The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: So you mentioned that March organic growth was down high single digits, but perhaps there's a lower bar in the other months for the quarter
since it was an all-time high in March. What are your hopes for the pace of organic growth in the quarter as a whole?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Got you. And inventory rose quarter-over-quarter, you're hopeful for a decline this year. Can you give us an update on how that's trending so far
in Q2 and where you hope to end the year?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: That's great. Quick questions on your organic expansion projects. For locations where there isn't a showroom in place, how much does it cost to
set one up. And do all of your facilities lend themselves to an extra room being used in that way?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Okay. That's great color. And then on those expansion projects, what's left to do in the quarters ahead?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: How do clients generally respond when you consolidate facilities? Is there any loss in relationships there? Does it carry over a while?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Great. And then just one last one. Gross margins seem stable, no pricing deflation yet. Could you give us more color on the return of operating
expenses to closer to pre-pandemic levels? How will that impact margins in future quarters?
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APRIL 06, 2023 / 7:00PM, RCH.TO - Q1 2023 Richelieu Hardware Ltd Earnings Call
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