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Home category saw a low single-digit decline compared to last year
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2022 Q2
18 Aug 22
discretionary categories, sales were softer than a year ago, but remained nearly $3.5 billion, or more than 35% higher than the second quarter of 2019.
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2022 Q2
18 Aug 22
strength in our seasonal categories, which we expect will continue in the back half of the year.
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2022 Q2
18 Aug 22
greater trip consolidation
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2022 Q2
18 Aug 22
guest confidence in their personal finances continues to wane.
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2022 Q2
18 Aug 22
What we're seeing in our results and hearing from our guests is that they still have spending power, but they're increasingly feeling the impact of inflation.
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2022 Q2
18 Aug 22
they met working with vendor partners to reduce our fall receipts in light of our updated expectations.
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2022 Q2
18 Aug 22
By moving through excess units, we were able to realign our broader inventory portfolio to those categories our guests are most focused on, including frequency categories like Food & Beverage, Everyday Essentials and Beauty, as well as all things new seasonal and fashion forward.
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2022 Q2
18 Aug 22
Food & Beverage category is front and center, having grown more than 50% or $1.8 billion since the second quarter of 2019.
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2022 Q2
18 Aug 22
we'll continue to lean into frequency categories where guest demand has been strong and where the markdown risks are very low.
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2022 Q2
18 Aug 22
This drove our total digital penetration up to almost 18%, more than doubling in only three years.
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2022 Q2
18 Aug 22
second quarter traffic has expanded by well over 20% since 2019.
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2022 Q2
18 Aug 22
the vast majority of the financial impact of these inventory actions is now behind us.
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2022 Q2
18 Aug 22
allowed us to strengthen our inventory position and in-stock position in the categories that are driving our growth, most notably in Food & Beverage, Beauty and Essentials.
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2022 Q2
18 Aug 22