The reduction compared to 2019 is the result of a 560 basis point improvement in stored labor-related expenses and a 50 basis point reduction in travel costs, along with 190 basis points of leverage across several other SG&A expenses.

May 21, 2021 / receipt, needs a key / Tom Heacock, CFO | earnings call 2021-05-21 | transcript 1efe6ad7-6546-4ba0-a9ff-d77eb08c6efc | chars 3675-3909 | segment 3

The year-over-year reduction is the result of a 220 basis point improvement in store labor-related expenses and a 50 basis point reduction in travel costs, along with leverage across several other SG&A expense categories.

Nov 20, 2020 / receipt, needs a key / Tom Heacock, CFO | earnings call 2020-11-20 | transcript 044df13c-0c28-4f9a-b0a4-581decbcf4aa | chars 4462-4683 | segment 4

The year-over-year reduction is the result of a 275 basis point improvement in stored labor-related expenses and a 45 basis point reduction in travel costs.

Nov 20, 2020 / receipt, needs a key / Tom Heacock, CFO | earnings call 2020-11-20 | transcript 044df13c-0c28-4f9a-b0a4-581decbcf4aa | chars 5015-5171 | segment 5

This decline was the result of a $12 million reduction in compensation and benefit-related expenses along with reductions in certain other operating expenses, including travel expenses and store supplies.

Aug 21, 2020 / receipt, needs a key / Tom Heacock, CFO | earnings call 2020-08-21 | transcript 536d21fd-518d-402b-bda6-a8b1d99369bd | chars 4482-4686 | segment 4

The decline was achieved by reducing compensation and benefit-related expenses by 13.5 million, along with reducing certain other operating expenses, including travel and store supplies.

May 22, 2020 / receipt, needs a key / Tom Heacock, CFO | earnings call 2020-05-22 | transcript 47ae004d-392f-417e-b124-16bd67c591ab | chars 6930-7116 | segment 7

Negative comparable store sales results could reduce net sales and have a negative impact on operating leverage, thus reducing net earnings.

filing / Sep 10, 2026 / receipt

The Company also leases certain equipment and corporate office space. Store leases for new stores typically have an initial term of 10 years, with options to renew for an additional 1 to 5 years.

filing / Sep 10, 2026 / receipt