These increases were partially offset by lower advertising costs and cuts in more discretionary categories like travel.

Jun 10, 2026 / receipt, needs a key / Scott Grassmeyer, CFO | earnings call 2026-06-10 | transcript 25284e94-bf47-4c14-827f-f046956b07be | chars 14542-14661 | segment 14

And our focus is really going to be on improving the operating margin through better expense management, and in some cases, reduction, and thereby achieving greater operating leverage.

Dec 11, 2024 / receipt, needs a key / Scott, other | earnings call 2024-12-11 | transcript e449c7d7-0ce8-42d1-9d87-47d4c951995b | chars 28737-28921 | segment 29

• demand for our products, which may be impacted by macroeconomic factors that may impact consumer discretionary spending and pricing levels for apparel and related products, many of which may be impacted by inflationary pressures, tariffs, interest rates, the stability of the banking industry or general economic uncertainty, and the effectiveness of measures to mitigate the impact of these factors;

filing / Jun 11, 2026 / receipt

In recent years, consumers have allocated a smaller portion of discretionary spending to certain product categories, including apparel, while increasing spending on services and other goods.

filing / Jun 11, 2026 / receipt

These changes, which were implemented after significant consultation with Meridian, include the addition of discrete components incorporating targets relating to merchandising effectiveness and cost savings initiatives.

filing / May 13, 2026 / receipt

Scott was promoted to the additional role of Chief Operating Officer in 2022 and has served in the capacity of Chief Financial Officer, including as our Executive Vice President and Chief Financial Officer and Executive Vice President-Finance, Chief Financial Officer and Controller, since 2014.

filing / May 13, 2026 / receipt