Words from Director/CEO Tom Shull: Holiday Sales Season Starts Strong
By Tom Shull
Congratulations! Thanks to your hard work, the Exchange’s fourth quarter is off to an exceptional start.
Veterans Day sales produced fantastic results.
The final numbers are pending audit, but the preliminary results are up 1.3% (as compared to 2018).
Sales at ShopMyExchange.com increased more than 27% over last year!
This is a truly remarkable achievement and a testament to the cooperation and dedication of our e-commerce and field teams working together (buy online, pick up in store and ship from store) to provide an exceptional, highly responsive customer experience.
While our brick-and-mortar main store sales followed broader industry trends (down 6% vs. prior year), we have time to bring shoppers onto the installation in the weeks ahead. We are going into Black Friday with momentum on our side.
Together, we can make the next month one for the record books!
For the fiscal year, the Exchange’s financial performance remains strong. Through the third quarter, earnings are $300 million—13% above plan. As earnings grow, the Exchange is also reducing expenses, about 4% below plan.
At a time when the retail industry is facing constant challenges, please know that these results speak volumes about your all-in passion for serving those who serve.
Around the globe, Exchange associates make a difference in the lives of Soldiers, Airmen, retirees, Veterans and military families. Whether in a store, food court, distribution center or at headquarters, you make the Exchange the best place to shop for the best customers in the world.
Many in the military community spend their holidays away from their families and loved ones. Thank you for your service to our heroes far from home.
Please know that you truly make the season a little brighter for them. You are the reason the Exchange is where heroes shop.
Let’s finish the year Exchange strong!