Specifically, the lack of available inventory, which impacted us last quarter, has proved to be a continuing impediment.ĭespite our overall inventory levels, product not available for sale or held at ports indices remain at above normal highs. The core issues remain embedded in pervasive supply chain challenges, which led to fourth quarter comparable sales of minus 12%, and adjusted gross margins of 28.8%. There have been operational deficits in our near-term execution, and as we enter fiscal 2022, we are focused on stabilizing our business while navigating the headwinds that still persist. Internally, these factors have exposed more short-term to medium-term vulnerabilities that we did not see at this stage of our transformation as we completely rebuild the foundation of our business. Our business has been impacted by extraordinary macroeconomic factors, such as the derailing of the global supply chain, continued disruptions from the Omicron variant, unprecedented inflation, rising interest rates, and a turbulent geopolitical landscape which have also weighed on consumer confidence. Sales and gross margin during the fourth quarter did not reflect our team's hard work and execution against our long-term transformational efforts. As we close the first year of our comprehensive transformation, we're disappointed that our near-term results demonstrated a dislocation between our short-term operations versus our long-term strategy. Thank you, Susie, and good morning, everyone. ![]() The company undertakes no obligation to update or revise any forward-looking statements. Please refer to our most recent periodic SEC filings for more detail on these risks and uncertainties, including the Risk Factors section in our annual report on Form 10-K and our quarterly reports on Form 10-Q. All such statements are subject to risks and uncertainties that could cause actual results to differ materially from what we say during the call today. This conference call on the slides we refer to may contain forward-looking statements, including statements about or references to our outlook regarding the company's performance, our internal models, and our long-term objectives. Before I begin, let me remind you that our fiscal 2021 fourth quarter earnings release and slide presentation can be found in the Investor Relations section of our website at and as exhibits to our related Form 8-K. Joining us today are Mark Tritton, our president and CEO and Gustavo Arnal, our chief financial officer. Welcome to our fiscal 2021 fourth quarter earnings call. If you choose to run your business under a business name, instead of under your own name, there are extra steps to go through in order to assure you don’t infringe on any other company’s trademarked name.Thank you, and good morning, everyone. If you are not already a business owner you will want to register as a small business to enjoy the tax breaks associated with being a home or small business owner. Before signing anything, read the company’s contract thoroughly to make sure what you’ve been promised verbally is also in the language of your binding contract. The bath and body company you decide to distribute for should have the products you like the most, offer you fair compensation for your sales and provide you with the most marketing support. Choosing a CompanyĬhoose the best company to meet your needs. Checking with the Better Business Bureau and looking for complaints on the Internet can help you uncover potential problems with a company before you sign on the dotted line. Research beyond what the company literature offers. Asking for a small sample from the company, in order to test the quality of the products, is always a good idea. The sales representative will likely have a package of company literature she can send out to you explaining the opportunity further. You will get a much better feel for the person and company if you speak with them over the phone instead of emailing.Īsk for samples and literature from the company. Ask them to call you so you can speak in person. This could be through a listing or the representative’s website. ![]() If you wish to sell your products on the Internet, you will want to know whether you will be allowed to build your business online.Ĭontact a sales representative from each company. Don’t forget to include questions such as how many other distributors the company has, which will give you an idea of your sales competition. ![]() You need to know as much about the companies you’re considering as possible to make an informed decision. List some questions you have about each company that interests you.
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