The company opened 97 new stores in fiscal 2023 and plans to open approximately 90 new stores in 2024. This indicates a continued focus on expanding its brick-and-mortar presence.

Packaway merchandise, purchased with the intent to be stored and sold later, accounted for approximately 40% of total inventories as of February 3, 2024 and January 28, 2023. This strategy is a key part of the company's sourcing and merchandising approach.

Capital expenditures for fiscal 2024 are projected to be approximately $840 million, with a focus on supply chain investments, information technology systems, and store improvements. These investments are intended to support long-term growth.

Management believes that its merchandising and operational strategies enable the company to deliver competitive bargains, meeting customer demand for quality branded goods at compelling discounts. This is a key element of their business model.

Management is closely monitoring market share trends and believes that their share gains will continue to grow through a focus on value and convenience, despite ongoing macroeconomic and geopolitical uncertainties.

The company believes that consumers' increased focus on value and convenience, along with the significant number of brick-and-mortar retail closures, provides opportunities to gain market share.

The company acknowledges that inflation, supply chain disruptions, and other economic impacts from geopolitical conflicts and public health crises may negatively affect consumer confidence, shopping behavior, and spending, as well as increase costs.

The company expects competition to increase in the future due to limited economic barriers to entry in the off-price retail sector and the growth of e-commerce, which may reduce demand for the company's merchandise.

The company faces risks from cyberattacks and data breaches that could disrupt operations, result in theft or unauthorized disclosure of customer or business information, and create significant legal exposure.

The retail industry is highly competitive and fragmented, with many different retailers competing for market share through various store and online formats, and merchandising strategies. The company expects competition to increase in the future.

The company's off-price business model may allow greater flexibility in adjusting merchandise mix, but merchandising decisions may still fail to correctly anticipate and match consumer trends and preferences, especially in newer geographic markets.

The company's ability to meet operating performance targets depends on the continuous availability of high quality merchandise at prices sufficiently below those paid by conventional retailers. If vendors manage inventory better, this could reduce the amount of excess inventory available to the company.

The company aims to maintain low operating costs by utilizing a self-service retail format, labor-saving technologies, and economies of scale in centralized merchandising, marketing, and purchasing decisions.

The company utilizes a combination of owned, leased, and third-party facilities to distribute merchandise from distribution centers to stores on a regional basis, with shipments made three to six times per week depending on location.

The company uses flexible store layout criteria to facilitate the conversion of existing buildings into its store formats, which helps to reduce costs and time to open new stores.

The company is investing in enhancements to its stores, supply chain, merchandising, and cybersecurity systems to support future growth, execution of plans, ongoing stability, and compliance.

The company is shifting its marketing and advertising to digital channels, including social media, digital video, and digital audio, to reflect changes in media consumption and reach customers effectively.

The company relies on the integrity, continuous availability, and consistent operations of its information systems to process transactions, track inventory, manage merchandise allocation, generate reports, and support merchandising decisions.

In March 2024, the Board of Directors approved a new two-year program to repurchase up to $2.1 billion of common stock through fiscal 2025, indicating a continued commitment to returning value to shareholders.

The company paid dividends of $454.8 million in fiscal 2023, $431.3 million in fiscal 2022, and $405.1 million in fiscal 2021, reflecting a consistent policy of returning capital to shareholders.

Capital expenditures for fiscal 2024 are projected to be approximately $840 million, primarily for investments in the supply chain, new distribution centers, information technology, and new stores, indicating a focus on growth and infrastructure.

The Board of Directors has adopted a Code of Ethics for Senior Financial Officers that applies to the Chief Executive Officer, Chief Financial Officer, and Chief Accounting Officer, along with other senior executives, demonstrating a commitment to ethical conduct.

The company is committed to building diverse teams and an inclusive culture that respects, values, and celebrates the diversity of backgrounds, identities, and ideas of those who work and shop with them.

The company provides associates with opportunities to give back to their communities through programs such as matching gifts, volunteer time off, and a scholarship program, indicating a commitment to social impact.

The company acknowledges that it is subject to impacts from various external factors, including inflation, supply chain disruptions, and geopolitical conflicts, which can affect consumer confidence and spending.

The company operates in a challenging and rapidly changing macroeconomic and retail environment that creates intense competition from various retailers, including online and off-price retailers.

All of the company's stores are located in the United States and its territories, making it particularly vulnerable to changes in the U.S. economy.