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we expect traffic trends to improve, we do not expect positive traffic until the fourth quarter
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2023 Q2
31 Aug 23
we expect the total incremental operating profit headwind of up to $170 million in the back half of the year due to the increased markdown activity, additional retail labor and investments in other areas to better support our customers, stores and distribution centers
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2023 Q2
31 Aug 23
we are closely monitoring the impact of student loan repayments on our customers, our guidance does not contemplate any significant impact from the restart of these payments
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2023 Q2
31 Aug 23
We now expect approximately $100 million of additional shrink headwind since last quarter's call.
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2023 Q2
31 Aug 23
financial outlook for fiscal '23
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2023 Q2
31 Aug 23
the shrink environment has continued to worsen
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2023 Q2
31 Aug 23
we also plan to invest up to $25 million in other areas such as an improved inventory demand forecasting tool to better support our stores and distribution centers while lowering our cost to serve
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2023 Q2
31 Aug 23
we are increasing our planned investment in incremental retail labor from approximately $100 million this year to approximately $150 million
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2023 Q2
31 Aug 23
we expect this to result in an operating profit headwind of approximately $95 million in the back half of the year, we believe it will drive traffic and also more quickly reduce excess inventory
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2023 Q2
31 Aug 23
we are strategically accelerating the rightsizing of our inventory position by expanding promotional markdowns, primarily in our non-consumable products
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2023 Q2
31 Aug 23
This decline has been driven primarily by lower average ticket
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2023 Q2
31 Aug 23
We have seen this trend continue into August with negative comp sales through the first half of the month.
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2023 Q2
31 Aug 23
From a monthly cadence perspective, same-store sales growth was strongest and positive in May before declining in June and July.
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2023 Q2
31 Aug 23
our core customers continue to tell us they feel financially constrained
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2023 Q2
31 Aug 23
Within our supply chain, we are pleased to note that our service levels, in-stock levels and on-time delivery rates from our distribution centers have all returned to the levels we saw before our capacity challenges began last year.
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2023 Q2
31 Aug 23
LIFO as well. We're seeing the pace that while it will continue to pressure, Q4, we are seeing the pace of cost increases continue to moderate. And as we look at next year, we'd expect less pressure from LIFO.
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2023 Q3
6 Dec 22
Q3, yes, we were down 27 basis points in gross margin, but we're still about 1 point above pre-pandemic levels despite all these transitory pressures
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2023 Q3
6 Dec 22
When you think about NCI, 80% of the items are $5 or less
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2023 Q3
6 Dec 22
we've long used consumables to drive traffic and nonconsumables to build the basket
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2023 Q3
6 Dec 22
she's coming to us more often. She's buying fewer items on each occasion
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2023 Q3
6 Dec 22