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    Eric Cohen • Gordon Haskett Research Advisors

    Eric Cohen's questions to Foot Locker Inc (FL) leadership

    Eric Cohen's questions to Foot Locker Inc (FL) leadership • Q3 2024

    Question

    Eric Cohen asked if the growth in brands like On and HOKA is attracting new customers or simply shifting sales from existing ones. He also questioned if the new FLX loyalty program is bringing in new shoppers and how their spending habits compare to non-members.

    Answer

    EVP and CCO Frank Bracken explained that the growth is from 'some of both,' as existing customers broaden their brand choices while brands like HOKA and On also attract 'net new consumers' to Foot Locker. Regarding the FLX program, he stated it is converting existing shoppers and attracting new ones, with members showing higher spend, basket size, and units per transaction, along with early positive signs in shopping frequency.

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    Eric Cohen's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership

    Eric Cohen's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership • Q2 2025

    Question

    Eric Cohen asked if Ollie's growing scale is resulting in better deals and new vendor relationships, particularly from competitors like Big Lots. He also inquired about the current status of inventory shrink and its potential future impact on gross margin.

    Answer

    CEO John Swygert confirmed that deal flow is 'great' and they are adding new vendor relationships but did not comment on specific competitor situations. CFO Robert Helm stated that shrink has 'hit a plateau' and that the company's model is to reinvest any potential margin upside from improvements back into price to benefit the consumer, rather than targeting a gross margin above 40%.

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    Eric Cohen's questions to DICK'S Sporting Goods Inc (DKS) leadership

    Eric Cohen's questions to DICK'S Sporting Goods Inc (DKS) leadership • Q2 2024

    Question

    Eric Cohen, on for Chuck Grom, asked if the incremental SG&A investments are a pull-forward from 2025 or entirely new spending, and inquired about the quantifiable impact of House of Sport conversions and the Olympics.

    Answer

    CFO Navdeep Gupta described the SG&A investments as a combination of both pull-forwards from 2025 and new incremental spending, timed ratably across Q3 and Q4. He reiterated that the Olympics is primarily a brand-building event with no significant sales impact and noted the House of Sport conversion benefit was in line with previous expectations for the first half.

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