46 annotations
We are expecting an approximately $400 million headwind to sales due to the timing shift in our fiscal calendar.
We also expect lumber deflation to pressure Q2 sales by approximately 150 basis points.
Finally, we expect $250 million benefit to sales from the delayed spring.
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2023 Q1
24 May 23
We now expect adjusted operating margin in the range of 13.4% to 13.6% for the full year
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2023 Q1
24 May 23
prior year sales included $1.2 billion generated in our Canadian retail business
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2023 Q1
24 May 23
In the quarter, we recognized a net pretax gain of $63 million on deferred consideration associated with the sale of our Canadian retail business.
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2023 Q1
24 May 23
maintaining our BBB+ credit rating
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2023 Q1
24 May 23
We continue to expect Pro to outpace DIY for the year as Pro backlogs are healthy, and demand for Pro services remain strong.
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2023 Q1
24 May 23
We are now expecting 2023 sales of $87 million to $89 billion with comparable sales expected to range from down 2% to down 4%. Please note that the updated outlook also reflects the impact of lower-than-expected lumber prices.
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2023 Q1
24 May 23
we are now expecting our relevant market, which reflects our 75% DIY, 25% Pro mix to be down mid-single digits this year
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2023 Q1
24 May 23
There was no meaningful impact from shrink or credit revenue in the quarter.
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2023 Q1
24 May 23
Gross margin benefited from a favorable product mix, offset by costs associated with the expansion of our supply chain network.
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2023 Q1
24 May 23
Our monthly comps were down 3% in February. With unfavorable weather patterns across the country in March and April, comps declined 5.4% and 3.9%, respectively.
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2023 Q1
24 May 23
We haven't seen any significant trade down.
In fact, we've actually seen trade up in place across a number of categories.
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2022 Q3
12 Dec 22
the third quarter was our best performing DIY quarter of the year
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2022 Q3
12 Dec 22
we are not seeing anything that feels or looks like a trade down or consumer pullback
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2022 Q3
12 Dec 22
We continue to expect gross margin rate to be up slightly as compared to the prior year.
As you look ahead to the fourth quarter, keep in mind that we are cycling over the second round of lumber inflation in 2021, which benefited product margins.
We also expect continued shrink pressure next quarter.
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2022 Q3
12 Dec 22
Inventory ended the quarter at $19.8 billion, up $3.1 billion from the same quarter last year largely driven by product inflation and higher freight costs with units roughly flat to prior year.
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2022 Q3
12 Dec 22
Product margin rate was up 110 basis points versus the prior year as we cycled over a lumber margin pressure in the third quarter of 2021, which was triggered by a steep decline in prices that began last July. Higher product margin rate was partly offset by 30 basis points related to higher domestic and import transportation costs as well as the expansion of our supply chain network, along with 35 basis points of pressure from shrink.
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2022 Q3
12 Dec 22
Our U.S. monthly comps were up 4% in August, 3.4% in September and 1.4% in October. On a three-year basis, U.S. comps increased 33.5% in August, 37.8% in September and 42.1% in October.
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2022 Q3
12 Dec 22
We're not going to experience the seasonality of the business in the second half of the year, and we're not going to experience that unprecedented overlap in those two highly seasonal discretionary categories.
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2022 Q2
30 Aug 22
we had weather impacts that drove a lot of our negative units
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2022 Q2
30 Aug 22