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| Statement |
|---|
| PSP store traffic was up 2.4% over 6.3 million customers and store average order values were up over 15% or $6 in the first quarter |
| At PSP system-wide same store sales comps were up 5.9% in the first quarter |
| Average store -- store average order values were up approximately $60 to $760 on increased in-store traffic of over 10% to approximately 260,000 customers in the quarter |
| In April PSP's system-wide comps were up 6.2% with franchisee comps up 7.7%, corporate stores up 4.4% |
| Franchise comps were up 7.1% in the quarter while corporate stores were up 4.1% |
| Store traffic in the first quarter was up 2.9% |
| Vitamin Shop overall comps were up 3.4% in the first quarter and were up 1.9% in April |
| Sylvan same center comps were up 0.1% in the quarter |
| In the first quarter, Buddy's signed agreements for 11 new franchise locations growing its backlog to 121 new franchise stores |
| Freight costs declined from 4.6% of sales to 3.5% of sales in the first quarter |
| I want to thank all of our shareholders and lenders for their support |
| Good morning and thank you for joining our conference call |
| Brian Kahn Thank you, Andrew, and good morning to our listeners and thank you for joining us |
| Statement |
|---|
| Badcock's system-wide comps were down 18.9% for the first quarter and were down 26.2% in April |
| For the first quarter of 2023, Buddy's system-wide, same store sale comps were negative 3.5% with franchisee e-comps declining 3.0% and corporate stores declining 7.0% |
| Comps in April were down 12.9% |
| In April Buddy's system-wide e-comps were down 7.8% with franchisee e-comps down 7.8% and corporate stores down 7.7% |
| Transaction comps were down 19.4% in the first quarter |
| Customer traffic was down approximately 15,000 customers to approximately 110,000 customers in the quarter |
| American Freight comps were down 4.1% in the first quarter |
| PSP transaction comps were down 1.5% |
| Average order values were nominally down less than 1% in the quarter to $1,159 |
| As I noted earlier, management was unable to recommend that the board declare a regular quarterly common stock dividend this quarter due to restrictions in our credit agreements |
| Comps were up 2.6% in January, down 2.1% in February and down 9.6% in March |
| Net loss was $108.3 million or $3.16 per fully diluted share |
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