Company: FCFS
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000840489-25-000120
Chunk: 154

Company: FirstCash Holdings, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 154
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 2024. Same-store retail sales increased 11% (10% on a constant currency basis) during the third quarter of 2025 compared to the third quarter of 2024. The increase in constant currency total and same-store retail sales was primarily due to strong demand for value priced merchandise and increased inventory levels during the third quarter of 2025 compared to the third quarter of 2024. The gross profit margin on retail merchandise sales was 36% during the third quarter of 2025 compared to 35% during the third quarter of 2024.

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Latin America inventories increased 30% (22% on a constant currency basis) to $124.1 million at September 30, 2025 compared to $95.7 million at September 30, 2024. The increase in constant currency inventories was primarily due to increases in pawn loan receivable balances over the past several quarters creating more forfeited inventory and a slightly increased mix of higher value jewelry inventory. Inventories aged greater than one year in Latin America were 1.4% at September 30, 2025 compared to 1.2% at September 30, 2024.

Pawn Lending Operations

Latin America pawn loan receivables increased 27% (19% on a constant currency basis) as of September 30, 2025 compared to September 30, 2024. On a same-store basis, pawn loan receivables increased 25% (18% on a constant currency basis) as of September 30, 2025 compared to September 30, 2024. The increase in constant currency total and same-store pawn receivables is primarily due to increasing demand for pawn loans and larger loan sizes, driven in part by higher gold prices and a slightly increased mix of higher value jewelry loans.

Latin America pawn loan fees increased 16% (14% on a constant currency basis), totaling $67.2 million during the third quarter of 2025 compared to $58.2 million for the third quarter of 2024. Same-store pawn fees increased 15% (13% on a constant currency basis) in the third quarter of 2025 compared to the third quarter of 2024. The constant currency increase in total and same-store pawn loan fees was primarily due to increased constant currency pawn receivables. 

Segment Expenses

Operating expenses increased 12% (10% on a constant currency basis) to $70.3 million during the third quarter