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: Andrew Lopez - TD Securities - Analyst
: Thanks. Good morning, and thanks for the question. Just going to start with the consumer here. To the extent you can, and realizing it's a seasonally
weak quarter, what have you seen in terms of consumer trends, including any negative impact from tariffs -- on traffic and basket, and then just
declining consumer confidence? And on the positive, any Buy Canadian themes that you see taking hold?
Question: Andrew Lopez - TD Securities - Analyst
: Okay, great. And then just maybe following up on that, so you're just saying low impact from tariffs. In terms of exposure to USD sourcing, what
does that look like and what initiatives do you have in place to offset or preserve margin loss from those exposures?
Question: Andrew Lopez - TD Securities - Analyst
: Okay, great. Just a couple more for me. I recall you had ambitious marketing initiatives upon the last call, looking forward to fiscal '25. So does that
outlook get fine-tuned, either to the upside or downside, given today's uncertain outlook?
Question: Andrew Lopez - TD Securities - Analyst
: Okay. Maybe last one. How are you approaching your inventory for the fall-winter season? Same thing with the economic uncertainty and consumer
uncertainty. And just, how do you anticipate your automated replacement system will work there?
Question: Andrew Lopez - TD Securities - Analyst
: Okay. Yeah, and I guess I recall you saying maybe that you were -- looking into Q1, you guys are in pretty good inventory position in terms of
non-current. Great those on there, but --
Question: Andrew Lopez - TD Securities - Analyst
: So I guess that's working pretty well so far, the automated replenishment. And then, let me sneak one more in here -- I'm sorry. I'll just sneak one
more in here.
Question: Andrew Lopez - TD Securities - Analyst
: Okay. Yeah. I just want to ask, in terms of -- what leverage are you guys targeting for fiscal '25 with the NCIB?
Question: Andrew Lopez - TD Securities - Analyst
: That's great. Congratulations on the strong quarter. Thanks for the questions.
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