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: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: I just wanted to -- just to clarify one thing. When you talked about back half earnings being down year-over-year, was that consolidated? Or are
you talking about just the international business?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: And then just on -- just when we think about gross margin, lots of good color around some of the price -- or cost increases that are coming through.
It sounds like you'll see some pressures in the back half of this year. But do you see any sort of life at the end of the tunnel as you get into fiscal --
the next fiscal year, sort of Q1, Q2 when you begin to cycle some of the declines from this year?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Okay. And is it fair to say that, when you're talking about the earnings weakness in the back half of the year, is it a combination of just those sales
headwinds as you comp against some of those income programs as well as gross margin headwinds in the back half of the year?
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Yes. Okay. Okay, great. Thank you. And then just one final one. Thinking about the inventory composition, you gave some color in your prepared
remarks, how much of that inventory is sort of seasonal product that you might have to face -- you might have to put further markdowns on?
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SEPTEMBER 08, 2022 / 3:00PM, NWC.TO - Q2 2022 North West Company Inc Earnings Call
Question: Stephen MacLeod - BMO Capital Markets Equity Research - Analyst
: Right. Okay. Okay, great. Thanks, Dan. And then just one for John, just curious if you could give a little bit of color if you have any insight or views
into the tax rate for the bonds?
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