will financial comments our our for most range of thank joining third Good quarter David. devote we're about the us. to remarks, we share of expectations. forecast going This year. rest for and talking you, and the Thank But are we on our morning, longer results everyone, our few a then you morning,
also provide the outlook XXXX. for on will We thinking some early
Okay.
increased quarter the to of the Comp X%. QX of midpoint store our third with sales our results. start guidance This Let's X% for range was X%.
with pleased back-to-school During the our trend. very we quarter, were
quarter-to-date but weather growth October slightly September of Our unseasonably warm trend. slowed guidance this ahead range through in were comp our then
we strong very outerwear. a course, heritage Of have in
So temperatures third in impact us more the as quarter other general well retailers. on this to compared have to given negative and a Overall, performance. in pleased weather retail, were discretionary softness warmer our with October unfavorability as we across
fourth the are we our comp and quarter, issued store For maintaining adjusted EPS previously guidance.
our economic against up are toughest uncertain. the is We and environment compares external multiyear
comp to Our is of guidance for flat. X% growth the in negative range
off talk weeks financial going to We on our a start ahead solid move now of highest but about that are November is volume model. longer-range I'm the pleased are and still to us.
would Some from the to we will model then time headlines we longer-range I am headlines. our and ago, main that update I share assumptions had going the year. discuss key this model these said this behind
model course, understand we headed. other subject of investors uncertainties it as as and for While long-range where is important constituents any is, helpful think and landlords to are well we vendors, to various
headlines. Okay. The main
our grow digits. each in expect $XX sales total for sales X XXXX.
We year total our This aggregate Over the be about that of low approximately rate versus growth to represents next project years, the average will we double billion. XX% to growth
a forecasted We expect we And expect this terms, our period almost as In operating $X.X X can sales, be is new that XXXX. income. income percentage dollar new XXXX XX% to grouped store financial assumptions sales to store billion. operating margin.
Starting store sales, this sales. operating over buckets: into margin main be and underpin by of to our grow this approximately Xx approximately with operating comp The model our
by over X,XXX. our X XXX XX,XXX new current about comprised mostly net approximately now stores very economics busy feel prototype pace will next on stores. good of Over our these foot years, script the to open square located of in the be we malls.
We expect These
to X and dozen each substantial We these our a locations. relocate of store We and to also or downsizes number plan downsize year. of older, relocations X productive anticipate less oversized
a to of degree confidence We in high and execute have relocations. openings new these ability our store
opening new growth. openings growth. you and significant expect plans comp healthy. for that sales number that expect, double-digit to to just of driver of year-to-year, our XXXX aggregate move may sales most beyond the program be will have the achieve As some XXXX still There would net store new anticipate this on store are be total I'm our pipeline I we outlined.
We lumpiness new store annual advanced to well going our looks but
last forecasting anticipate comp we now the minus we X%. some annual Looking X%.
We XXXX, behind X by our the fiscal years, the was average This the believe comp said, average next growth be we and expect may some has point below prior is XX% in our by digits. in for be may will average growth comp above. pandemic That are positive now that XXXX, it comp variability it annual the continued been that positive whole, interrupted for volatility be X mid-single-digit trend pandemic. extreme X% And our era was assumption us. at of that to some And to years, years mid-single years, mid-single followed this In the over The comp sales is range digits a in XX%. starting as growth year-to-year.
evident XXXX in our In this fact, year-to-date trend. comp is
a can X% for outperform our the we baseline this reasons X% at core we believe X-year customer baseline and there that why As look period. our the is we over over for years, But are X strong point model. for off-price starting next this the think good outlook to we
change have that few the recognize to let more making execution since our that all are been ability we get has not the once. we core we more Firstly, under environment have back our of changes, point. impacted processes are XXXX, years. But to same They been important economic taken strengthening for to difficult. operational over have merchandising capabilities unproven out more These strategies. to external become understand me XXXX, to achieve steps at included rolling been many my would customer time, challenges, has aside main have and strategies off-price. leaving has at business pressure. pursuing steps We Since strategies. these off-price And It unproven our last significant liked.
Also, this been as of numerous early have that the we the is our short-term the have over our make years, driven flexible. of the level not success lot a off-price our peers have These introduced we
results. Over the we these a and strategies of next impact expect strategies few have positive years, these execution our and on our growing improved
store addition, right In the potential comp programs and to This a new have helpful away. provide tailwind over our relocation not happen will time.
be ramp our base, of newer there in join openings, for the the new the slight then will some we up stores as store comp they several by typically the outcomp comp stores XXXX, chain new fact, In cannibalization stores. But as years.
more a base, relocate increase. growth As sense. new could join comp older is point believe nice when tailwind note other this typically stores, to we we and more see One we our lift.
This that to sales comp makes stores
in up-to-date busier a to location. better, a store more moving are We
years that as we next this additional relocations. be comp We increase expect tailwind an could in few the
to and forecast, Based our to about Okay. talk points This our operating XXXX basis latest to In expect going next offset all higher has have costs, XXX margin XXX lost move freight X now margin. on XX% years, approximately this supply of higher we I operating since on and XXXX. costs. chain been margins driven and we operating by the mostly basis in XXXX. points labor am taking about rates of more,
key components expansion. describe me this Let the of
that specific additional years, and in transportation supply partially initiatives productivity but a from few are specific may capture labor unrelated growth. to next lower in chain of upside expenses, these Higher and with that lower worth expenses, freight freight starting driven efficiency of merchant we are that savings main lower initiatives. the mostly expect There Firstly, But And over opportunities driven take again points these be rates years X savings markdowns, majority savings also sales XXXX.
There XXX We the basis therefore, lower about than to number is by there estimates. savings. estimate about XX distribution supply longer X basis these points. in them are sources of automation. through are by margin, included benefits investments have, not expectation expenses in may chain center we and our these these
of sales including There total expenses leverage. second of forms comp X and buying total double-digit related are corporate By to to margin and G&A capture planning growing sales The leverage sales costs expect this rates, on we leverage. sales leverage expansion functions. at source costs and is major
should we and rates mid-single-digit costs store-related at sales comp able grow we as if such leverage addition, occupancy. In to be fixed
to margin sales expect points next about we from the Over leverage. capture XXX X basis these of years, sources of
segue thinking Let initial now me to on our XXXX.
Although believe our the mean is over There this this. geopolitical that annual a can are of growth years, difficult range, the next to predict economic, political we in achieve cautiously might mid-single-digit than X sales XXXX average and planning is business. comp more uncertainty for we we what lot uncertainties.
It
an years, it the to over changes we cautious these business we about have that how a and be in couple may lot quickly our addition, of have sense past In implemented makes of think changes impact.
details model expect X% comp capture off to growth. initial I this So like XX more to of comp our to margin Kristin basis and forecast discuss for XXXX. we about would operating financial year.
At the our long-range expansion for With XXXX, hand points growth, to is QX, point, this next call on X%
