Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Betty Chen - Wedbush Morgan.
Betty Chen - Wedbush Morgan
I was wondering, certainly it seems like so far we’ve already started the year on a great footing here and I know, Mindy, you’ve already talked about how pleased you’ve been with the strength in the tops business. I was wondering if you can talk a little bit about, what we maybe able to anticipate later on in spring or perhaps back-to-school in terms of the bottoms business and also what sort of merchandise margin opportunity we can see related to that. Thank you.
Mindy Meads
Betty, if you talk about the bottoms, we’re kind of trailing down on the Denim season right now and the short season hasn’t really started yet, we anticipate that coming into second quarter. As we move back into back-to-school, we do see the bottom of choice becoming Denim again. So, I think that right now, it’s just really turning into a very, very strong top and particularly, where now these first five weeks.
Operator
Your next question comes from Christine Chen - Needham & Company.
Christine Chen - Needham & Company
I wanted to see, could you possibly talk a little bit, how you was thinking and approaching the Easter shift and what impact that may have on March comps versus April comps and does your guidance reflect that the continuation of February same store sales trends?
Mindy Meads
Christine, I think that as we’re looking at it now, we see a high single-digit shift that’s going to come out of March into April.
Michael Cunningham
Christine, this is Mike. With regards to guidance, we don’t comment on more comps are assumed in that number, sorry.
Operator
Your next question comes from Edward Yruma - KeyBanc.
Edward Yruma - KeyBanc
Without the shift in the floor-set, what would inventory have been down year-over-year? Thanks.
Michael Cunningham
This is Mike. Approximately, half of the decrease was due to the floor-set timing. So, inventory is probably down about 8% per square foot.
Operator
Your next question comes from Michelle Tan - Goldman Sachs.
Michelle Tan - Goldman Sachs
Just following on that question on the inventory, how your receipts for Q1 and can you talk about your ability to chase inventory and also what you’ve sense beyond the gross margin front because you’re much leaner than I would have expected coming into the quarter, which is great.
- To read the full transcript on Seeking Alpha, click here »
