Competition And SalesAnalyst reiterates an Underperform rating given the lack of certainty on rebuilding sales amidst intensifying competition and credit pressures.
Financial PerformanceSame-store-sales declined, which was slightly below the consensus estimate, and the company's guidance for FY24 includes the potential impact from credit card late fee regulatory changes.
Regulatory ImpactManagement expects Other revenue to be down mid-teens in F24, contemplative of rising delinquencies and potential impacts from the recent CFPB late fee ruling.