What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-03-31 compared with 2024-03-27 · 48 added, 70 removed, 297 unchanged (28% of the section changed)

18 unchanged sentences

Retail and Credit.

approximately

originated as a family-owned business and

made its first initial public offering

of stock in 1968.

the Company went private and in 1987 again conducted an initial public

Company originated

family-owned business and

first initial

public offering

went private and in 1987 again conducted an initial public offering.

Business Strategy

107 unchanged sentences

these vendors

sourcing operations in the fall of 2014, replacing the Company’s former sourcing agent in 2015.

Asia, the Company does

not expect that any

economic, political, public health or

social unrest in any

merchandise supply

not materially

and adversely

Risks Relating to Our Business – Because we source a significant portion of our merchandise directly and

indirectly from overseas,

subject to risks

associated with changes,

disruptions, increased costs

other problems

affecting the

merchandise supply

conducting international

adversely affect the Company’s business, results of operations and financial condition.”

adverse effect

adversely affect the

See “Risk Factors –

Risks Relating to Our

Business – Because we

uncertainties

threatened tariffs,

of conducting

international operations

the prevailing

social, economic,

political, public

other conditions

Company’s business, results of operations and financial condition.”

Point-of-sale

23 unchanged sentences

Store Operations

The Company’s

store operations

management team

four territorial

managers and 104 district managers.

Regional managers receive

a salary plus a bonus based

targeted goals

managers receive

achieving targeted

District managers

objectives for

district sales

are typically

two assistant

personnel needs.

store managers

annual bonuses based on achieving targeted goals for their respective store’s sales increases.

achieving targeted

objectives for district

sales increases.

are typically staffed

and semi-annual bonuses based on achieving targeted goals for their respective

store’s sales increases.

Store Locations

23 unchanged sentences

2024………….………...….……...…….

The Company periodically

reviews its store

base to determine

whether any particular

store should be

The Company periodically reviews its store base to determine whether any particular store should be

closed based on its sales

7 unchanged sentences

retail sales in

fiscal 2023, 2022 and 2021, respectively.

The Company’s net bad debt expense was 3.6%, 2.0% and 3.0%

of credit sales in fiscal 2023, 2022 and 2021, respectively.

2022, respectively.

The Company’s

3.6% and 2.0% of credit sales in fiscal 2024, 2023 and 2022, respectively.

Customers applying for the Company’s credit card are approved for credit if

they have a satisfactory

Customers are required

to make minimum

monthly payments based

on their account

payments are not received on time, the customer is assessed a late

fee subject to regulatory limits.

minimum payment.

Customers are required to make

minimum monthly payments based on

their account

customer points based on their purchases of

2 unchanged sentences

$5.00 rewards card is earned for every

The fiscal 2023 loyalty program impact is immaterial to the fiscal 2023 financial statements.

Customers (Topic 606)

20 unchanged sentences

effectiveness

purchasing and

which reflect

8 unchanged sentences

for a particular item.

Sales information

by merchandise

category and,

further projected

Sales information is

projected by merchandise

category and, in

some cases, is

further projected and

performance measured

customer demographics and targeted inventory turnover rates.

retail apparel

retail apparel industry is

highly competitive.

believes that

the principal

The Company believes

that the principal

competitive factors

21 unchanged sentences

experience seasonal fluctuations in its

revenues, operating income and net

revenues, operating income and

typically generate a

3 unchanged sentences

second quarters of

our fiscal year compared to

other quarters.

our fiscal year compared

to other quarters.

period shorter than a

38 unchanged sentences

Plan, Employee

promote diversity,

opportunities

Company constantly

management are promoted from

within, allowing the

Company to internally

environment where all associates can develop and flourish, to provide opportunities for advancement, and

including measures to promote the health and safety of its associates.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business