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Analyst
Spencer Hanus
Period: Reporting periods mapped to calendar 2025 Q3 – 2026 Q3 (5 quarters).
- Questions
- 12on tracked calls
- Challenge rate
- 0%none of 12 questions
- Companies
- 5questioned at least once
- Reporting periods
- 5with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right. See how we grade analysts on earnings-call questions.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 12 of 12 questions from 5 companies
DGDollar General3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2026 Q3
I just wanted to ask on tariff refunds and how you’re thinking about the sales lift that you’re going to get from those reinvestments
Show response
Todd framed Q2 investments as offensive and holiday-timed and said guidance contemplates competitor actions.
Calendar 2026 Q2
on the remodel program, I am just curious how that is been tracking relative to expectations
Show response
Emily reaffirmed the 6% annualized comp lift target for Renovate and 3% for Elevate, noting Elevate is early but repositioning the mature store base.
Calendar 2025 Q4
I'm just curious what you think the tailwind could be in year two if there's any tailwind coming
Show response
CEO addressed pricing position as strong with increasing price perception scores. Didn't directly quantify year-two remodel tailwind but noted excitement about all store programs including PopShelf and Mexico.
TGTTarget Corporation3 questions · 2 reporting periods · 0 of 3 challenging
Calendar 2026 Q2
in terms of the shelf resets that you've done to date, how have the sales been trending relative to your expectations?
Show response
Fiddelke confirmed positive response to changes made so far; Sylvester detailed upcoming grocery reset (largest in a decade), home transformation, and Beauty Studio launch.
I just was curious what you're seeing in terms of comp momentum and due to date? And then how are you thinking about reinvesting some of the upside from the comps going forward
Show response
Fiddelke reframed as conviction-driven investment rather than reactive reinvestment; discussed $5B CapEx, store pipeline, and payroll investments. On Q2 trends, noted tougher Nintendo Switch comp but excitement about consumer response.
Calendar 2026 Q1
I'm just curious if you could frame the $1 billion of investment that you're making back into the stores. What are the biggest buckets there? How much in labor?
Show response
Fiddelke details the $1B P&L investment: hundreds of millions in store payroll, plus brand marketing, technology/AI, and merchandising transitions. Remodels at 130+ this year with 10-15 year cycle target, yielding 2-4% comp lifts in year 1.
TSCOTractor Supply3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2026 Q2
what the initial takeaways have been from the pet resets that you've done so far?
Show response
Seth detailed brand expansions, cat reset gains, Fusion pet layout outperformance, and center-court and rec-aisle merchandising opportunities in the back half.
Calendar 2026 Q1
Have you seen any step-up in that? And is that driving any of the softness here?
Show response
Kurt said cannibalization consistent with last few years and modest. New store productivity at high end of 65-70% range even with 40 openings. Localization helping new stores launch stronger. Seth said not assuming changes in dog population trend; focused on actions to return to share growth.
Calendar 2025 Q3
Stepping up for next year. Where do you see most of that growth being centered? Is it new or infill markets?
Show response
John Ordus said new store productivity running strong and consistent, performing above pro forma. Cannibalization coming in lower than predicted. Growth concentrated across the entire US with focus on West tied to new DC opening. Idaho growth highlighted.
HOGHarley-Davidson, Inc.2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2026 Q3
Curious what you've seen quarter-to-date and how the recent strength periods informed your view on '27
Show response
Starrs declined to comment on Q4 trends beyond the guidance, saying only that retail is progressing well.
Just curious how comfortable you are with the amount of product in the channel today?
Show response
Starrs said dealer profitability is on track to double, inventory is in a relatively good place, and most dealers are now asking for more bikes.
COSTCostco Wholesale Corporation1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q4
if you could talk about the cadence of comps you saw through November and then into December
Show response
Gary said comps have been consistent around 6.5% over the last six months with non-foods decelerating but offset by extended-hours benefit, and declined to call out any trade-down or cohort divergence.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| DG Dollar General | 3 | 0%none of 3 questions |
| TGT Target Corporation | 3 | 0%none of 3 questions |
| TSCO Tractor Supply | 3 | 0%none of 3 questions |
| HOG Harley-Davidson, Inc. | 2 | —Rate withheld: fewer than 3 questions |
| COST Costco Wholesale Corporation | 1 | —Rate withheld: fewer than 3 questions |
- DGDollar General · 3 questions0%none of 3 questions
- TGTTarget Corporation · 3 questions0%none of 3 questions
- TSCOTractor Supply · 3 questions0%none of 3 questions
- HOGHarley-Davidson, Inc. · 2 questions—rate withheld: under 3 questions
- COSTCostco Wholesale Corporation · 1 question—rate withheld: under 3 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q3 | 1 | 0%none of 1 question | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 2 |
| 2026 Q1 | 2 | 0%none of 2 questions | 2 |
| 2026 Q2 | 4 | 0%none of 4 questions | 3 |
| 2026 Q3 | 3 | 0%none of 3 questions | 2 |
- 2025 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q24 questions · challenge rate 0% (none of 4 questions) · 3 companies
- 2026 Q33 questions · challenge rate 0% (none of 3 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Demand6
- Capex Investment3
- Revenue Growth3
- Pricing2
- Product Launch2
- Geographic Expansion2
- Guidance Reliability1
- Inventory1
- Trade Tariffs1
- Macroeconomic1
Show all 12 topics
- Cost Pressure1
- Capital Allocation1