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    Randal Konik • Jefferies

    Randal Konik's questions to Birkenstock Holding PLC (BIRK) leadership

    Randal Konik's questions to Birkenstock Holding PLC (BIRK) leadership • Q3 2025

    Question

    Randal Konik from Jefferies & Company Inc. asked for the outlook on B2B versus DTC growth leadership into the next fiscal year and requested more detail on closed-toe category performance beyond the popular Boston style.

    Answer

    CFO Ivica Krolo reiterated that the trend towards in-person shopping is driving B2B strength but did not provide specific guidance for FY2026. He highlighted that the closed-toe category's share increased by 400 basis points and that non-Boston closed-toe styles are growing at the same rate as the Boston, indicating broad strength in the category.

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    Randal Konik's questions to Birkenstock Holding PLC (BIRK) leadership • Q1 2025

    Question

    Randal Konik from Jefferies requested details on shelf-space gains with wholesale partners in 2024 and 2025, the expected split between pricing and unit growth, and an update on the strategic build-out of the APAC business.

    Answer

    President Americas David Kahan confirmed that over 90% of wholesale growth comes from existing doors, driven by strong sell-through and expansion beyond sandals into closed-toe shoes. VP, Global Finance Alexander Hoff reiterated the outlook for 2/3 unit growth and 1/3 ASP growth. CSO Klaus Baumann noted the APAC expansion uses a mixed model of partner-run mono-brand stores and owned D2C stores, with a focus on premium execution and brand building.

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    Randal Konik's questions to Birkenstock Holding PLC (BIRK) leadership • Q4 2024

    Question

    Randal Konik sought more detail on the drivers within the closed-toe category, its potential to reach 40-50% of the mix, the ASP difference versus sandals, and clarification on the B2B versus B2C growth outlook.

    Answer

    David Kahan, President of the Americas, explained that closed-toe growth is broad, driven by various clog styles in the U.S. and boots in Europe, all with higher ASPs than sandals. Regarding channel growth, management reiterated a 'balanced' growth plan. Megan Kulick added that with B2C at 40% of the business, growth will come from both channels, with new retail stores contributing more to B2C in the second half of the year.

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    Randal Konik's questions to Yeti Holdings Inc (YETI) leadership

    Randal Konik's questions to Yeti Holdings Inc (YETI) leadership • Q2 2025

    Question

    Randal Konik of Jefferies & Company Inc. requested more detail on the 'sell-through outpacing sell-in' dynamic, a qualitative outlook on long-term gross margins, and how the innovation process has evolved since the IPO.

    Answer

    CFO Mike McMullen explained that in the U.S., the trend indicates healthy channel inventory, while internationally it reflects strong consumer demand despite cautious wholesale ordering. On margins, he noted tariff uncertainty but highlighted opportunities from cost efficiencies and a favorable sales mix. CEO Matt Reintjes detailed the innovation evolution from one general team at IPO to three focused teams today, supported by a new Thailand innovation center and a sophisticated global supply chain.

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    Randal Konik's questions to Yeti Holdings Inc (YETI) leadership • Q1 2025

    Question

    Randal Konik inquired about the cadence of new product introductions for 2025 versus 2024, consumer response to new items, and the specific portion of the $100 million tariff impact attributable to China.

    Answer

    Executive Matthew Reintjes confirmed over 30 new products for 2025, up from 24 in the prior year, and expects this accelerated cadence to continue into 2026, driven by innovation in hard coolers and bags. CFO Michael McMullen clarified that the tariff impact begins in Q2, and approximately 90% of the projected $100 million impact is specific to China.

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    Randal Konik's questions to Yeti Holdings Inc (YETI) leadership • Q4 2024

    Question

    Randal Konik requested perspective on the pace of innovation over the next one to two years, the current scale of the Bags category, and the key drivers behind the mid-teens international growth forecast for 2025, including specific country opportunities.

    Answer

    President & CEO Matthew Reintjes indicated the innovation pace would remain consistent with the accelerated tempo of 2024, highlighting upcoming launches in bags, chairs, and coolers. While not sizing the Bags business, he noted its strong growth. EVP & CFO Michael McMullen identified Europe as the fastest-growing international region. Reintjes added color on the significant, early-stage opportunities in the UK, Europe, and the new market entry into Japan.

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    Randal Konik's questions to Yeti Holdings Inc (YETI) leadership • Q3 2024

    Question

    Randal Konik asked for an update on the status of YETI's international infrastructure, particularly in Europe and Asia, and inquired about the company's future product evolution and innovation strategy.

    Answer

    CEO Matt Reintjes detailed that Canada and Australia are in 'scale mode,' while Europe is built out but still has investment ahead, with Asia being in the earliest stages. On product, he emphasized a thoughtful, connected ecosystem approach, highlighting the massive global opportunity in premium bags, packs, and luggage as a key future growth area.

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    Randal Konik's questions to Sharkninja Inc (SN) leadership

    Randal Konik's questions to Sharkninja Inc (SN) leadership • Q2 2025

    Question

    Randal Konik from Jefferies & Company Inc. asked for details on recent key executive hires and the new capabilities they bring, and followed up on the F1 movie sponsorship, questioning how it might influence future marketing and co-branding strategies for the Shark and Ninja brands.

    Answer

    CEO Mark Barrocas explained that the recent talent acquisition addresses the company's growing scale and complexity, enhancing capabilities in software/electronics, the innovation pipeline, and global growth operations. Regarding marketing, he described the F1 partnership as a success and noted the next step in brand evolution is the launch of a unified SharkNinja.com website in Q4 to improve cross-selling and consumer loyalty. CFO Patraic Reagan added that the unified site will create a more streamlined consumer experience.

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    Randal Konik's questions to Sharkninja Inc (SN) leadership • Q1 2025

    Question

    Randal Konik asked about the drivers behind the accelerated consumer discovery of new products and for more detail on European shelf space expansion.

    Answer

    CEO Mark Adam Barrocas explained that new product discovery is accelerated by a large existing customer email list and pre-launch seeding with influencers, which creates significant day-one demand. Regarding Europe, he noted that strengthening CEO-level relationships with major retailers in Germany, France, and the Nordics has led to increased shelf space commitments for the upcoming holiday season, supported by recent strategic talent acquisitions to scale the business globally.

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    Randal Konik's questions to Sharkninja Inc (SN) leadership • Q4 2024

    Question

    Randal Konik inquired about the long-term strategy for the direct-to-consumer (D2C) channel, its growing importance as seen with the CryoGlow launch, and any plans to enhance the D2C website and overall experience.

    Answer

    CEO Mark Adam Barrocas stated that D2C is expected to continue growing faster than the overall business. While maintaining a balanced omnichannel strategy, SharkNinja uses D2C for initial product launches to control distribution and gather immediate consumer feedback, as exemplified by the Ninja Swirl launch which had a 90,000-person waitlist. He highlighted plans to make D2C a unique destination with exclusive products and a major platform upgrade to Salesforce in Q3 2025 to enhance the customer experience.

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    Randal Konik's questions to Sharkninja Inc (SN) leadership • Q3 2024

    Question

    Randal Konik inquired about the evolution of channel partnerships with key retailers like Walmart, Costco, and Amazon, and requested an update on distribution progress within the beauty, grocery, and sporting goods channels.

    Answer

    CEO Mark Barrocas confirmed that strong innovation is driving increased shelf space and placement with major retail partners. He noted that for new channels, beauty products will see expanded placement in retailers like Ulta and Sephora in 2025, the Ninja SLUSHi is opening doors in grocery, and the company is positioned for a stronger 2025 in sporting goods after missing the main season with its cooler products this year.

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    Randal Konik's questions to Planet Fitness Inc (PLNT) leadership

    Randal Konik's questions to Planet Fitness Inc (PLNT) leadership • Q2 2025

    Question

    Randal Konik asked about the percentage of clubs featuring the new layout with more strength equipment and inquired about performance differences in those clubs regarding membership, Black Card penetration, and attrition. He also requested an update on new Black Card amenities like red light therapy and cold plunge.

    Answer

    CEO Colleen Keating reported that by the end of the year, over 70% of clubs will have an optimized floor plan with a balanced 50/50 mix of cardio and strength equipment. She added that new Black Card amenities, including red light therapy and spray tanning, are currently in the pilot phase, and it is too early to determine which will be rolled out widely.

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    Randal Konik's questions to Planet Fitness Inc (PLNT) leadership • Q1 2025

    Question

    Randal Konik asked for an update on international development beyond Spain and how to think about that part of the model going forward. He also re-asked about the Black Card pricing strategy, its cadence, and the dynamic of the classic card price increase encouraging Black Card sign-ups.

    Answer

    CEO Colleen Keating reported that clubs in Spain are performing very well, with ramps equal to or better than domestic clubs, and that the brand is also resonating strongly in Australia. She reiterated that a decision on Black Card pricing will wait until after the classic card price increase anniversary. She confirmed the narrowed price gap has driven favorable Black Card penetration and that the company has historically taken price on the Black Card more frequently, a practice that will likely continue periodically.

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    Randal Konik's questions to Planet Fitness Inc (PLNT) leadership • Q4 2024

    Question

    Randal Konik asked for long-term perspective on international unit growth, particularly in Europe following the entry into Spain, and questioned the current appetite of U.S. franchisees to accelerate new club builds.

    Answer

    CEO Colleen Keating stated that the company is pleased with its five clubs in Spain and will take a thoughtful approach to international expansion, aiming for one to two new markets a year while transitioning Spain to a franchise model. Domestically, she noted that while significant progress has been made on improving franchisee IRRs through cost reductions and the price hike, the company will never stop seeking enhancements. She reiterated the goal of returning to 200 annual openings in a 'few years'.

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    Randal Konik's questions to Planet Fitness Inc (PLNT) leadership • Q3 2024

    Question

    Randal Konik asked if the company had considered raising the Classic Card price to $15 for all existing members, not just new ones. He also sought more detail on international strategy, asking why specific markets like Mexico, Spain, and Australia were chosen and which might be prioritized for faster growth.

    Answer

    CFO Tom Fitzgerald stated that the company's policy is to not raise prices on existing loyal members, as their strategy is focused on volume growth. On international expansion, he explained the model translates well due to its simplicity and value, often bringing new consumers into fitness. He identified Mexico, Canada, Australia, and Spain as key markets with significant potential but did not single one out for accelerated growth over others.

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    Randal Konik's questions to Savers Value Village Inc (SVV) leadership

    Randal Konik's questions to Savers Value Village Inc (SVV) leadership • Q2 2025

    Question

    Randal Konik asked about increased business visibility, drivers of transaction and basket growth, potential for AUR lifts, and the real estate outlook.

    Answer

    CEO Mark Walsh noted that significant price gaps provide optionality and that recent strategic investments reflect improved visibility. CFO Michael Maher guided for second-half margins to be closer to last year. COO Jubran Tanious expressed confidence in the new store pipeline, citing strong landlord appetite for the thrift concept.

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    Randal Konik's questions to Savers Value Village Inc (SVV) leadership • Q1 2025

    Question

    Randal Konik of Jefferies asked for more detail on the drivers of U.S. strength, including customer behavior and transaction trends, and for clarity on the Canadian market's outlook. He also inquired about specific continuous improvement initiatives.

    Answer

    Executive Mark Walsh stated that in Canada, strong execution and a modestly better economic environment led to a positive comp, but the company remains cautious. For the U.S., he confirmed solid trends in basket size and transactions continued into Q2. Executive Jubran Tanious highlighted automated book processing (ABP) and various tactical improvements in Central Processing Centers (CPCs) as key continuous improvement efforts.

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    Randal Konik's questions to Savers Value Village Inc (SVV) leadership • Q3 2024

    Question

    Randal Konik asked for clarification on the percentage of donations from on-site and GreenDrop sources and for a summary of the actions being taken to mitigate macroeconomic challenges in Canada.

    Answer

    CFO Michael Maher and Executive Jubran Tanious clarified that on-site and GreenDrop donations combined accounted for just under 80% of supply, up from 78% the prior year, with on-site donation comps remaining positive. Executive Mark Walsh recapped the strategy for Canada, highlighting the five promotional and pricing tests conducted. The most promising was strategic price reductions by category, leading to an investment in new pricing tools that will be rolled out across North America in early 2025.

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    Randal Konik's questions to Mister Car Wash Inc (MCW) leadership

    Randal Konik's questions to Mister Car Wash Inc (MCW) leadership • Q1 2025

    Question

    Randal Konik asked about the drivers behind the sequential acceleration in Unlimited Wash Club (UWC) member growth and sought clarification on the scope of the base membership price increase and the long-term penetration potential for the Titanium tier.

    Answer

    CEO John Lai attributed the 5% UWC member growth directly to a corresponding 5% increase in retail traffic, as member conversion rates held steady. Lai confirmed the base price increase was rolled out in most markets and would be fully implemented by June. He added that the company is pleased with the stable 23% Titanium mix, which has not been negatively impacted by the base price increase in affected markets.

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    Randal Konik's questions to Nike Inc (NKE) leadership

    Randal Konik's questions to Nike Inc (NKE) leadership • Q3 2025

    Question

    Randal Konik requested a progress report on the implementation of NIKE's new strategies across its geographies, asking where the company is furthest along and where it has the most work to do, with a particular focus on China.

    Answer

    President and CEO Elliott Hill stated that the 'Win Now' strategy is being applied globally, with North America, APLA, and EMEA making good progress. Regarding China, he acknowledged that competition has become more aggressive but reaffirmed commitment to the market's long-term potential. CFO Matt Friend added that NIKE took aggressive actions in China during Q3, including marketplace returns and rebates, to clean up inventory and that executing the full turnaround will take time.

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    Randal Konik's questions to Nike Inc (NKE) leadership • Q3 2025

    Question

    Randal Konik requested a progress report on the implementation of NIKE's new strategies across its different geographies, asking where the company is furthest along versus furthest behind.

    Answer

    CEO Elliott Hill indicated that North America, EMEA, and APLA are making good progress, with newness in performance and sportswear nearly offsetting declines in classic franchises in futures orders. He noted that China presents a greater challenge due to more aggressive competition. CFO Matt Friend added that the company took aggressive cleanup actions in China this quarter (returns, rebates), and it will take more time to reset that market and see momentum improve.

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    Randal Konik's questions to Revolve Group Inc (RVLV) leadership

    Randal Konik's questions to Revolve Group Inc (RVLV) leadership • Q4 2024

    Question

    Randal Konik inquired about the outlook for gross margin, specifically the drivers behind increasing full-price sales and the margin potential for the FWRD segment. He also asked for details on international logistics costs and margins relative to the domestic business.

    Answer

    CFO Jesse Timmermans stated that the company sees continued opportunity for full-price sales growth driven by expanding styles and strong merchandising. For the FWRD segment, he noted inventory is in a good position for margin improvement. Regarding international operations, Timmermans explained that while shipping costs are higher, this is offset by a lower return rate, making the contribution margin comparable to the domestic business.

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    Randal Konik's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership

    Randal Konik's questions to Ollie's Bargain Outlet Holdings Inc (OLLI) leadership • Q1 2025

    Question

    Randal Konik from Jefferies & Company, Inc. asked for quantification of the drag from seasonal categories on the Q1 comp and whether the ability to get better pricing on deals is a structural trend that could lift gross margins above 40% long-term.

    Answer

    CFO Robert Helm estimated that weather and seasonal weakness combined were a headwind of about 150 basis points in Q1. CEO Eric van der Valk confirmed that Ollie's growing scale and direct relationships create a structural pricing advantage, but stated the current focus is on using that power to invest in price and drive market share, rather than pushing margins above the 40% target.

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