Q4 Net Sales Growth
Q4 net sales of $201.9 million, up 9.5% year-over-year; comparable store sales (comps) up 8.2%.
Full-Year Net Sales and Comps
Fiscal 2025 net sales of $759 million, up 5.0% year-over-year; full-year comps up 2.1%.
Profitability and EPS Improvement
Q4 pretax income $10.8 million (5.3% operating margin) vs $9.6 million prior year; Q4 diluted EPS $0.51 vs $0.49 prior year; full-year pretax $26.8 million producing $1.19 per share (flat year-over-year).
Adjusted Gross Margin Expansion (Ex-LIFO)
Reported gross margin of 60.4% in Q4 (down 150 bps), but excluding a $3.9M LIFO charge adjusted gross margin improved to 62.4% from 61.4% (+100 bps). Full-year gross margin flat at 60.7% (includes $4.6M LIFO charges).
Strong Average Ticket and Design Business
Q4 average ticket rose 10.9% to $3,759; design average ticket up 11.9% to $8,072. Design accounted for 33.3% of sales; design upholstery special orders up 14.8%.
E-commerce and Digital Engagement
Written e-commerce sales increased 12.3% in Q4; website traffic and key site engagement increased double digits year-over-year, aiding in-store performance.
Balance Sheet Strength
Ended Q4 with $125.3 million in cash and cash equivalents and no funded debt (debt-free balance sheet).
Capital Allocation and Shareholder Returns
Paid $5.3M dividends in Q4 ($20.8M for the year); repurchased $2.8M of common stock in the quarter; Board approved additional $15M buyback authorization on Feb 20, 2026.
Strategic Store Growth and CapEx Plan
Plans for 5 new stores in 2026 (entering Pennsylvania — 18th state) plus 4 remodels; 2026 CapEx guidance ~$33.5M to support growth and store refreshes; new stores to be served by existing distribution network (no new distribution investments required).