Gross margin compression in 2025 was primarily due to shift towards the remodeling business, which inherently carries higher labor and travel costs, market driven wage pressure, and shifts in workforce alignment.

Mar 31, 2026 / receipt, needs a key / Steven Hennen, CFO | earnings call 2026-03-31 | transcript 4924c439-cb18-462c-b70b-5c099e453c89 | chars 6987-7199 | segment 7

The margin compression was primarily due to a shift towards the remodeling business, which inherently has higher labor and travel costs.

Aug 14, 2024 / receipt, needs a key / Antonio Calisto-Pato, CFO | earnings call 2024-08-14 | transcript e6740f19-5c91-4cf0-8301-ed4e01996b67 | chars 7476-7612 | segment 7

The margin compression was due to a mixed shift to the remodeling business, which has higher labor and travel costs, and lower gross margin in South Africa due to additional variable expenses in the cost of sales.

May 15, 2024 / receipt, needs a key / Antonio Calisto-Pato, CFO | earnings call 2024-05-15 | transcript 4561079e-ff7f-42ea-aefb-b76cd3525783 | chars 6557-6770 | segment 6

And the biggest factor is that remodel work often involves travel. And so the travel is baked into the rate.

Nov 14, 2023 / receipt, needs a key / Mike Matacunas, CEO | earnings call 2023-11-14 | transcript 1cda65b0-43af-487e-8487-fa9b67407e06 | chars 17173-17281 | segment 17

Our only constraint to grow this piece of business is access to labor. Because the teams travel to sites, stay for periods of time, and this requires time to develop skills, we've invested in recruiting resources dedicated to identifying this future SPAR team member.

Nov 14, 2022 / receipt, needs a key / Mike Matacunas, CEO | earnings call 2022-11-14 | transcript b907a1af-9ff2-48be-82a2-cb0c96d884df | chars 20321-20588 | segment 21

In one example, we traveled a team to a second country to train and develop the capabilities and earn the right to perform more work going forward. This type of global engagement is a differentiator for us. I traveled in the third quarter to Japan, Canada, and South Africa.

Nov 14, 2022 / receipt, needs a key / Michael Matakunis, CEO | earnings call 2022-11-14 | transcript b907a1af-9ff2-48be-82a2-cb0c96d884df | chars 22834-23108 | segment 23

This is a reflection of the acceleration of our store remodel business, one-time travel expense, operating items, and labor costs from one of our domestic joint ventures.

Mar 29, 2022 / receipt, needs a key / Mike Matacunas, CEO | earnings call 2022-03-29 | transcript 4aa224bf-c8d8-447c-ac87-a7a60c0e283f | chars 3796-3966 | segment 3

Financial Accountant | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Pinetown-KZN/Financial-Accountant_REQ00199-1", "remote": false, "category": "finance_ops", "function": "finance",

company_statement / Sep 16, 2026 / receipt

Transport Supervisor | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Philippi-WC/Transport-Supervisor_REQ00193-1", "remote": false, "category": "other", "function": "other", "locatio

company_statement / Sep 13, 2026 / receipt

Category Manager | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Nelspruit-MP/Category-Manager_REQ00186", "remote": false, "category": "other", "function": "other", "location": "Nels

company_statement / Sep 8, 2026 / receipt

Team Leader - Advertising & Sponsorship | {"ats": "workday", "city": null, "state": null, "job_id": "/job/BoksburgGP/Team-Leader---Advertising---Sponsorship_REQ00182", "remote": false, "category": "ot

company_statement / Sep 7, 2026 / receipt

Receptionist/Switchboard Operator | {"ats": "workday", "city": null, "state": null, "job_id": "/job/BoksburgGP/Receptionist-Switchboard-Operator_REQ00177", "remote": false, "category": "other", "funct

company_statement / Sep 4, 2026 / receipt

Perishables Quality Clerk | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Philippi-WC/Perishables-Quality-Clerk_REQ00174-1", "remote": false, "category": "other", "function": "other"

company_statement / Sep 2, 2026 / receipt

Category Manager | {"ats": "workday", "city": null, "state": null, "job_id": "/job/ClayvilleGP/Category-Manager_REQ00167-1", "remote": false, "category": "other", "function": "other", "location": "Cla

company_statement / Sep 1, 2026 / receipt

Replenishment Clerk | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Port-ElizabethEC/Replenishment-Clerk_REQ00116-1", "remote": false, "category": "other", "function": "other", "loca

company_statement / Aug 31, 2026 / receipt

Retail Systems Consultant | {"ats": "workday", "city": null, "state": null, "job_id": "/job/ClayvilleGP/Retail-Systems-Consultant_REQ00143", "remote": false, "category": "other", "function": "retail",

company_statement / Aug 26, 2026 / receipt

Inventory Manager | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Phoenix-KZN/Inventory-Manager_REQ00138-1", "remote": false, "category": "other", "function": "other", "location": "P

company_statement / Aug 26, 2026 / receipt

Category Controller | {"ats": "workday", "city": null, "state": null, "job_id": "/job/Namibia/Category-Controller_REQ00110", "remote": false, "category": "finance_ops", "function": "finance", "locatio

company_statement / Aug 24, 2026 / receipt

Human Resources Manager | {"ats": "workday", "city": null, "state": null, "job_id": "/job/ClayvilleGP/Human-Resources-Manager_REQ00128-1", "remote": false, "category": "other", "function": "hr", "loca

company_statement / Aug 19, 2026 / receipt