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    Paul Joseph Nawalany

    Research Analyst at Piper Sandler

    Paul Joseph Nawalany is a Research Analyst at Piper Sandler & Co., specializing in equity research across select consumer and internet companies. Covering industry names such as Etsy, Nawalany provides actionable investment insights, and has participated in major earnings calls to deliver relevant analyst commentary. He began his career at Wedbush Securities as a Vice President before moving to Piper Sandler, where he is now based in New York. Nawalany holds FINRA registration as a registered representative and is licensed to offer securities through his current firm.

    Paul Joseph Nawalany's questions to Warby Parker (WRBY) leadership

    Paul Joseph Nawalany's questions to Warby Parker (WRBY) leadership • Q1 2025

    Question

    Paul Joseph Nawalany, on for Anna Andreeva, inquired about the behavior of new customer cohorts amid accelerating active customer growth and whether this growth stemmed from new or existing markets. He also asked for confirmation of sales trends from February through April and if there was any sign of demand pull-forward.

    Answer

    Co-CEO Neil Blumenthal stated that consumer behavior is consistent across new and existing cohorts and that most new stores are opened in existing markets where they can take share from higher-priced competitors. CFO Steve Miller confirmed that March was the strongest month in Q1 and that after some variability, April finished with a strong exit rate that continued into May. He did not comment on any demand pull-forward.

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