Q4 & FY23 Investor Presentation

TOTAL RETAIL SALES IN USA Annual Retail Sales and Sales Growth Source: nrf.com 7.6% 14.4% INDO COUNT Complete Comfort 7.0% NRF Forecast 4%-6% 4.1% 4.3% 3.3% 3.5% 3.5% 2.9% 2.9% $ 3.03T $3.15T $ 3. 26T $3.35T $3.47T $3.62T $ 3.75T $ 4.03T $ 4.61T $ 4.94T $ 5.13T- $5.23T 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 4% and 6% in 2023 In total, NRF projects that retail sales will reach between $5.13 trillion and $5.23 trillion this year Aggregate economic activity has held up well, despite restrictive monetary policy that is working purposefully to curb inflation While it is still too early to know the full effects of the banking industry turmoil, consumer spending is looking quite good for the first Quarter of 2023 "In just the last three years, the retail industry has experienced growth that would normally take almost a decade by pre-pandemic standards .While we expect growth to moderate in the year ahead, it will remain positive as retail sales stabilize to more historical levels. Retailers are prepared to serve consumers in the current economic environment by offering a range of products at affordable prices with great shopping experiences." - NRF President and CEO Matthew Shay 18

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