Item 2.02 Results of Operations and Financial Condition.
In connection with a potential registered offering of shares of common stock of
The Company estimates that its comparable sales grew approximately 38.9% during
the first quarter of 2021. This comparable sales increase was driven primarily
by double digit sales growth in all merchandise categories and markets, an
increase in average unit retails, an increase in total transactions and the
positive impact of government issued stimulus checks. Other business trends
during the quarter include the Company's sales mix shifting to a more normalized
level compared to the first quarter of 2020, continuing to operate in a less
promotional environment and fewer clearance sales resulting in continued strong
margin performance. As of
This preliminary financial information is for the first quarter of 2021. The
unaudited, estimated results for the first quarter of 2021, are preliminary,
based upon the Company's estimates and currently available information, and are
subject to revision based upon, among other things, quarter-end closing
procedures and/or adjustments, the completion of the Company's interim
consolidated financial statements and other operational procedures. This
preliminary financial information should not be viewed as a substitute for full
interim financial statements prepared in accordance with the generally accepted
accounting principles in
The information in this Item 2.02 is furnished solely pursuant to Item 2.02 of Form 8-K. Consequently, such information is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. Further, the information in this Item 2.02 shall not be deemed to be incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. --------------------------------------------------------------------------------
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