governance through the election of directors and the appointment of independent auditors, which is crucial for investor confidence [11] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [14] Other Important Information - The meeting was conducted virtually, and all voting was done electronically, ensuring shareholder participation [4][5] - The final tally of votes will be published within four business days, demonstrating transparency in the voting process [12] Q&A Session Summary Question: Were there any questions submitted during the Q&A session? - There were no questions submitted during the Q&A session, indicating either a lack of inquiries from shareholders or satisfaction with the information provided [14]

Financial Data and Key Metrics Changes - Net sales increased by 5.3% to $10.4 billion in Q1 compared to $9.9 billion in the previous year's first quarter [7] - Gross profit as a percentage of sales was 31%, an increase of 78 basis points, primarily due to lower shrink and higher inventory markups [16] - EPS for the quarter increased by 7.9% to $1.78, exceeding internal expectations [19] - Merchandise inventories decreased by $344 million or 5% year-over-year, with a 7% decrease on a per store basis [20] Business Line Data and Key Metrics Changes - Same store sales increased by 2.4%, driven by a 2.7% growth in average basket size [8] - Positive comp sales were observed across all categories, including consumables, seasonal, home, and apparel [8] - Non-consumable product categories performed well during the Easter and early spring seasons, with both seasonal and home categories comping at or above 3% [9] Market Data and Key Metrics Changes - Customer traffic slightly decreased by 0.3% during the quarter but remained strong on a two-year stack basis [8] - 25% of Dollar General customers reported having less income than a year ago, indicating a financially constrained core consumer [11] - Increased trade-in activity was noted from both middle and higher-income customers, with new customers making more trips and spending more compared to last year [11] Company Strategy and Development Direction - The company aims to enhance its value and convenience proposition while focusing on long-term financial goals and shareholder value [15] - Plans include opening 575 new stores in the U.S. and executing approximately 4,885 real estate projects in 2025 [24] - The company is diversifying sourcing strategies to mitigate tariff impacts, reducing exposure to China for direct imports to less than 70% [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining comp momentum due to improved store standards and customer service [42] - The evolving tariff environment poses risks, but the company has plans to mitigate potential impacts on consumer spending and cost of goods [22] - The updated financial guidance for 2025 reflects Q1 outperformance while considering uncertainties in the macroeconomic environment [22] Other Important Information - The company generated cash flows from operations of $847 million during the quarter, an increase of 27.6% compared to the prior year [20] - The company returned cash to shareholders through a quarterly dividend of $0.59 per share, totaling $130 million [20] - The company is focused on reducing its adjusted debt to adjusted EBITDAR leverage ratio to below three times [26] Q&A Session Summary Question: Confidence in sustaining comp momentum and any surprises on the top line - Management highlighted improvements in store standards and customer service as key factors for confidence in sustaining comp momentum [42] - The company noted that trade-in activity has accelerated, contributing positively to customer retention [49] Question: Traffic progression and changes in consumer behavior - Management reported positive traffic in May and expressed optimism for continued momentum through the year [62] - The company is focused on retaining trade-in customers and leveraging delivery partnerships to enhance sales [66] Question: Willingness to invest in price and wage rates - Management indicated satisfaction with current investments in wages and pricing, emphasizing the importance of maintaining a competitive price point [72] - The company continues to monitor promotional activity and is prepared to adjust pricing strategies as needed [78] Question: Importance of comp growth for margin expansion - Management stated that sustained comp growth is essential for achieving long-term margin targets, with a focus on improving non-consumable sales [86] - The company expects shrink improvements to continue benefiting margins throughout the year [90]

Financial Data and Key Metrics Changes - Total sales for Q1 2025 increased by $15.4 million or 8.3% compared to Q1 2024, reaching $201.7 million [23] - Adjusted EBITDA for the quarter was $5.4 million, an increase of $6.2 million compared to Q1 2024, with a sales to EBITDA flow through of 40% [26] - Gross margin expanded by 90 basis points to 39.6%, driven by higher initial markup and lower freight costs [25] - Adjusted SG&A expenses totaled $74.4 million, or 36.9% of revenue, down from 39.1% in the prior period [25] Business Line Data and Key Metrics Changes - Comparable store sales grew by 9.9%, marking the third consecutive quarter of sequential improvement, with a two-year stack of 13% [24] - The plus-size business showed meaningful improvement, and the footwear category also experienced consistent top-line growth [9][10] - The accessory business was slightly below plan, prompting adjustments to better meet customer needs [9] Market Data and Key Metrics Changes - Strong performance was noted across all apparel and home categories, with many experiencing double-digit growth [8] - Increased traffic and mid-single-digit transaction count growth were observed, alongside improved conversion rates [24] Company Strategy and Development Direction - The company is in a three-phase strategic transformation: repair, execute, and optimize, aimed at building a high-performance company for sustainable profit growth [5][7] - Focus on enhancing product offerings, particularly in plus sizes and big men's apparel, while also improving trend relevancy in juniors and young men's categories [10][54] - Plans to open up to five new stores and remodel approximately 50 locations in the year, with a disciplined approach to fleet optimization [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround plan, expecting full-year comparable store sales growth in the mid-single digits and gross margin expansion of approximately 200 basis points [28][29] - The current tariff environment presents both challenges and opportunities, with the company well-positioned to capitalize on market disruptions [20] Other Important Information - The company ended the quarter with no debt, $42 million in cash, and liquidity of approximately $117 million [27] - A new AI-based allocation system is being tested, with plans for a full rollout following the back-to-school season [14][15] Q&A Session Summary Question: Can you provide context on the change in closeout strategy? - The company is focusing on in-season closeouts and extreme value products, aiming for a long-term goal of making this segment incremental to top-line growth by about 10% [41][43] Question: Why is the full-year guidance below current comp trends? - The company is facing tougher comparisons in the back half of the year and is being cautious due to uncertainties in the macro environment [46][48] Question: Can you share insights on specific category performance? - All categories performed well in Q1, with particular strength in plus sizes and footwear, while the accessory business was slightly off plan [52][54] Question: What performance uplift has been seen from remodeled units? - Early performance from remodeled stores is promising and consistent with prior remodel classes, although it is still early to quantify [61]

Financial Data and Key Metrics Changes - Global RevPAR increased by a little over 4% in Q1, with the US and Canada up over 3% and international markets up over 6% [2][3] - In April, global RevPAR was up a little over 2%, adjusting for holiday timing, it was closer to 3%, while international RevPAR increased by 9% [3][4] - Group bookings showed an 8% increase in Q1, while leisure and business transient bookings were up 2% [4][5] Business Line Data and Key Metrics Changes - Group segment bookings are showing strong medium-term visibility, while transient bookings have a short booking window of less than three weeks [5][10] - Mid-scale RevPAR in the US is under pressure, particularly in pricing, but demand remains stable [15] - The company has entered the mid-scale space with its extended stay platform, Studio res, which opened its first new build hotel [14] Market Data and Key Metrics Changes - International inbound travel to the US is performing as expected, with a 5% decrease in inbound from Canada offset by increases from other international destinations [16] - The Greater China market is currently the softest, but development activity remains strong in that region [20] Company Strategy and Development Direction - The company signed more deals and rooms in 2024 than in any year in its history, indicating strong long-term confidence in travel and tourism [19] - The focus on conversions has been significant, with 30-40% of signings and openings coming from conversions [22][28] - The company is exploring partnerships and licensing deals, but expects most future growth to come from conventional management and franchise agreements [31] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about demand stabilization after a dip in March, with a focus on the short booking window creating uncertainty [5][10] - The company is closely monitoring economic indicators such as GDP and unemployment to assess potential pullbacks in demand [75][79] - A shift in consumer spending patterns towards prioritizing travel and experiences is seen as a positive trend, offsetting some negative economic indicators [80] Other Important Information - The company is implementing a new technology platform that will enhance operational efficiency and improve revenue opportunities for owners [60][61] - The company is on track with its technology transformation project, which is expected to significantly reduce training time for staff and enhance guest engagement [58][60] Q&A Session Summary Question: How do we think about the 5% net unit growth contribution to fees over the next two years? - Management indicated that 38% of the rooms in the pipeline are in the luxury and upper upscale segments, suggesting confidence in fee growth despite mid-scale activity [54] Question: Do you think there's a greater ability for direct bookings with AI advancements? - Management noted that AI could challenge the relevance of OTAs, as technology leaders are focusing on the travel space [56] Question: What is the status of the technology transformation project? - The project is on track, with testing underway and expected rollout later this year, promising significant benefits for owners [58][60]

Signet Jewelers (SIG) Q1 2026 Earnings Call June 03, 2025 08:30 AM ET Company Participants Rob Ballew - SVP - IRJ.K. Symancyk - CEOJoan Hilson - Chief Financial & Operating OfficerPaul Lejuez - Managing DirectorJuliana Duque - Equity Research AssociateDana Telsey - CEO and Chief Research OfficerMauricio Serna - Executive Director Conference Call Participants Jim Sanderson - Equity Research Analyst Operator Good morning, and welcome to the Signet Jewelers First Quarter Fiscal twenty twenty six Earnings Call. ...

Financial Data and Key Metrics Changes - Net sales increased by 13% to $577 million, driven by new store openings and an increase in comparable store sales growth [19][22] - Adjusted net income was $46.1 million, with adjusted earnings per share at $0.75 [22] - Adjusted EBITDA was $72.2 million, with an adjusted EBITDA margin of 12.5% for the quarter [22] - Gross margin remained flat at 41.1%, slightly ahead of expectations [21][22] - SG&A expenses as a percentage of sales increased by 60 basis points to 28.6% due to higher medical and casualty claims and new store growth [21] Business Line Data and Key Metrics Changes - Comparable store sales increased by 2.6%, driven by an increase in transactions [20] - The best-performing categories included food, hardware, electronics, domestics, and housewares [20] - Ollie's Army membership grew by over 9% to 15.5 million members, with sales to members representing over 80% of total sales [20] Market Data and Key Metrics Changes - The company opened 25 new stores in the first quarter, a record for any period in its history, ending with a total of 584 stores, a 13% year-over-year increase [19][20] - The closeout market remains fluid, with significant retail store closures creating excess inventory opportunities [9][11] Company Strategy and Development Direction - The company is focused on aggressive market share acquisition through accelerated store growth, enhanced digital marketing, and the Ollie's Army loyalty program [11][12] - The company aims to maintain its value proposition and price gaps, especially on brand-name items, while reducing reliance on Chinese imports [43][125] - The company is investing in its people and enhancing customer acquisition and retention strategies [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating a dynamic environment and reaffirmed the financial outlook for the fiscal year [15][25] - The company anticipates continued strong deal flow due to retail store closures and supply chain disruptions [9][11] - Management expects second quarter comparable store sales to be at the lower end of the 1% to 2% range, with strong core comp trends in non-seasonal categories [26][99] Other Important Information - The company completed the initial rollout of a co-branded credit card, seeing strong spending and shopping frequency [13] - A new private shopping event for Ollie's Army members is planned, enhancing the loyalty program [14][68] Q&A Session Summary Question: State of closeout availability and impact of tariffs - Management noted strong deal flow and a 16% increase in inventory, with expectations for more product availability due to supply chain disruptions and retail bankruptcies [32][33] Question: Traffic trends and confidence in second quarter comps - Traffic has been strong, with a core comp running in the low to mid single-digit range, despite some seasonal impacts [35][36] Question: Impact of tariffs on supplier negotiations and pricing - Management emphasized maintaining value propositions and price gaps while working closely with vendors to mitigate tariff impacts [41][42] Question: Real estate opportunities and store openings - The pipeline for new store openings is strong, with expectations for above-average growth in 2026 [50][51] Question: Impact of Big Lots closures on comps - The liquidation of Big Lots stores had a 50 basis point impact on comps, but stores that closed prior to Christmas are seeing low to mid single-digit lifts [55][56] Question: Cadence of comps and Ollie's Army Night - Comps improved significantly in March, and the new Ollie's Army Night is expected to enhance customer loyalty and drive sales [65][68] Question: Gross margin expectations and tariff impacts - Management expects gross margins to follow a seasonal flow, targeting 40% for the year, with some tariff impacts already included [70][71] Question: Pricing strategy amidst competition - The company is committed to maintaining price gaps and is actively sourcing products to ensure value for customers [75][76] Question: Ollie's Army membership growth and performance - Newer stores are seeing higher conversion rates to Ollie's Army membership, benefiting from customer familiarity with loyalty programs [87][88]

Ferguson (FERG) Q3 2025 Earnings Call June 03, 2025 08:30 AM ET Company Participants Brian Lantz - Vice President IR & CommunicationsKevin Murphy - CEO, President & DirectorBill Brundage - CFO & DirectorPhilip Ng - Managing DirectorRyan Cooke - VP - Equity ResearchAnika Dholakia - AVP - Equity ResearchMike Dahl - Managing Director - Equity Research Conference Call Participants John Lovallo - Senior US Homebuilding & Building Products Equity Research AnalystSam Reid - AnalystDavid Manthey - Senior Research A ...