Net Sales

Declined 3.5% (from $4.298B to $4.149B)

Net Sales decreased slightly, likely reflecting external pressures such as weaker consumer demand or competitive pricing challenges compared to Q4 2024; this decline comes despite some operational tunings seen in prior periods. " "

Operating Income

Increased 21% (from $214M to $259M)

Operating Income improved significantly as the increase from $214M to $259M suggests enhanced cost control and better product mix management. The resulting operating margin improved from about 5.0% to 6.3%, indicating that previous period inefficiencies were addressed and strategic initiatives paid off. " "

Net Income

Increased 11% (from $185M to $206M)

Net Income rose by $21M (11% improvement) driven by higher operating income and tighter expense management. While operating results improved notably, net income increased at a more moderate pace, hinting at possible increases in non-operating expenses or other adjustments compared to previous quarters. " "

Operating Cash Flow

Declined 12% (from $700M to $616M)

Operating Cash Flow fell despite better profitability, suggesting that working capital changes (such as increased inventory levels or higher receivables) or less favorable non-cash adjustments impacted the cash generation in Q4 2025 relative to Q4 2024. " "

Total Assets

Increased (from $11.044B to $11.885B)

Total Assets grew as the balance sheet strengthened, likely due to increased cash and current asset balances (including merchandise inventory) which reflect strategic liquidity management and potential investment in growth for the upcoming periods compared to prior quarters. " "

Stockholders’ Equity

Increased 26% (from $2.595B to $3.264B)

Stockholders’ Equity saw robust growth driven by improved earnings retention, with net income gains bolstering retained earnings along with contributions from share-based compensation and common stock issuance, reinforcing a markedly stronger balance sheet than in Q4 2024. " "