Discount Retailers

credit / rates affecting interest expense

“Fiscal 2024 Interest expense, net $ 85.5 $ 107.5 $ 112.5 (20.5) % Fiscal 2025 compared to Fiscal 2024 Interest expense, net decreased $22.0 million in fiscal 2025 compared to the prior year, primarily due to the repayment of our $1.0 billion principal amount of 4.00% Senior Notes in the second quarter of fiscal 2025, and higher interest income on investments, partially offset by higher borrowings of commercial paper.”

DLTR 10-K

restructuring affecting expense

“Fiscal 2024 Selling, general and administrative expenses $ 5,468.6 $ 4,832.4 $ 4,245.2 13.2 % Selling, general and administrative expense rate 28.2 % 27.5 % 25.3 % 0.7 % Fiscal 2025 compared to Fiscal 2024 The selling, general and administrative expense rate increased 70 basis points in fiscal 2025 primarily due to higher store payroll in support of our pricing initiatives and from wage increases, higher incentive compensation, higher depreciation expense from store investments, and unfavorable development of general liability claims, partially offset by lower stock compensation, lower impairment costs, lower corporate payroll, and leverage from the comparable store net sales increase.”

DLTR 10-K

demand / volume affecting revenue

“The $95 million decrease in fiscal 2024 was due to a better alignment of product levels with customer demand as well as less turkey and associated feed supplies. – In fiscal 2025, accounts receivable decreased $33 million due to the timing of sales and estimated impact from the chicken product recall.”

HRL 10-K