Return to Positive Comparable Net Sales
First positive quarterly comparable net sales result since 2021, with positive comps in each month of the quarter, and positive comps in stores for each week of the quarter.
Improvement in Gross Margin
Gross margin improved by 460 basis points to 30.5% from 25.9% last year, driven by higher initial markups and lower total markdowns.
Reduction in Net Loss
Net loss improved to $1.4 million or $0.05 per share compared to $12.9 million or $0.43 per share last year.
Successful Marketing and Assortment Strategy
Positive impact from strategic initiatives in merchandise assortment, inventory planning, marketing, and expense management.
Launch of AI-driven Tools
Introduction of AI-driven price optimization tool and plans for AI-driven merchandise replenishment and allocation tool and RFID implementation.