As it relates to expense management and working capital, we see a line of sight of working capital opportunities, specifically in inventory, one of our largest areas of working capital. And we'll be working towards that as we get into 2024 plans of actions around that. And of course, we're always looking for efficiencies on the expense side and we'll continue to focus in on that as we work through our line of sight for fiscal 2024 with the aim in sight of positive to neutral pre-cash flow.

Feb 6, 2024 / receipt, needs a key / Jeff, CFO | earnings call 2024-02-06 | transcript e4e0a991-1eb2-4e2f-b650-fc50901344f1 | chars 24989-25483 | segment 25

In response to our top-line performance, we remain committed to exercising strong discipline with both our promotional strategies and expense management.

Feb 6, 2024 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2024-02-06 | transcript e4e0a991-1eb2-4e2f-b650-fc50901344f1 | chars 5454-5607 | segment 5

As Satish reviewed, while we continue to face similar challenges to our top line that we experienced in the second quarter, Particularly within our core general merchandise categories, we're able to deliver earnings results in line with our original guidance range through discipline, promotional activity, and tight expense management.

Feb 6, 2024 / receipt, needs a key / Jeff Miller, CFO | earnings call 2024-02-06 | transcript e4e0a991-1eb2-4e2f-b650-fc50901344f1 | chars 13531-13867 | segment 13

Additionally, our discovery categories are also performing strongly, with on-the-go travel solutions and home fragrances achieving double-digit growth in comparable sales relative to the third quarter of last year.

Feb 6, 2024 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2024-02-06 | transcript e4e0a991-1eb2-4e2f-b650-fc50901344f1 | chars 4099-4313 | segment 4

As we discussed on our last call, we expected a challenging quarter on consumer spending, impacted by long-term inflationary pressures, substantially increased interest rates, and overall market uncertainty. And that is essentially what we saw, a continued year-over-year decline in our customer traffic and fewer units being purchased by them, especially in our core and more value-oriented categories. The monthly cadence of our sales declines was steepest in July, which we primarily attribute to customer distraction with summer travel.

Oct 31, 2023 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2023-10-31 | transcript 815eff70-648d-42f3-abd8-61cab71af3e9 | chars 2584-3124 | segment 2

Offsetting some of this pressure, however, was an ongoing commitment to disciplined expense management, including the planned actions we discussed on our last call.

Aug 1, 2023 / receipt, needs a key / Jeff Miller, CFO | earnings call 2023-08-01 | transcript 4ca071e9-da14-40d8-b8bc-ff260f5091dc | chars 10701-10865 | segment 10

I think also worthy to point out is outside of promotions that newness is really working for us. As I mentioned before, we're seeing positive results from the introduction of home fragrances and plant-based cleaners. which actually grew 10% collectively this quarter over the prior quarter. And sales from our Refresh Travel Assortment and Reimagine Back to College Assortment and our new Drop Ship program are also all doing very well and bringing in new customers. So that was really important learning for us as we look to win with our customers is what's the right cadence and mix for promotions? What are they really engaging with as it relates to newness?

Aug 1, 2023 / receipt, needs a key / Satish, CEO | earnings call 2023-08-01 | transcript 4ca071e9-da14-40d8-b8bc-ff260f5091dc | chars 22634-23295 | segment 22

In light of our customers traveling this summer, we gave new life to our travel and on-the-go category with brands like CalPak, Rainz, and Thule. These products are both functional with a fresh aesthetic and include carry-on luggage, duffel bags, laptop backpacks, and belt bags, all of which are exceeding expectations.

Aug 1, 2023 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2023-08-01 | transcript 4ca071e9-da14-40d8-b8bc-ff260f5091dc | chars 3789-4109 | segment 3

I think largely as we look at our consumers, they are very much distracted either with travel that's going on right now or with interest rates and are obviously contending with a level of uncertainty right now and the things those start to normalize, we do expect a return back. And that's what we are getting geared up for and excited about, given all the newness that we are introducing for the back half.

Aug 1, 2023 / receipt, needs a key / Satish, CEO | earnings call 2023-08-01 | transcript 4ca071e9-da14-40d8-b8bc-ff260f5091dc | chars 28865-29272 | segment 28

The Cadence travel system will be exclusive to us and features customizable, magnetic, and leak-proof capsules to store personal care products in.

May 16, 2023 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2023-05-16 | transcript 5086bc53-851f-4520-9b6c-8cd2639e511b | chars 10808-10954 | segment 10

We will remain diligent with our expense management while continuing to invest in our strategic initiatives, including new store growth and infrastructure investments focused on strengthening our foundation and enhancing our capabilities for the future.

Feb 7, 2023 / receipt, needs a key / Satish Malhotra, CEO | earnings call 2023-02-07 | transcript d8cf9dd4-04b7-480d-9a15-b76f1b2bdc55 | chars 5639-5892 | segment 5

And also not only contending with customers who are really enjoying, finally enjoying their summer activities and travel, and then there are customers that are also kind of looking for and expecting more value given current inflationary pressures.

Aug 2, 2022 / receipt, needs a key / Kate McShane, other | earnings call 2022-08-02 | transcript a36f0dac-f064-4ae4-a1f7-f8bcaf6d2625 | chars 26724-26971 | segment 26