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Assets by Segment
Shows where assets are concentrated—manufacturing plants, showroom inventory, and receivables—highlighting capital intensity and balance-sheet exposure. Large inventory or underused facilities can tie up cash and increase risk, while efficient asset use supports profitability.Wholesale assets rose into 2022–mid‑2024 then trended down through 2025, consistent with weaker wholesaler orders and a reduced backlog—indicative of inventory and receivable drawdown as contract volumes fell. Retail assets stayed relatively stable, suggesting tighter inventory/working‑capital discipline and higher average tickets offsetting traffic declines. Eliminations fluctuated but normalized. Coupled with stronger gross margins, a cash-rich, debt‑free balance sheet and active price/vendor mitigation, the asset pullback reads as margin-protective normalization rather than balance‑sheet stress, though sustained demand recovery (government contracts) is the main upside trigger.
Date | Eliminations | Wholesale | Retail |
|---|---|---|---|
Mar 31, 2026 | -$27.36M | $364.81M | $385.81M |
Dec 31, 2025 | -$26.66M | $358.44M | $382.99M |
Sep 30, 2025 | -$31.38M | $370.47M | $398.01M |
Jun 30, 2025 | -$31.95M | $375.13M | $393.92M |
Mar 31, 2025 | -$31.15M | $371.07M | $398.82M |
Dec 31, 2024 | -$26.78M | $376.46M | $382.89M |
Sep 30, 2024 | -$29.00M | $381.32M | $385.38M |
Jun 30, 2024 | -$27.02M | $379.69M | $392.24M |
Mar 31, 2024 | -$26.84M | $371.26M | $397.79M |
Dec 31, 2023 | -$28.53M | $358.40M | $392.31M |