67 annotations
that's in the mid-single negative
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2023 Q3
11 Jun 23
If you look at our fresh foods and food and sundries, they are in the mid to mid-high singles.
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2023 Q3
11 Jun 23
right now we've always been a little bit compared to others over indexed in bigger ticket discretionary items that's getting hit arguably more than others
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2023 Q3
11 Jun 23
We try to correct people when they said it was a downgrading and argue it is an upgrade when they went to Kirkland Signature
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2023 Q3
11 Jun 23
that would again and at least anecdotally suggest that we've seen people looking for better bargains
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2023 Q3
11 Jun 23
still over a full percentage point delta in sales penetration
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2023 Q3
11 Jun 23
on the KS (ph) side, we've also seen that
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2023 Q3
11 Jun 23
I heard a few months ago from our Head of Food and Sundries buyer that we saw some switch even to some canned products, canned chicken and canned tuna and things like that
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2023 Q3
11 Jun 23
within that 0.3% reported, fresh was mid-singles, food and sundries is mid to high singles, non-foods was a little over mid-single negative
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2023 Q3
11 Jun 23
We have seen some of that now.
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2023 Q3
11 Jun 23
we've always seen when there's a recession, whether it was '99 -- '08, '09, '10, we would see some sales penetration shift from beef to poultry to import
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2023 Q3
11 Jun 23
gasoline, which is 11% year-over-year deflation in gas prices
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2023 Q3
11 Jun 23
As of quarter end, our inventories year-over-year as of the end of the third quarter were down 7%. Recall that they had been up during some of the supply chain challenges of last year.
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2023 Q3
11 Jun 23
We continue to see improvements in many items, notably food items like nuts, eggs, and meat, as well as items that include as part of their components -- commodities like steel and resins on the non-food side.
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2023 Q3
11 Jun 23
year-over-year inflation at the time was up 8% by Q1, and in Q2 it was down to 6% and 7% and then 5% and 6% and this quarter, we're estimating that year-over-year inflation in the 3% to 4% range
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2023 Q3
11 Jun 23
inflation continues to abate somewhat
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2023 Q3
11 Jun 23
in the fourth quarter a year ago, we had a $223 million LIFO charge
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2023 Q3
11 Jun 23
a year ago in the third quarter, we had a $130 million charge for LIFO. In this fiscal year, we had no LIFO charge, so a $130 billion year-over-year improvement on that line item
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2023 Q3
11 Jun 23
core merchandise margin, on a reported basis, it was up year-over-year 39 basis points
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2023 Q3
11 Jun 23
Our reported gross margin in the third quarter was high year-over-year on a reported basis by 13 basis points, coming in at 10.32% as compared to 10.19% number a year earlier.
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2023 Q3
11 Jun 23