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: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: This is Brad Cheatham on for Paul. I think you mentioned there were a handful of stores that you all were disappointed with or
working on. Just wondering if we could dig in. Is there anything unique about them like geographically or are they similar vintage?
And any additional color on what you might be able to do to remedy that?
Question: Brandon Babcock Cheatham - Citigroup Inc., Research Division - Analyst
: Okay. And then on the markets where you have adjusted your wages, has there been any change since states have rolled off some
incremental unemployment benefits? Just any additional information on that.
Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: So inventories appear pretty lean across retail. You have kind of record price realization. I was wondering if you could give a bit more
color on where exactly your excess supply that you're acquiring is coming from?
Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Got it. And then, I guess, as a follow-up to that, another close-out retail executive this morning basically stated that retail, in general,
could see kind of negative comps next year as this year is kind of full of onetime benefits.
And as supply chain pressures ease, we could see an increase in the flow of merchandise into the country at the same time, these
comps turn negative. I'm curious if; one, you would generally agree with that assessment; and two, it seems like that would really
benefit Ollie's in terms of supply, if that played out?
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