Company: FCFS
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0000840489-25-000061
Chunk: 110

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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 of March 31, 20252024IncreaseU.S. Pawn Segment   Earning assets:Pawn loans$365,972 $315,792 16 %Inventories246,237 216,762 14 %$612,209 $532,554 15 %Average outstanding pawn loan amount (in ones)$289 $261 11 %Composition of pawn collateral:General merchandise27 %29 %Jewelry73 %71 % 100 %100 %Composition of inventories:General merchandise39 %41 %Jewelry61 %59 %100 %100 %Percentage of inventory aged greater than one year2 %1 %Inventory turns (trailing twelve months cost of merchandise sales divided by average inventories)2.8 times2.8 timesStore count1,197 1,179 2 %Weighted-average store count for the three months ended March 31,1,199 1,181 2 %

Retail Merchandise Sales Operations

U.S. retail merchandise sales increased 6% to $251.2 million during the first quarter of 2025 compared to $237.0 million for the first quarter of 2024. Same-store retail sales increased 2% in the first quarter of 2025 compared to the first quarter of 2024. The increase in total retail sales was primarily due to incremental sales contributions from acquired stores and an increase in same-store sales. The gross profit margin on retail merchandise sales in the U.S. was 42% during the first quarter of 2025 compared to 41% during the first quarter of 2024.

U.S. inventories increased 14% to $246.2 million at March 31, 2025 compared to $216.8 million at March 31, 2024. The increase was primarily due to incremental inventories from acquired stores and an increase in same-store inventories as a result of the higher pawn loan balances. Inventories aged greater than one year in the U.S. were 2% at March 31, 2025 compared to 1% at March 31, 2024.

Pawn Lending Operations

U.S. pawn loan receivables as of March 31, 2025 increased 16% in total and 13% on a same-store basis compared to March 31, 2024. The Company believes the increase in same-store pawn