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we are forecasting comparable store sales growth for the fourth quarter of 5% to 7%
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2022 Q3
25 Oct 22
Diluted EPS is now forecast in a range of $9.55 to $9.63. This compares to our previous earnings range of $9.48 to $9.60 per diluted share.
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2022 Q3
25 Oct 22
For the year, we now forecast an operating margin of 10.1% to 10.5% in line with our prior guidance
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2022 Q3
25 Oct 22
higher input cost, whether it's fertilizer, and et cetera, that just has not come down. And even if it comes down, it's only coming down in a moderate way. They've got higher labor cost 10, 15, 20 points above a couple of years ago, and there's significant capacity constraints
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2022 Q3
24 Oct 22
If you look at where our retailers are now and just flow those through into the first half of the year, we're going to be at mid- to high single-digit inflation. And then fully expect that, that will moderate into the back half
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2022 Q3
24 Oct 22
We don't foresee a scenario of deflation in any near-term time horizon. '23 or into '24.
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2022 Q3
24 Oct 22
we do anticipate that inflation will remain at elevated rates through at least the first half of next year
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2022 Q3
24 Oct 22
As it relates to inflation, we do anticipate that there will be some moderation towards the back half of next year.
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2022 Q3
24 Oct 22
We are very optimistic about how those categories will play out in the fourth quarter.
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2022 Q3
24 Oct 22
some big businesses for us in the fourth quarter are propane and wood pellets
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2022 Q3
24 Oct 22
In regard to inflation, while moderating, we continue to see increasing costs in the commodity inputs in our product categories, as well as underlying variables like higher labor wages and transportation costs impacting both us and our vendor partners.
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2022 Q3
24 Oct 22
We are forecasting fiscal 2022 net sales of $14.06 billion to $14.12 billion including about $75 million in sales from Orscheln. This is the first time in the history of our company that annual sales are forecast to be above $14 billion. Comparable store sales growth is anticipated to be in the range of 5.4% to 5.8%.
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2022 Q3
24 Oct 22
3-year stack, it represents a 30% increase in average inventory per store compared to Q3 2019, meaningfully below our sales increase over the same period of time
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2022 Q3
24 Oct 22
Diluted EPS was $2.10, an increase of 7.7% from the third quarter of last year.
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2022 Q3
24 Oct 22
At the end of the quarter, merchandise inventories were $2.7 billion, representing a 19.2% increase year-over-year in average inventory per store.
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2022 Q3
24 Oct 22
For the third quarter, our gross margin declined by 32 basis points to 35.6% of sales.
Our price management actions and our other margin-driving initiatives were able to offset the pressures from cost inflation and higher transportation costs.
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2022 Q3
24 Oct 22
he comparable average ticket growth of 7% benefited from inflation, partially offset by declines in big ticket sales and average units per transaction.
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2022 Q3
24 Oct 22
retail price inflation contributed about 12 points to our comparable store sales
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2022 Q3
24 Oct 22
Our outperformance in year-round categories offset the declines in our late spring-summer seasonal product and big ticket categories.
We continue to gain share across all our categories, both in-store and online.
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2022 Q3
24 Oct 22
less favorable weather negatively impacted our comp sales by about 150 basis points
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2022 Q3
24 Oct 22