So off price and resale, can you describe the distinction and explain the difference between the two?

So Off Price originally got started because wholesalers or retailers had excess inventory that they couldn't move.

So Off Pricers came and negotiated at values that were much lower than markdowns or sale prices and came in with cash to help these people out of inventory and were able to turn it around really quickly for the customer at really great values.

now back then it really didn't matter what the atmosphere of the store was it just mattered that you were selling great product at great prices you could buy sweaters in the summer you could buy bathing suits in the winter it didn't matter because that customer was very very focused on just getting a deal and it was like a treasure hunt you found something different every time you walked into the store so off price continues to be that Although the stores that are winning are still creating a great atmosphere with great visual merchandising, storytelling, and making sure that they explain to the customer what strategies that they're standing for and what product and brands that they're standing for.

So I do believe off price is kind of pivoting to a mixture of what, you know, department store retail or specialty store retail used to be, which is a customer service experience in a great environment.

still selling great values and great at great prices and great brands now resale is something completely different because you're getting the inventory from your local community or its donations it's inventory from people's closets what they don't what they bought and they really don't want it anymore.

So they actually can sell to a resale model and sell it for a price and take home cash.

What feels most different about moving from corporate retail to store level ownership?