One of
The company's emphasis on its rewards program underscores the growing value of personal shopping data in the highly competitive retail environment.
"In addition to the rich first-party data we can mine through our Triangle Rewards loyalty program, our Triangle credit card provides critical insights into our customers and their preferences and shopping behaviours,"
"Our ability to engineer demand with our high-low programming across all banners has us being much more relevant," he said. "We feel prepared to address any concerning shifts and spend behaviour at a customer level."
Overall, the company reported net income attributable to shareholders of
Revenue for the quarter ended
Comparable sales at its
The company's Mark's banner saw comparable sales gain 17.1 per cent amid stronger sales of industrial footwear and jeans while SportChek stores gained 10.2 per cent on higher winter sports and apparel sales.
Meanwhile,
In testing, the offer widget drove a 17 per cent increase in sales at
"If you went back two years ago, you would have seen a lot more of a store being 20 (per cent) off as an example," said
"The use of targeted promotional offers is much more significant than it's been in the past."
Using customer data to target sales more effectively also benefits margins.
"With all of the data we have at our disposal, we've never been more able to really understand the value consumers crave," said TJ Flood, president of
"We're always trying to strike that balance between managing margins and inspiring demand and also not giving an inch on being priced competitively."
Still, the company is managing through a tight labour market and ongoing supply issues.
"When you look at labour in the marketplace right now, it is challenging," Flood said. "But our dealer network is very entrepreneurial, and very, very aggressive at the local level with attracting and retaining talent."
Although there are concerns about how shutdowns in
"It's important to know that the ports in
Hicks added that the company has adjusted lead times and is continuing to use charter vessels to ensure inventory arrives on time.
While shoppers may start to rein in spending amid high inflation, he said the company is ready to roll out its "demand elasticity drivers" and rewards program to deliver choice and value to customers.
This report by
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