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    Laura Champine

    Research Analyst at Loop Capital Markets LLC

    Laura Champine is Director of Research and Senior Consumer Analyst at Loop Capital Markets LLC, specializing in coverage of major consumer and retail companies, including names like Whirlpool. She maintains a strong analyst track record with a 63.89% success rate and an average return of 4.92% on her stock recommendations. With a career that has included previous roles as Managing Director and a history of leadership in equity research, Champine brings deep sector expertise to her analyses; she joined Loop Capital after holding similar senior analyst positions elsewhere. She holds relevant securities licenses as verified through FINRA and is recognized for her detailed, influential research within the industry.

    Laura Champine's questions to CALERES (CAL) leadership

    Laura Champine's questions to CALERES (CAL) leadership • Q1 2025

    Question

    Laura Champine from Loop Capital Markets asked about the Jordan launch at Famous Footwear, questioning if it caused a significant trend shift and what the expectations are for back-to-school. She also inquired if recent tariff news would alter the company's sourcing strategy away from China and requested more clarification on the comment that the Brand Portfolio's wholesale order book is 'fluid'.

    Answer

    SVP & CFO Jack Calandra noted that the Jordan launch on May 17 was too recent and limited in scope to have a major impact yet, but the company is excited for the all-door rollout for back-to-school. President & CEO Jay Schmidt stated that despite recent news, their sourcing plan remains unchanged as they feel good about their factory placements. Regarding the 'fluid' wholesale book, he clarified that while there are shifts underway, they are encouraged by improving direct-to-consumer retail trends and better sandal selling in the Brand Portfolio.

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    Laura Champine's questions to CALERES (CAL) leadership • Q1 2025

    Question

    Laura Champine asked about the initial sales impact from the Jordan brand launch at Famous Footwear. She also questioned if recent tariff news would alter the company's sourcing strategy away from China and sought clarification on the 'fluid' nature of the domestic wholesale order book for the Brand Portfolio.

    Answer

    SVP & CFO Jack Calandra stated that the Jordan launch on May 17 was too recent to show a significant trend but noted the company is excited for its potential. President & CEO Jay Schmidt confirmed that sourcing plans remain unchanged for now due to the fluid environment. He added that while the wholesale book is in flux, improving retail trends and strong sandal sales in the Brand Portfolio are positive signs.

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    Laura Champine's questions to CALERES (CAL) leadership • Q1 2025

    Question

    Laura Champine asked if the recent Jordan launch at Famous Footwear caused a significant trend shift and how recent tariff news might alter the company's sourcing strategy away from China. She also requested more clarification on the comment that the Brand Portfolio's wholesale order book is 'fluid'.

    Answer

    Jack Calandra, SVP & CFO, stated that the Jordan launch on May 17 was too recent to show a significant trend but noted the company is excited about its potential. Jay Schmidt, President & CEO, clarified that sourcing plans remain unchanged for now despite the fluid tariff situation, as the company feels good about its current factory placements. He added that while the wholesale book is fluid due to sourcing shifts, the direct-to-consumer business saw improving trends in May.

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    Laura Champine's questions to CALERES (CAL) leadership • Q4 2024

    Question

    Laura Champine of Loop Capital Markets followed up on the Brand Portfolio's expected improvement, asking if full-year guidance could be met without a trend improvement in the core business. She also questioned the expected progression of markdowns throughout the year after a challenging Q1.

    Answer

    CFO Jack Calandra confirmed that the guidance can accommodate a decline in the base business, as growth from specific initiatives like lapping the $15 million SAP upgrade impact and international expansion are substantial. CEO John Schmidt noted that inventory is now more current, suggesting markdown pressures from Q4 are largely resolved. Jack Calandra added that Q1 gross margin is expected to decline, impacting profitability.

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    Laura Champine's questions to CALERES (CAL) leadership • Q3 2024

    Question

    Laura Champine questioned the drivers behind the downward revision in operating margin guidance, asking if it was primarily due to Q4 markdowns or the impact of a customer credit issue. She also sought to understand the relative size of the affected customer and the China business as a percentage of total sales.

    Answer

    CFO Jack Calandra clarified that the Q4 operating margin decline is expected to be driven by lower gross margin at the Brand Portfolio, where the company plans aggressive markdowns to clear slow-moving inventory. Regarding the credit issue, he confirmed shipments were suspended and the receivable was reserved for in Q3. He ranked the Q3 top-line miss drivers as: 1) weak boot sales, 2) late athletic product receipts, and 3) the customer credit issue. CEO Jay Schmidt stated that the entire international business is less than 5% of total sales, with China being the largest component of that.

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    Laura Champine's questions to CALERES (CAL) leadership • Q2 2024

    Question

    Laura Champine of Loop Capital Markets asked about the ongoing financial impact of the recent ERP system issues and the primary drivers behind the strong sales rebound observed in August.

    Answer

    CEO John Schmidt stated that the ERP issues have been addressed and should have an immaterial impact on the second half of the year, as systems are now operational with necessary workarounds in place. He attributed the August sales rebound to a combination of three factors: being better positioned with key athletic brands, the margin-accretive success of a BOGO promotion, and a highly focused marketing campaign on kids' footwear.

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    Laura Champine's questions to CALERES (CAL) leadership • Q1 2025

    Question

    Laura Champine asked about the initial sales trend from the Jordan brand launch at Famous Footwear, whether recent tariff news would alter the company's sourcing strategy away from China, and for clarification on the 'fluid' nature of the domestic wholesale order book for the Brand Portfolio.

    Answer

    SVP & CFO Jack Calandra stated that the Jordan launch on May 17 was too recent to show a significant trend but noted the company is very excited about its potential. President & CEO Jay Schmidt confirmed that Caleres is sticking to its current sourcing plan despite the fluid tariff environment, feeling confident in their factory placements. He added that while the wholesale book is in motion due to sourcing shifts, improving retail trends and strong sandal sales in May are positive signs.

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    Laura Champine's questions to CALERES (CAL) leadership • Q1 2025

    Question

    Laura Champine asked about the impact of the Jordan brand launch on Famous Footwear's quarter-to-date performance, whether the sourcing strategy in China would change if recent tariffs were reversed, and for clarification on the 'fluid' nature of the Brand Portfolio's wholesale order book.

    Answer

    SVP & CFO Jack Calandra stated that the Jordan launch on May 17 was too recent to have a significant impact on trends. President & CEO Jay Schmidt confirmed that the company is maintaining its current sourcing plan despite the fluid tariff situation. He added that while the wholesale business is in flux due to sourcing shifts, direct-to-consumer trends improved in May.

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    Laura Champine's questions to ROSS STORES (ROST) leadership

    Laura Champine's questions to ROSS STORES (ROST) leadership • Q1 2025

    Question

    Laura Champine sought clarity on the company's sourcing strategy, asking where the percentage of goods from China would be at year-end if it is over 50% today and tariffs remain at current levels.

    Answer

    Executive James Conroy responded that flexibility to shift sourcing is limited in the short-term (3-6 months) because product for upcoming seasons is already largely committed from China for all retailers. He was not prepared to provide a specific year-end sourcing percentage, emphasizing that merchants prioritize finding compelling value for customers, regardless of the country of origin.

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    Laura Champine's questions to ROSS STORES (ROST) leadership • Q1 2025

    Question

    Laura Champine from Loop Capital Markets sought a clearer understanding of the tariff strategy, asking where the company expects its percentage of goods sourced from China to be by year-end, assuming current tariff levels persist.

    Answer

    Executive James Conroy responded that flexibility to shift sourcing is limited in the near-term (3-6 months) as much product is already set to be imported from China for all retailers. He was not prepared to give a specific country sourcing percentage for year-end, emphasizing that the merchants' focus is on delivering a compelling assortment at a great value, regardless of origin.

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    Laura Champine's questions to ROSS STORES (ROST) leadership • Q4 2024

    Question

    Laura Champine asked if an improvement in the comp trend could be achieved solely through better weather, or if it necessitates market share gains or a better macroeconomic environment.

    Answer

    Group President and COO Michael Hartshorn responded that while weather helps, much depends on the macro backdrop. He emphasized that the off-price model operates well in tough environments, as it creates more closeout opportunities, allowing them to pass better value to consumers, referencing their successful navigation of the 2008-2009 recession.

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    Laura Champine's questions to ROSS STORES (ROST) leadership • Q3 2025

    Question

    Laura Champine asked about potential changes to the incoming CEO's direct reporting structure and the rationale for hiring an external candidate from a smaller company at this particular time.

    Answer

    CEO Barbara Rentler assured that the incoming CEO will be supported by a deeply experienced team, with direct reports having 25-30+ years of tenure at Ross. She explained the timing of the hire was driven by finding the right person, Jim Conroy, after a comprehensive 1.5-year search. She described it as an opportunistic decision to secure the right leader for the company's future.

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    Laura Champine's questions to ROSS STORES (ROST) leadership • Q2 2024

    Question

    Laura Champine asked about the duration of the 'additional efficiencies' benefiting the second-half guidance, questioning if it's a long-term program or a more temporary benefit.

    Answer

    Group President and COO Michael Hartshorn described the efficiencies as a mix of numerous initiatives with varying timelines; some will conclude this year, while others will extend into the next. He stressed that the company is continuously working on a 'next generation' of efficiencies and that the long-term model of growing EBIT margin on a 3% to 4% comp remains unchanged.

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    Laura Champine's questions to Crocs (CROX) leadership

    Laura Champine's questions to Crocs (CROX) leadership • Q1 2025

    Question

    Laura Champine sought a more reasonable expectation for tariff-related cost increases and asked about the company's latest thinking on the elasticity of demand if prices rise industry-wide.

    Answer

    CEO Andrew Rees responded that it's impossible to quantify a precise tariff cost but noted they are not seeing cost increases from their key Southeast Asian partners. Regarding demand elasticity, he acknowledged that volumes would likely decrease with higher prices but stated he would rather protect margins to fund marketing than cut prices and lose the ability to communicate with consumers.

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    Laura Champine's questions to Crocs (CROX) leadership • Q4 2024

    Question

    Laura Champine inquired about the company's pricing philosophy in relation to its 24% long-term operating margin target and asked for the year-over-year comparison for HEYDUDE's 7% ASP increase in Q4.

    Answer

    CEO Andrew Rees explained that pricing is determined on a market-by-market basis, considering competition and brand strength. While pricing has been a past margin driver, no significant increases are planned in the short term. He noted that HEYDUDE's recent ASP increase was driven primarily by a reduction in discounting rather than absolute price hikes.

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    Laura Champine's questions to STEVEN MADDEN (SHOO) leadership

    Laura Champine's questions to STEVEN MADDEN (SHOO) leadership • Q1 2025

    Question

    Laura Champine asked for details on the magnitude of the price increases being implemented and whether they fully offset cost pressures. She also inquired if Steve Madden's pricing strategy is consistent with the broader industry.

    Answer

    CEO Ed Rosenfeld explained that the company is taking a "surgical approach" at the style level, with price increases ranging from 0% to as high as 20%, averaging around 10%. He emphasized the situation is fluid and they will monitor demand elasticity. He noted it was too early to comment on how their pricing actions compare to the rest of the industry.

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    Laura Champine's questions to STEVEN MADDEN (SHOO) leadership • Q4 2024

    Question

    Laura Champine of Loop Capital Markets LLC asked if the attractive valuation on the Kurt Geiger deal was indicative of a broader market trend and if the company was open to more M&A. She also questioned if the wholesale footwear business grew in Q4 excluding the mass channel.

    Answer

    Chairman and CEO Edward Rosenfeld stated that the company's primary focus for the year will be integrating the Kurt Geiger acquisition, suggesting other major M&A is unlikely in the near term. He clarified that the branded wholesale footwear business was down approximately 3% in Q4 but is expected to return to low-single-digit growth in Q1 and for the full year 2025.

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    Laura Champine's questions to STEVEN MADDEN (SHOO) leadership • Q3 2024

    Question

    Laura Champine of Loop Capital Markets asked about the likely gross margin impact of the company's plan to move a significant portion of its production out of China.

    Answer

    Chairman and CEO Edward Rosenfeld stated that it is too difficult to quantify the potential impact at this time. He noted that a new tariff policy would have wide-ranging implications on the supply chain, the overall economy, and supply-and-demand dynamics, making it too early to speculate on the specific margin effect.

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    Laura Champine's questions to MOHAWK INDUSTRIES (MHK) leadership

    Laura Champine's questions to MOHAWK INDUSTRIES (MHK) leadership • Q1 2025

    Question

    Laura Champine asked if a material amount of product will be re-sourced to U.S. facilities and the associated costs and benefits. She also questioned if an influx of Chinese LVT into Europe would impact pricing there.

    Answer

    CEO Jeff Lorberbaum explained that products from Mexico face no tariffs, so no changes are needed there. He stated the company will balance internal and external supply, maximizing utilization of its U.S. factories where it has some available capacity. Regarding Europe, he noted that prices are already very low, and it's uncertain if they can go much lower, regardless of Chinese supply shifts.

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    Laura Champine's questions to MOHAWK INDUSTRIES (MHK) leadership • Q4 2024

    Question

    Laura Champine followed up on the tariff discussion, asking for the specific value of products Mohawk imports from Mexico and exports from the U.S. to Canada.

    Answer

    CEO Jeff Lorberbaum provided precise figures, stating that Mohawk imports approximately $300 million in products from Mexico and exports approximately $200 million to Canada.

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    Laura Champine's questions to MOHAWK INDUSTRIES (MHK) leadership • Q3 2024

    Question

    Laura Champine followed up on the hurricane impact, asking for help framing the potential revenue lift from rebuilding efforts next year. She also questioned if the European business should be expected to recover on a lagging basis compared to other geographies.

    Answer

    Chairman and CEO Jeff Lorberbaum explained that estimating the rebuild benefit is difficult, as the timeline can stretch over a couple of years depending on the extent of damage and labor availability. Executive James Brunk added that while the pace of recovery in Europe is hard to predict due to political uncertainties, the European Central Bank has already cut rates three times, which should help stimulate activity in the category.

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    Laura Champine's questions to ONESPAWORLD HOLDINGS (OSW) leadership

    Laura Champine's questions to ONESPAWORLD HOLDINGS (OSW) leadership • Q1 2025

    Question

    Laura Champine noted the significant share repurchase activity in Q1 and the newly re-authorized program, asking how sensitive the company's buyback strategy is to any potential signs of business softening.

    Answer

    Executive Stephen Lazarus explained that the share buyback program is not necessarily contingent on business strength, as the company has historically generated strong free cash flow even in downturns. He clarified that the decision to repurchase shares is driven more by the stock's valuation and a perceived dislocation between its market price and intrinsic value, suggesting they will continue to be opportunistic.

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    Laura Champine's questions to ONESPAWORLD HOLDINGS (OSW) leadership • Q4 2024

    Question

    Laura Champine of Loop Capital Markets asked for an update on the product architecture restructuring (good, better, best) and whether the guidance implies a continued pace of growth in prebooking revenue.

    Answer

    CEO Leonard Fluxman described the SKU rationalization and pricing transformation as a complex, ongoing process that is being implemented banner by banner. He affirmed that prebooking remains a key focus, given that prebooking guests spend over 30% more, and the company continues to push its partners to enhance this channel.

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    Laura Champine's questions to ONESPAWORLD HOLDINGS (OSW) leadership • Q3 2024

    Question

    Laura Champine asked if there has been any progress on getting cruise lines to share more passenger data for personalized offers and what tools OneSpaWorld can use to drive pre-bookings higher without it.

    Answer

    CEO Leonard Fluxman stated that cruise lines remain very protective of their data and are unlikely to share more. To drive pre-bookings, he explained that the company collaborates with partners to improve the online spa booking experience through better imagery, videos, and website navigation. A key strategy is working with cruise line marketing teams to emphasize the value and necessity of prebooking to secure desired services.

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    Laura Champine's questions to ONESPAWORLD HOLDINGS (OSW) leadership • Q2 2024

    Question

    Laura Champine questioned the growth strategy for the product segment, asking about the potential for adding new product lines, pursuing M&A, and expanding the e-commerce business.

    Answer

    Executive Chairman Leonard Fluxman stated that the company's partnership with Elemis is sufficient, citing a strong R&D collaboration and a long-term supply agreement that make new product lines or M&A unnecessary. He noted that while the e-commerce channel is improving, the primary focus remains on the core Elemis partnership.

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    Laura Champine's questions to WHIRLPOOL CORP /DE/ (WHR) leadership

    Laura Champine's questions to WHIRLPOOL CORP /DE/ (WHR) leadership • Q1 2025

    Question

    Laura Champine of Loop Capital Markets asked about the potential impact on Whirlpool's outlook if China tariffs were significantly reduced and whether the effects of competitors pre-shipping inventory ahead of tariffs would persist beyond Q1.

    Answer

    Marc Bitzer (executive) explained that while a 145% tariff is unlikely, even a 20% rate alters commercial behavior, and a full rollback is improbable. He confirmed that Asian competitors increased imports by 30% in Q4 and early Q1, creating market disruption that is expected to continue into Q2. However, he expressed confidence that Whirlpool can manage this dynamic as it did in the first quarter.

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    Laura Champine's questions to WHIRLPOOL CORP /DE/ (WHR) leadership • Q4 2024

    Question

    Laura Champine questioned the performance of the Small Domestic Appliances (SDA) business, which was light on sales and margins, and asked how management gains confidence in its marketing investments and product strength in that segment.

    Answer

    CEO Marc Bitzer contextualized the performance by noting the overall SDA market is flat to negative, whereas Whirlpool achieved single-digit growth. He attributed the Q4 margin pressure directly to significant, planned marketing investments to support new product launches in categories like coffee makers. Bitzer stated these are crucial investments for future growth and that the company is pleased with the early momentum, though it will take time to build awareness.

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    Laura Champine's questions to WHIRLPOOL CORP /DE/ (WHR) leadership • Q3 2024

    Question

    Laura Champine asked for confirmation on market share performance in the Small Appliances (SDA) segment amid industry weakness and questioned why the revenue guidance for North American majors was not lowered given the challenging macro environment.

    Answer

    CEO Marc Bitzer stated that the company is comfortable with its full-year SDA revenue growth guidance of over 7%, attributing the Q3 decline to shipment timing rather than fundamental weakness. For North American majors, he emphasized that the primary focus is on margin expansion, not chasing revenue. He noted that market share has been recovering since the April pricing actions and that the current revenue outlook is aligned with market expectations.

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    Laura Champine's questions to TJX COMPANIES INC /DE/ (TJX) leadership

    Laura Champine's questions to TJX COMPANIES INC /DE/ (TJX) leadership • Q4 2025

    Question

    Laura Champine requested a more detailed breakdown of the Q1 profit margin guidance to understand the underlying profitability, and asked about the drivers behind the significant step-up in store openings for T.K. Maxx in Europe.

    Answer

    CFO John Klinger attributed the Q1 margin deleverage to lapping a prior-year CARES Act benefit, negative interest impact, inventory hedge timing, and wage costs, but did not quantify them individually. He then stated that the European store growth is largely concentrated in Germany, with additional opportunities in Austria, the Netherlands, Poland, the U.K., and Ireland.

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    Laura Champine's questions to COSTCO WHOLESALE CORP /NEW (COST) leadership

    Laura Champine's questions to COSTCO WHOLESALE CORP /NEW (COST) leadership • Q1 2025

    Question

    Laura Champine of Loop Capital Markets asked for management's assessment of Costco's online presence and whether the growth in online member sign-ups is a deliberately driven strategy.

    Answer

    Executive Gary Millerchip acknowledged that while Costco's e-commerce has grown faster than the U.S. average over the last decade, they are their own toughest critic and believe there is more work to do to improve the member experience. Executive Ron Vachris added that foundational back-end work on speed and stability is underway, with more front-end improvements coming. Regarding online sign-ups, he noted they attract fewer Executive Members initially, as there's no employee to explain the benefits, but it's a way to start the member relationship.

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    Laura Champine's questions to Honest Company (HNST) leadership

    Laura Champine's questions to Honest Company (HNST) leadership • Q3 2024

    Question

    Laura Champine of Loop Capital Markets asked for a quantification of the price/mix benefit on gross margin and sales growth. She also followed up on the tariff issue, asking how quickly wipes production could be shifted and if the company would raise prices to offset tariff-related costs.

    Answer

    CFO David Loretta clarified that the significant gross margin expansion was almost entirely due to structural cost and supply chain savings, not pricing, as the 2023 price increases have been lapped. Regarding tariffs, Loretta stated that any impact would take time to materialize and is not expected to be material in 2025. He emphasized that the company is already working on sourcing flexibility and cost reductions as mitigation strategies, rather than committing to price increases.

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    Laura Champine's questions to Bumble (BMBL) leadership

    Laura Champine's questions to Bumble (BMBL) leadership • Q3 2024

    Question

    Laura Champine asked for clarification on the implied sequential decline in Q4 margins, questioning if it was driven by higher advertising spending.

    Answer

    CFO Anu Subramanian confirmed that the lower Q4 margin is due to higher marketing spend. She explained that this was a result of shifting some planned campaigns from Q3 to Q4 to better align with a product release, which caused Q3's margin to be higher than planned. She reiterated that the full-year guidance for at least 200 basis points of margin expansion remains unchanged.

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