Recent FRG transcripts
Associated FRG filings
Andrew Kaminsky | EVP and CAO |
Brian Kahn | President and CEO |
Eric Seeton | CFO |
Ladies and gentlemen, thank you for standing by, and welcome to the Franchise Group's First Quarter Conference Call. At this time, all participants are in a listen-only mode. After the speaker' presentation, there will be a question-and-answer session. I would now like to hand the conference over to your host, Andrew Kaminsky, Executive Vice President and Chief Administrative Officer of Franchise Group.
Thank you, Joel. you our thank call. and afternoon for conference joining Good Franchise with and Group's I'm call Kahn, CFO. Group's Franchise on the Seeton, Brian President Eric CEO; and
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stores, the million respectively. and down May, respectively. revenue month April X% year, same and and open of stores for basis XX.X and month the comps On outlet up approximately former the for were for remained April X% last that for For comparable were million a May XX.X
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an Vitamin pandemic. expectations support down on of be health of of customer XXX to remained the business, specialty quarter the for the the Shoppe Vitamin up as than revenue is COVID-XX. In XX%, products X%, Moving comps over states, on-line of were Shoppe wellness comps health our result up XX down Vitamin an crisis. full less Vitamin company. closed total essential and In a the due to brick-and-mortar than March, Of outperformed met comps open XX% guidelines In most the lifestyle predominantly and quarter, immunity X%. direct-to-consumer improve were the less retailer and with first the month the wellness the and Vitamin peak the Shoppe, to for demand locations, Shoppe during the Shoppe at omni-channel
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the X.X% the reopening XX% and with to the the at track at adjusted steady have comparable May. for this plan Shoppe, stores deliver term As the EBITDA our beginning improvement purchase for $XX regular schedule, Shoppe over down original more loans. a of own million began our our in retired sales on Vitamin its $XX.X end fiscal from overall April seen a Year-to-date, Vitamin account we've At million time, operating down of year. weekly we is to of
We reduce toward lasting million year. believe the wellness have $XX a in term than a no general more end sentiment Shoppe. consumer immune shift further will to positive system there expect of the the loan by liabilities witnessed and and is Overall, support the Vitamin impact on we
XX of returns Liberty in time Adding the not annual overall to number still will tax the to a the a its final season. the tax they but IRS challenging hit volume assisted that the XX When to the its XXXX for Liberty prep April the virus States months return of United expected U.S., cost filing fully tax year had additional tax Tax, deadline the remain filed Turning our result from need may business, to assisted change and in in of need franchisees Liberty tax as of XX% open. market the to had three would return to structure days prep due extending has season it the reduce file March, be to XX. over the overall that dramatically July mid the
These is As In Liberty XXXX won't year management on results. more seasonality a team the working management all a more been in customers the prepare season strides to to and dramatic significant be made Liberty, operational fully result over provide management services. value business and recognized Liberty's execution. create financial for season. last the focused cost franchisees efforts this balanced we've to move order and and products year's at added
will out as these for market. We to rolled they provide more are the initiatives details
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to franchisees, only Buddy's stagger associates impact be business remote time, communities May, year resilient. retailer XX% XX% XXX work to traffic, the increase stimulus. arrangements over specialty to franchise Buddy's their lease operates foot like expect daily retain kept past the has a financial Buddy's franchise and Buddy's orders on business of is and projecting space capitalized centered discuss time. locations our stores and With more and we a to while serving XX% to Home stores. during more goods all increase remained consistent has prior Finally, as well extremely X,XXX dramatic the it Aaron's its Buddy's more this Buddy's Rent Furnishings improvement Overall, Buddy's track respectively experiences from both like than the wellness. first personal commitment companies than sophisticated household above online quarter products at XX% balance as providing green lot schedules and than downturns, we Rent-A-Center local critical own own or realized total of well. appliances, States resilient in to Buddy's over an I to of periods. economic would considering combine have year. experienced be with electronics, our business. XX% planned performed rent Franchise X,XXX and reduced the proven expected and and create such are pandemic, the sales better for in durable own and of a locations at as to over Company's has our and in the and rent has the over especially locations April essential grow, United than Group plan is and online the that of to business, open franchises others In household furniture, Throughout accessories. government Buddy's remain associates believe
call very for dedication of is the work turning would to their hard to yours. thank company all in I environment. Eric, difficult and to Before associates over floor the a our Eric, our like
Brian. Thank you,
I like Before results references many I remind we making pro the that call. be address items will of forma would to operations, you to throughout the
Comparisons and to have a pro and acquired items not policy acquisition. press of Franchise recently releases been the discover with to and filings when prior fiscal due results a accounting Our changed timing acquired recent Group. evaluate may by practicable. financial current allow historical of the available refer period to to forma performance us of their our adjusted results is the align the acquisition These for calendar will to to extent comparable the companies businesses
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three still ended and have million and Freights Liberty respectively. XXXX, respectively. revenue $XX.X million $XXX.X segments revenue The Liberty million adjusted adjusted million and had of revenue EBITDA We Buddy’s. million revenue With has EBITDA Tax Tax XX, and $X.X timing forma pro Buddy's American million of had adjusted March Liberty had pro Shoppe majority Vitamin of forma respectively, reported the and in month Freights, due Shoppe, to the American and and million its forma $XX.X QX EBITDA $XXX.X Vitamin revenue and seasons. adjusted pro and and forma pro of and EBITDA of the EBITDA Tax million taxes $XX.X $XX.X typically respectively. of a $XX.X had
the As in filing the Brian challenges revenue. new has at lag end will of in change season some created tax create earlier, the deadline the mentioned a which Liberty,
positions, alongside actions Turning and our the and cash balance to suppliers to first quarter, working possible. to flow, sheet liquidity we where took during our specific terms landlords consisting extend of bolster
million find have flow to of capital cash quarter, flow less cash the $XXX.X operating For as expenditures. free we
year, low of which most very $X.X the new million CapEx relatively rebranding and had openings for the maintenance. a million, are budget small as the material included for have needs $X.X of to programs outstanding At that $XXX the quarter CapEx CapEx tied have $X.X we of will to total cost we year. each be estimate and was store quarter second to this Although, opposed completed $XXX.X million be Sears debt the the end and of stores quarter, million. during in had the approximately the Outlet should million we rebranding We Freight. American cash a
used quarter, $XXX acquired $XXX million Vitamin of the outlets the allow first of we end the and recapitalized million and in of Shoppe $XX the year us turn cash initial credit. debt we and loan. of first to of term simultaneously Buddy’s loan term loan By end acquire eliminating million quarter, Subsequent $XX to anticipate Company. to During the asset-based the Freight the through we amended ownership, million pre-pay our $XXX line American to million
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was with to NOLs current provision to the first and to most us These has expected regards carry compared our back opportunity the million. of The XXXX tax XX% five-year of are federal when income taxable amended actions carry to certain for rate taxes. been provide approximately operating and years, corporate of to aggregate XXXX the in cash $XX ability with material We net returns take XX%. the benefit advantage back rate loss
In XX% an our will XXXX to of on December XXXX, opportunity payable be to taxes be addition, payable interest-free XX% us million, XX, estimated the on payable December we which the balance XX, $XX taken have loan advantage and for effectively of providing XXXX. defer
Brian discuss business performance, support year. remainder to the of sufficient guidance regardless to retention liquidity obligations at of contribution continue working under earned could for conjunction all keeping back foreseeable businesses during turn we those are meet we our of our be by worth In the the will million. Finally, CARES for which the are their of obtaining on credits, our call future. and sheet our estimate full Act, have over I $X balance all we salaries, exempt and pandemic. to And the we employee to associates believe with our
Eric. Thanks,
per for XXth, a despite COVID-XX. all very we can As of pro XXXX we of of of guidance from $XXX model to the our which to American non-GAAP own of $XXX we adjusted expectations, share preliminary year. impact full you of have per $X.XX $X.XX performing that share, EBITDA earnings results, million March and assumed the ahead to $X.X On for billion, million, all revenue $X.XX see provided billion forma resilient Freight of is
want we raising at share end high earnings are range As EBITDA non-GAAP and guidance to thank shareholders of and of to businesses all today $X.XX. per their be lenders that adjusted easy together our believe open at putting will for Operator, the I our short with today, for of please task. the support line revenue pro for all in no we these and order you. questions. of Thank least forma
for Okay, this Operator, all the thank again call. can you you us joining afternoon. please conclude
Ladies gentlemen, for participating. you today's and conference call. this concludes Thank
You may now disconnect.
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