Letter from the General Manager

Greetings Everyone,

Here we are halfway through the year. We’re ready for the summer! We can all agree that the heat will keep people indoors. We want to remind everyone about tools in our tool kit that we seldom use like our call-back binders. We used these tools to attract a returning client when we searched for wanted items that our client(s) are looking for. This is still a valued tool that we often use to continue to build our client/ business relationships.

The top salesman for June was Dominic T. in the first place. The 2nd place goes to Paul M. and 3rd place goes to Mark X. Great job team! Florin remains a large target for the rest of the stores. Last month Florin sold over 72k and the 2nd place store was El Camino who. I’m pretty sure that Florin will have it’s work in for them to maintain first place for July!

An update and observation for the 2nd quarter of 2023 was we have grown our loan balance of 378k. This is both great news and a little alarming. While we are happy that this is organic growth, we’re a little concerned about the economic health that is driving this growth. We know that loan growth has a natural cycle within the business. For quarter 2, 378k is aggressive. We are continuing the loan growth and expect to do so this summer. While we grow, it remains important to focus on our sales and the layaway program. Each store is balancing less than 100k in layaways, currently. We continue to have a decent amount of inventory so don’t be afraid to advertise the layaway program.

Sincerely,

Wayne Silliman General Manager

“Obstacles are those frightful things you see when you take your eyes off your goals.” -Henry Ford