Guidance
Fiscal 2022 is difficult to predict as the Company is up against last year’s largest government stimulus and the lifting of COVID-19 restrictions that led to a surge in consumer demand, particularly in the first quarter of fiscal 2021. In addition, the country is currently experiencing unprecedented inflationary pressures which are especially impactful to the Company’s core customers. Furthermore, rising wage rates and increases in supply chain expenses continue from last year. As a result of these macro factors, the Company is updating its guidance. This guidance excludes any impact from the Company’s sale-leaseback transactions or any potential share repurchases.
- First quarter fiscal 2022 total sales decrease of 25-30% as compared to an increase of 39% in the first quarter of fiscal 2021 vs. first quarter of fiscal 2019
- First quarter fiscal 2022 diluted earnings per share of $0.15 to $0.40
- Combined second through fourth quarter fiscal 2022 total sales to increase low-to-mid single digits as compared to an increase of 22% for the same period in 2021 vs. 2019; at the midpoint of guidance, this represents an increase in total sales of 25% to 2019
- Combined second through fourth quarter fiscal 2022 diluted earnings per share of $3.90 to $4.20; at the midpoint of guidance, this represents an increase of 14% vs. the same period in 2021
- Fiscal 2022 diluted earnings per share of $4.05 to $4.60, compared to $6.91 in fiscal 2021 and $1.41 in fiscal 2019
- Expects to open approximately 35 new stores and remodel approximately 50 stores during fiscal 2022
- As of fiscal 2023 and beyond, the Company expects to generate at least 20% year on year earnings per share and operating income growth
