| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | September 2, 2026 | 8/12 | 2 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q1'26 | June 3, 2026 | 7/12 | 2 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q4'25 | March 18, 2026 | 9/12 | 3 medium, 3 low flags | 5 | 1 | Call sheet → |
| Q3'25 | December 3, 2025 | 8/12 | 1 high, 4 medium, 3 low flags | 6 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | Squishy Dumpling event characterized as not designed to be a meaningful catalyst to the Q2 comp profile Management confirmed this quarter that squishy dumplings were a 'low single-digit contributor to our comp growth,' consistent with the prior caution. |
| Q2'26 | Exceeded | Q2 FY26 approximately 50 net new store openings Actual net new store openings were 52, modestly above plan. |
| Q2'26 | Exceeded | Q2 FY26 adjusted net income guide of $68M at the midpoint, adjusted EPS of $1.23 Actual adjusted net income was $93M with EPS of $1.68, well above guidance. |
| Q2'26 | Exceeded | Q2 FY26 adjusted operating margin guide of 7% Actual adjusted operating margin was 9%, 200bps above the guided midpoint. |
| Q2'26 | Exceeded | Q2 FY26 sales guide of $1.18-1.2B, comp growth of 7-9% Actual Q2 sales came in at $1.3B with 14% comp growth, well above the top end of guidance. |
| Q1'26 | Delivered | Diversify vendor base due to tariff impacts Management cited vendor diversification success and improved negotiating position |
| Q1'26 | Delivered | Continued investment in store labor during peak periods Maintained labor investment strategy, cited as driver of in-stock positions |
| Q1'26 | Delivered | Focus on quality locations over quantity for new stores New store productivity described as 'outsized,' opened 8 record-breaking stores in Pacific Northwest |
| Q1'26 | Exceeded | Comp growth of 3-5% for fiscal 2026 Q1 came in at 23%, raising full year to 6-8% |
| Q1'26 | Exceeded | Operating margin expansion of 100 bps to 10.9% Already at 12% in Q1, ahead of full-year target |
| Q1'26 | Pending | 150 net new stores for fiscal 2026 On track with 49 stores in Q1, guidance maintained |
| Q4'25 | Delivered | Shrink mitigation efforts showing results 50bps improvement from inventory counts, first quantified benefit they've disclosed |
| Q4'25 | Delivered | Marketing effectiveness driving traffic growth Traffic growth continued, contributed to 15.4% comps alongside ticket growth |
| Q4'25 | Exceeded | New store productivity in line with expectations Mid-80s productivity vs historical mid-70s, Pacific Northwest records validate site selection |
| Q4'25 | Exceeded | Strong holiday performance expected Called it 'strongest holiday performance since becoming public company' - clear beat |
| Q4'25 | Delivered | Tariff impacts largely mitigated at unit level They maintained pricing but took 160bps gross margin hit, so 'largely' was accurate framing |
| Q4'25 | Missed | Inventory growth per store would moderate by end of fiscal year Still up 9% per store in Q4 vs their expectation of moderation - they're less confident in demand predictability |
| Q3'25 | Delivered | Continue pricing simplification strategy Majority of items now at whole price points as planned |
| Q3'25 | Delivered | Better inventory flow and improved in-stock positions Management confirmed better inventory flow supported sales beat |
| Q3'25 | Exceeded | August physical inventory counts to show shrink initiative benefits Delivered 70bps shrink benefit vs no specific promise |
| Q3'25 | Delivered | Approximately 50 net new stores in Q3 Opened 49 net new stores, essentially in line |
| Q3'25 | Exceeded | 160 basis points unmitigated tariff impact in Q3 Impact was better than expected due to improved price elasticity |
| Q3'25 | Exceeded | Q3 comp guidance of 5-7% Delivered 14.3% comp, beating by 730bps at midpoint |
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