Now we're seeing the opposite as discretionary income is being spent on travel, restaurants, and other services.

Jul 11, 2023 / receipt, needs a key / Pat Lavelle, CEO | earnings call 2023-07-11 | transcript aba77960-a9ef-4904-b6a1-894f2506fb90 | chars 6191-6303 | segment 6

Our G&A expenses increased by approximately $400,000, with professional fees and travel expenses higher for the comparable periods.

Jul 11, 2023 / receipt, needs a key / Michael Storr, SVP and CFO | earnings call 2023-07-11 | transcript aba77960-a9ef-4904-b6a1-894f2506fb90 | chars 14407-14538 | segment 14

We reported fiscal 2023 Q4 operating expenses of $47.6 million, representing a $6.9 million increase. This includes approximately $8.7 million in non-cash impairment charges. Excluding these charges, our operating expenses declined for the comparable fourth quarter periods by 4.3%. Selling expenses declined by $1.9 million due to lower commissions and salaries and a decline in website and credit card expenses, which was partially offset by a modest increase in advertising and trade show expenses, among other factors.

May 16, 2023 / receipt, needs a key / Pat Lavelle, CEO | earnings call 2023-05-16 | transcript d8824953-3ef7-4df4-84f0-089ee62e82a8 | chars 45782-46304 | segment 46

Selling expenses declined by $1.9 million due to lower commissions and salaries and a decline in website and credit card expenses, which was partially offset by a modest increase in advertising and trade show expenses, among other factors.

May 16, 2023 / receipt, needs a key / Pat Lavelle, CEO | earnings call 2023-05-16 | transcript d8824953-3ef7-4df4-84f0-089ee62e82a8 | chars 15940-16179 | segment 16

And then from your vantage point, do you think consumers are spending more money on travel and services and that's impacting your results?

May 16, 2023 / receipt, needs a key / Tom Forte, other | earnings call 2023-05-16 | transcript d8824953-3ef7-4df4-84f0-089ee62e82a8 | chars 24786-24924 | segment 25

The more affluent consumer is spending more time traveling, going on vacation.

May 16, 2023 / receipt, needs a key / Pat Lavelle, CEO | earnings call 2023-05-16 | transcript d8824953-3ef7-4df4-84f0-089ee62e82a8 | chars 27676-27754 | segment 28

We've had reductions of third-party partners' expenses. reduce show expenses, reduce travel, and things like that.

Oct 12, 2022 / receipt, needs a key / Michael, other | earnings call 2022-10-12 | transcript 08f01075-d8be-44f0-afc5-cf1f99c2f88f | chars 22963-23077 | segment 23

As reported, we cut overhead drastically to see what the impact of the pandemic would be on our business. We furloughed employees, stopped certain investments, cut travel, and many third-party expenses until we were able to see the full impact of COVID.

Jul 13, 2021 / receipt, needs a key / Pat Lavelle, CEO | earnings call 2021-07-13 | transcript 5d1b42cc-5f77-4c49-917a-38708c99981e | chars 3402-3655 | segment 3

And of course, more travel as the country opens up.

May 13, 2021 / receipt, needs a key / Michael Storr, CFO | earnings call 2021-05-13 | transcript 69e16aa3-d5db-4fb0-bfa7-d7b52f6e9c6b | chars 17414-17465 | segment 17

T&E, of course, has been down due to the current travel environment and we had either removed or lowered salary and other third-party costs throughout the year.

Oct 14, 2020 / receipt, needs a key / Pat, CEO | earnings call 2020-10-14 | transcript e7f2790c-8656-466e-8e51-ab1c5e504842 | chars 14280-14440 | segment 14