We anticipate driving additional gross margin leverage through the other expense categories such as occupancy, distribution, and logistics. And finally, we believe that we can hold our 2025 SG&A costs excluding the one-time legal charges relatively flat as a percent of sales with our fiscal 2024 results through continued focus on expense management while also investing in important long-term strategic initiatives.
Sep 4, 2025 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2025-09-04 | transcript 377ce1e7-eceb-4e3b-a38d-7686b9bb8c61 | chars 15075-15492 | segment 15
We anticipate driving additional gross margin leverage through other expense, occupancy, distribution, and logistics. And finally, we believe that we can hold our 2025 SG&A costs, excluding the one-time legal charges, relatively flat as a percentage of sales with our fiscal 2024 results through continued focus on expense management, while also investing in important long-term strategic initiatives.
Jun 5, 2025 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2025-06-05 | transcript 898386a3-e2dd-48d4-9ce8-f3c8a1e7b8b9 | chars 17042-17443 | segment 17
We believe that we can hold our fiscal 2025 SG&A costs relatively flat as a percentage of sales with our fiscal 2024 results. We believe that we can accomplish this through continued focus on expense management and driving efficiencies while also continue to invest in important long-term strategic initiatives.
Mar 13, 2025 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2025-03-13 | transcript 3fb9f86f-babf-430f-9875-8cbd62ada1fb | chars 19732-20043 | segment 20
During the quarter, we continue to see softer sales, primarily driven by ongoing inflationary pressures on the consumer, a shift in spending to travel and experiences, and softer demand for full-price key styles and trends in North America.
Nov 30, 2023 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2023-11-30 | transcript c28dedef-45a0-427b-8bc8-486d0fa6b9e8 | chars 5967-6207 | segment 6
Included in our guidance is the addition of costs as we continue to reinstitute store hours for normal operations, bring back travel, and include the continued impact of some of the cost challenges we experienced in the first quarter.
Jun 2, 2022 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2022-06-02 | transcript 31269151-4eec-4499-bc01-07de0163c4c5 | chars 14702-14936 | segment 14
Included in our guidance is the addition of costs as we continue to re-institute store hours for normal operations and bring back travel and our events, including our 2021 100K event that normally occurs in January but was moved out to Q1 for our employees' safety.
Mar 10, 2022 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2022-03-10 | transcript 04324054-9f6f-4219-88dc-d9d8516900b9 | chars 17338-17603 | segment 16
Compared to 2020, the increase in SG&A expenses as a percent of net sales was primarily driven by 80 basis points of increased store payroll, as many stores increased operating hours from the pandemic-related reductions in the prior year, 50 basis points due to corporate costs consisting primarily of increased travel, training, and marketing, and 30 basis points due to the decrease in governmental subsidies.
Dec 2, 2021 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2021-12-02 | transcript e0453ff3-2553-48c8-996f-656a1cc5a40c | chars 8815-9226 | segment 8
As a reminder, the drivers of the SG&A increase include store wages and benefits increase with expanded mall hours from reductions in 2020 due to the pandemic, government subsidies received in 2020 not anticipated to repeat in fiscal 2021 at the same level, an increase in incentive compensation and other discretionary accruals related to improved performance, a legal settlement accrued during the second quarter, an increase in costs related to training and recognition events that were reduced significantly in 2020 due to the pandemic, an increase in marketing events and other related spending that were not possible through restrictions of 2020, and increase in travel costs in the back half of 2021 with very little travel included in our fiscal 2020 results.
Dec 2, 2021 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2021-12-02 | transcript e0453ff3-2553-48c8-996f-656a1cc5a40c | chars 14354-15121 | segment 14
Fiscal 2021 SG&A costs are expected to increase in line with our sales growth from 2020 for several reasons, many related to the pandemic. The drivers of the increase include store wages and benefits reductions in 2020 due to store closures and reduced mall hours that are not anticipated to repeat in 2021. Governmental subsidies received in 2020 not anticipated to repeat in fiscal 2021. An increase in incentive compensation and other discretionary accruals related to improved performance. Illegal settlement accrued during the second quarter. An increase in costs related to training and recognition events reduced significantly in 2020 due to the pandemic, an increase in marketing events and other related spending that were not possible with the restrictions in 2020, and an increase in travel costs in the back half of 2021 with very little travel included in our fiscal 2020 results.
Sep 9, 2021 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2021-09-09 | transcript 17783264-a6ee-4add-8424-3e5870930fb0 | chars 13904-14797 | segment 13
Governmental subsidies received in 2020 not anticipated to repeat in fiscal 2021. an increase in costs related to training and recognition events that were foregone in 2020 due to the pandemic, an increase in marketing events and other related spending that were not possible with restrictions in 2020, and an increase in travel costs in the back half of 2021 with very little travel included in our fiscal 2020 results.
Jun 3, 2021 / CFO / receipt, needs a key / Chris Work, CFO | earnings call 2021-06-03 | transcript 657a59ce-9b6f-45f1-bc77-887ef48d7301 | chars 15202-15622 | segment 15