but have been doing a decent job signing new brands that have higher and more robust growth profiles - Houzz, Sephora, Burlington, Carter's, etc have all been signed in the last 6 months or so and will spin up over the next few years.
I wonder if they’ve been overly aggressive in what they offer these new brands to offset the declining brands. This from a Floor and Decor investor conference about a year ago certainly sounds like that may be the case:
Our credit sales, since I've been here, have grown at a much faster rate than our overall sales. We had a great partner. We actually just recently changed partners in May. That's been a huge benefit for us. The
cost is about 1/4 of what we were paying before, so there's a slightly lower tender cost, and they're a really good marketing company. We switched to a company called Alliance Data Systems, or ADS, and they've been a great partner with us so far. So on the consumer side, we've had great success, and we think we've selected a partner now that's going to make us even better.
And we've seen early signs of our average ticket, average credit line approvals, average spend, and again, it's only been a couple of months now, but we've seen those all
tick up nicely relative to how it was going with our previous partner.