three morning. morning, thank this for would you cover Good to joining and David. everyone, I you, topics Thank like us.
Firstly, results. I will our discuss second quarter
Kristin the hand the will Secondly, Then will opening about over store I the to our program. rest of year. And will our talk to thirdly, financial I the share outlook through for I details. walk call new
guidance growth quarter versus was basis. in X% growth This four versus results. a to X%. our year sales one basis. our Comp X% similar sales about a for XXXX X% our and our trend the geometric season talk as on means sales increased second X% on store a on QX GAAP store represents whole, stat the This let's comp geometric to for it comp QX X% spring a store very of and a was that year Okay,
a numbers. with little are We disappointed these
into came growth. we low year hoped range. X% are We four on we basis, end comp to Year-to-date, to the a do X% at of we As to XXXX, this guided had better.
believe spending trend to previously, Increases course, of continues tax discretionary is sales external but last these are have year but lower going the benefits discussed refunds first lower in customer's this of core As the shoppers income in our and XXXX. had Add lower influencing of underlying we not by which economic significant shopper, on the half been of our that, still under the moderated have impact up. income pressure, huge living, negatively health the impacted a key This low customer. these to factor demographic be cost costs
there some facing moderation been significantly headwinds customer, constrained. still while overall, their discretionary So has is this spending in the
Our price to value, has points. strategy this focus great with on opening especially customer been at
margins and of pleased we we this an where are points. is our continue this improve. must area are turns and strong these at We strategy, execution to with price driving But can
opening customer, to price our our points are at core really value. I feel aspects great opening to so these fashion, price critical quality price difficult much prices. low to offering showing even point opening about opening now brand not last I most values in about get even you, at than all any need these it's one do. price and we tell but year better better of points As is at about the will did sharper off value values just things and price merchant of a It's
core our unusual the said in economic demographic XXXX, relatively income have customers, have into inflation, groups, Coming this higher by we been been groups has cycle income possible overall [unscathed]. down while impacted could was our customers. have before, of been our the income that we potentially As then shoppers, that it in thought other and low economy offset we weakness trade might slowed some stores among this if down lower see traffic more
good, been strategy within Our trade price to down shoppers these great after going for of value points increase and offer assortment. recognizable the has the mix to brands best across better,
higher done now our Our to continue are Again, improve. this is and strategy. this year of and to is brands The job nice executing merchants values than significantly strategy we a push have stronger. mix recognizable need last a that much
been able that that strong of but very means not brands strong Our value our has strategy have been good, our to better, have the value, fact a recognizable price later call, to increase at drive we will of Kristin describe in This off mix branded also margins. environment able up only as supply great we been availability helped by merchant the best there is merchandise.
The our not good of significantly, feel this seen low. execution down the we we liked. stores we as in about that is would unemployment levels remain economy strategy, overall activity slowed down fact not trade have much have as Although our has
lower We in impact have but seen some the so has trade traffic, of previous this our down been on than trend far, cycles.
the outlook into putting context year. with into start year-to-date about on now the expectations our year. is our rest by the and It trend comp important to move me of our Let for talk coming
Number we X% and a execution, two, achieved. X% on a households. we've Our the in similarly, comp improved full Number stat of to X% to like which on the one lower one, things. income moderation year basis. X% some This impact predicated on was feel guidance inflation year was geometric three year four guidance for on
the the this has in economy. an slowdown down. has but lower trade struggling. really tax economy happened And shopper our by number income a is described been as has not traffic slowed payments moment Again, in in lower earlier, by three, described ago offset The refunds. As partially it driven increase and down benefits stores a still overall
year-to-date range. four comp on X% a of year at is growth the actual end of lower year basis comp our full Our guidance
have trend makes sense. year-to-date commentary the just given that trend I We with but this are this provided disappointed
tax We are The a means are X% In stack. midpoint moment, of on the range. that based this we QX also X% this Kristin a is implications year-to-date. of our applying break range to logic, the narrowing the This to she we out a will same year-to-date what geometric explain now X% comp that season the earnings guidance both our full achieved of this XXXX X% to quarters. will and midpoint full the we guidance for discuss to will range geometric Again, QX planning Kristin X% range guidance. is and X% for of X% have trend from to of comp X%. are same the year versus comp
on But brief opening before I we new program. provide to go update our there, store a would like
of count. far, We prototype. our increase major previously, retailers. by And as as Also, we have believe smallest the significant we opportunity are, are the our price to previously, store smaller discussed very we about discussed store off a that excited
less much stores have less For peers traffic, a visible in desirable have reasons, and locations. to and tended larger always our than well of be number they less been historical our
economics inferior our square individual a our and As store off our to sales result, foot are productivity peers. price per
to and locations. productive relocate older our an downsize and many addition less of In new adding to stores, we opportunity have
stated of the net year. over estate few But stores number. has to lack to have struggled real years, in Our XXX the excess of open new availability goal last a been this we given hit
great and of between year, in March over implications last expect this we say & XX are especially There estate real opened to glad discuss. the I'm open to down supply has driven we Beyond. would Bath As of up XX that like several the two to winding I Bed of main months, locations the this new stores. announced net by significantly that
from unusual us to the back Bed we acquired even to & landlord. from in until acquire We XX wait bankruptcy. Bath leases store locations would It Beyond. Firstly, typically the retailer store is for revert have another leases the directly
The to six nine most it will leases is interested rent details months open in. that we location In a and provide moment, paying that that The prepare start benefit to we get of store. the we're acquiring the we Kristin the as pick expenses. as lease, even may directly the take cherry on acquire to is soon downside locations though these
these benefit have material Given to new do a our expect not on XXXX. stores stores sales on our will net the store this year. total timing, us in we impact count or These largely
Bath there many bankruptcy in once are to addition former be Bed process. Beyond may XX other to us Secondly, of locations to the their landlord interest returned they that & are stores, in these
new of new XXXX. opening much but point, So the our stores do at store as like locations, too time. a of provide would ability to we more on is we store specifics we now At will look in early open XXXX our that we number our later at are to that this it program, confident in pipeline
Now over call turn I the would to Kristin. to like
