Strong Fourth Quarter Results
Fourth quarter net sales and adjusted EPS were near the top of the guidance ranges. The holiday season was particularly strong, with a 2% increase in comps for December.
Long-term Growth Strategy
The company continues to focus on its four-point North Star strategy, emphasizing long-term shareholder value, owning a portfolio of lifestyle brands, evoking happiness in consumers, and generating cash to reinvest in growth.
New Store Openings and Investments
Plans to open approximately 20 new stores, including four Marlin bars. Completed significant upgrades to e-commerce websites and a new distribution center to enhance inventory velocity and sell-throughs.
Shareholder Returns
The Board approved a 3% increase in the quarterly dividend, continuing the streak of paying dividends since going public in 1960. Purchased $50 million worth of stock early in the fiscal year.