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in the first quarter, we were seeing higher comp gallon gains than in the second quarter and some of that is the falling gas prices in the second quarter.
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2022 Q2
30 Aug 22
Comp sales in the second quarter were up 7.6% ex-gas (ph).
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2022 Q2
30 Aug 22
our non-gas clubs, those clubs that do not have a gas station we're also very positive from a traffic perspective as well.
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2022 Q2
30 Aug 22
our continuing push into the co-brand Mastercard product that where our members get $0.10 off a gallon every day.
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2022 Q2
30 Aug 22
members on the lower end of the economic spectrum, we're seeing a little bit of a pullback there
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2022 Q2
30 Aug 22
gasoline business
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2022 Q2
30 Aug 22
my guess is it goes back up a little bit that may challenge our profit liability, but it will definitely help our value perception and our traffic and our membership.
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2022 Q2
30 Aug 22
the majority of our second quarter comp was driven by traffic that we're sort of forecasting continuing.
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2022 Q2
30 Aug 22
Digitally enabled sales in the second quarter grew 47% year-over-year and over 350% on a three-year stack.
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2022 Q2
30 Aug 22
Our two-year stack was up 4% reflecting a three-year stack of up 28%.
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2022 Q2
30 Aug 22
Inflation contributed approximately 9 points to our comp
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2022 Q2
30 Aug 22
Merchandise comp sales, which excludes sales of gasoline increased by 7.6% and for the second consecutive quarter were predominantly driven by traffic growth.
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2022 Q2
30 Aug 22
we have certainly seen higher sales, traffic and market share.
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2022 Q2
30 Aug 22
Our second quarter comp was driven by significant gains in traffic and market share
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2022 Q2
30 Aug 22
our push into services as well, which tends to be a bit more margin dense.
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2022 Q2
30 Aug 22
we figured it was somewhere around a point of margin growth to be had over time when you think about our ability to buy better as we grow our push into own brands
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2022 Q2
30 Aug 22
we expect the year-over-year change in our merchandise margin rate to remain negative in the third and fourth quarters, but improved sequentially as we progress through the rest of the year.
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2022 Q2
30 Aug 22
we took markdowns across our general merchandise business, which further pressured our second quarter margins.
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2022 Q2
30 Aug 22
our merchandise gross margin rate decreased by 50 basis points, primarily due to growing supply chain costs and inflation
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2022 Q2
30 Aug 22