We were able to both make the necessary investments in our marketplace and ads initiatives and expand our enterprise operating margin through a combination of disciplined expense management and efficiency optimization efforts.

Mar 3, 2026 / receipt

We were able to both make the necessary investments in our marketplace and ads initiatives and expand our enterprise operating margin through a combination of disciplined expense management and efficiency optimization efforts.

Mar 3, 2026 / receipt, needs a key / Corey Berry, CEO | earnings call 2026-03-03 | transcript 4f5e6a76-db0e-44a2-9c06-58a1fa59dbdf | chars 5382-5608 | segment 5

Consumers continue to make tough choices with their budgets, trading down in some areas while still prioritizing spend in others, like services and experiences like travel.

May 30, 2024 / receipt, needs a key / Cori, CEO | earnings call 2024-05-30 | transcript e7e03ab0-3187-4c0b-bb3f-c67e7d4a432e | chars 5085-5257 | segment 5

Although our sales were below plan, our non-GAAP operating income rate exceeded our outlook by approximately 40 basis points, which was driven by lower SG&A. The lower-than-expected SG&A was largely driven by tighter expense management in areas such as store payroll and advertising expense as we adjusted plans to account for sales trends.

Nov 21, 2023 / receipt, needs a key / Matt, CFO | earnings call 2023-11-21 | transcript b1553b87-3264-4fb6-859f-4d498eee4bbe | chars 28650-28990 | segment 29

Our industry continues to experience lower consumer demand due to the pandemic pull forward of tech purchases and the shift back into services spend outside the home, like travel and entertainment.

Aug 29, 2023 / receipt, needs a key / Cori Berry, CEO | earnings call 2023-08-29 | transcript 73728551-1be4-490a-bd35-7776a8fbdc21 | chars 2597-2794 | segment 2

From a profitability standpoint, better than expected results were largely driven by disciplined expense management that resulted in favorable SG&A expense. both from a dollar and rate perspective.

Nov 22, 2022 / receipt, needs a key / Matt, CFO | earnings call 2022-11-22 | transcript fc3e756c-6887-478a-8195-9b8cc381e577 | chars 25769-25966 | segment 25

In addition, we expected to see some impact to our business as customers broadly shifted their wallet spend back into experience areas such as travel and entertainment.

Aug 30, 2022 / receipt, needs a key / Cori Berry, CEO | earnings call 2022-08-30 | transcript c83891ab-1f38-4154-bfae-b70fc2b15d70 | chars 4043-4211 | segment 4

As I shared earlier, our outlook for the year assumes incentive compensation to be significantly below prior year levels. Compared to last year in our original outlook, we are planning for lower store payroll expenses and other variable expenses. We've also reduced spend in discretionary areas by increasing the rigor around backfilling corporate roles, capital expenditures, and travel.

Aug 30, 2022 / receipt, needs a key / Matt, CFO | earnings call 2022-08-30 | transcript c83891ab-1f38-4154-bfae-b70fc2b15d70 | chars 31221-31609 | segment 32

In addition to that, there are even some more discretionary areas that you can start to look at in addition to variable items that in some cases are even additional marketing to the extent that you're comfortable or even simple areas like travel or adjusting your capital spend, which can adjust appreciation depending on when you do that during a year.

May 24, 2022 / receipt, needs a key / Matt, CEO | earnings call 2022-05-24 | transcript eeb02e62-eac0-4875-a726-a3f125bb3d5b | chars 47136-47489 | segment 48

Of course, the environment as it relates to the pandemic is still rapidly evolving, and there is uncertainty as to the associated impact on many important factors, including consumer shopping behavior, share of wallet on services like dining and travel, return to office, and return to school.

Oct 5, 2021 / receipt, needs a key / Corey, CEO | earnings call 2021-10-05 | transcript 400af5df-12d5-4f2f-a5ed-ea42b52f80b9 | chars 23883-24176 | segment 24

As we think more short term, specifically the back half of this year, we expect shopping behavior will continue to evolve as customers are able to spend more time on activities like eating out, traveling, and other events, And there remains uncertainty as to how this may impact our business, especially as we lack particularly strong sales in the back half of last year.

May 27, 2021 / receipt, needs a key / Cori Berry, CEO | earnings call 2021-05-27 | transcript 7ab1d92c-ad2c-40f7-917e-ac04e4cf6a2f | chars 19351-19722 | segment 19

The Q3 profitability was better than expected. This was primarily the result of lower SG&A due to strong expense management, a reflection of the culture we have built around driving cost reduction and efficiencies to help fund investments and offset pressures.

Nov 26, 2019 / receipt, needs a key / Corey Berry, CEO | earnings call 2019-11-26 | transcript 7aed0dd3-d9bb-44bd-9dc2-c999ae7c7c62 | chars 3305-3565 | segment 3