Improvement in Comp Sales Decline
The sales performance in the first quarter improved, ending with a comp sales decline of 9.4%, compared to an earlier projection of a low double-digit decline.
Inventory Management Success
Quarter-end inventory was down $5.8 million, or approximately 6.4%, compared to last year, with improved inventory turnover by over 30% since emerging from the pandemic.
Successful Strategic Initiatives
Initiatives like Fit Exchange and Heroes Discount are driving greater customer engagement, with Fit Exchange users shopping 51% more often and Heroes Discount users spending almost 10% more.
Private Label Penetration
Sales penetration into private label increased to 57% from 55% last year, providing better control over pricing and higher margins.
FitMAP Technology Rollout
FitMAP technology has been implemented in 52 stores, with plans to expand to 200 stores by 2027, showing higher average order values and customer frequency among scanned guests.