Slide 1: First Quarter Fiscal 2025 Earnings Call July 31, 2024
FIRST QUARTER FISCAL 2025 EARNINGS CALL JULY 31, 2024
Slide 2: Safe Harbor Statement and Non-GAAP Measures
Safe Harbor Statement and Non-GAAP Measures Certain statements in this presentation, other than statements of historical fact, including estimates, projections, statements related to our business plans and operating results are forward-looking statements within the meaning of the Private Securities
Slide 3: First Quarter Accomplishments & Second Quarter Objectives
First Quarter Accomplishments & Second Quarter Objectives Confidence in Our Recently Implemented Initiatives First Quarter Accomplishments: Second Quarter Objectives: ▪ Drove a significant acceleration in comp store sales trends as the quarter ▪ We will leverage the traction from our initiatives in
Slide 4: First Quarter Fiscal 2025 Highlights
First Quarter Fiscal 2025 Highlights Significant Acceleration in Comparable Store Sales Trends as the First Quarter Progressed led by Growth in Tire Units in June Quarterly Comparable Store Sales Trends Monthly Comparable Store Sales Trends 5% 10% FY24 0.5% 0% 5% 2.4% 0.7% 0.5% FY25 -2.3% 0% -5% -1.
Slide 5: First Quarter Fiscal 2025 Results
First Quarter Fiscal 2025 Results Laser Focused on Maximizing Profitability through Variable Margin Expansion and Prudent Cost Control Q1FY25 Q1FY24 Δ Sales (millions) $293.2 $327.0 (10.3%) Same Store Sales -9.9% 0.5% (1,040) bps Gross Margin 37.2% 35.0% 220 bps Operating Margin 4.5% 5.3% (80) bps A
Slide 6: Solid Financial Position
Solid Financial Position Operating Cash Flow Supports Growth Strategy and Capital Return to Shareholders Disciplined Capital Allocation Strong Balance Sheet and Liquidity First Quarter Fiscal 2025 ▪ Received ~$4M of divestiture proceeds ▪ Generated operating cash flow of ~$26M during Q1FY25 ▪ Capex
Slide 7: Fiscal Q2 & Fiscal 2025 Expectations
Fiscal Q2 & Fiscal 2025 Expectations Fiscal Q2 Expectations Fiscal 2025 Expectations ▪ Preliminary fiscal July comp store sales down 7.6% ▪ Fiscal 2025 is a 52-week year while fiscal 2024 was a 53- week year that benefitted from an extra week of sales ▪ Expects to continue to deliver higher profitab
Slide 8: Appendix
Appendix 8
Slide 9: Reconciliation of Adjusted Diluted EPS (Unaudited)
Reconciliation of Adjusted Diluted EPS (Unaudited) Quarter Ended Fiscal June 2024 2023 Diluted EPS $.19 $.28 Transition costs related to back-office optimization .01 .01 Store impairment charges .01 - Store closing costs .00 .00 Corporate headquarters relocation costs .00 - Acquisition due diligence