The final strategic pillar of our tariff mitigation strategy is cost management. This includes near-term cost savings measures, such as a reduction in travel and entertainment expenses and the deferral of nonessential projects, as well as our project gravity streamline initiative.

Nov 6, 2025 / CEO / receipt, needs a key / Jeremy Andrus, CEO | earnings call 2025-11-06 | transcript bf0fb33a-238e-4a6d-b6cb-67d8135876b9 | chars 4522-4803 | segment 4

Last, We have implemented near-term cost savings measures, such as reduction in travel and entertainment expenses and the deferral of nonessential projects, as well as meaningful cost savings expected to be derived from Project Gravity.

Aug 6, 2025 / CEO / receipt, needs a key / Jeremy Andrus, CEO | earnings call 2025-08-06 | transcript 20340244-a638-423b-9da3-b77fe5f742a2 | chars 5193-5429 | segment 5

As we have discussed over the last several quarters, following a period of outsized growth and big-ticket home-related durables during the pandemic, consumers shifted their disposable expenditures towards travel and services, leading to one of the largest declines in the history of the grill industry on record last year.

Aug 2, 2023 / CEO / receipt, needs a key / Jeremy Andrus, CEO | earnings call 2023-08-02 | transcript 5ecea7dc-a9f5-4252-81d3-1e9aee67073a | chars 3987-4309 | segment 3

After two years of outsized growth, the dramatic shift in consumer spending patterns away from big-ticket durable goods to travel and leisure, along with lower consumer confidence caused by inflation and geopolitical turmoil, led to unprecedented pressure on demand in the grill category.

Mar 16, 2023 / CEO / receipt, needs a key / Jeremy Andrus, CEO | earnings call 2023-03-16 | transcript 6744cc59-a08b-43a5-bbda-312183422c4e | chars 2616-2904 | segment 2

First, we have aggressively reduced certain discretionary expenses across the organization. This includes reductions in travel and entertainment, non-critical professional services, and top of funnel marketing.

Aug 10, 2022 / CEO / receipt, needs a key / Jeremy Andrus, CEO | earnings call 2022-08-10 | transcript 7f2481d7-1cad-4f08-85d0-d68d6b5733c4 | chars 8903-9113 | segment 8