“This will continue to negatively impact year-over-year comparisons in Q2.”

In context

“r employees remains a key part of our strategy, and we will continue to focus on driving top-line sales, improving productivity to mitigate the incremental costs. Central was higher or worse by 5 basis points and 3 basis points without gas deflation. Stock compensation was lower or better by 2 basis points and 3 basis points without gas deflation, and preopening costs were lower or better by 4 basis points both with and without gas deflation. Below the operating income line, interest expense was $37 million versus $38 million last year. And interest income was $96 million compared to $154 million last year. As mentioned in our Q4 earnings, interest income faced headwinds in the quarter due to lower cash balances, subsequent to our special dividend in January 2024 and lower interest rates. This will continue to negatively impact year-over-year comparisons in Q2. FX and other was a $51 million gain in Q1 this year versus a $6 million gain last year. This gain offset much of the headwind we saw in interest income in the quarter and was primarily due to FX. In terms of income taxes, our tax rate in Q1 was 22% compared to 24.5% in Q1 last year. As mentioned earlier, this year's rate benefited from a $100 million discrete item related to our annual RSU vesting. Adjusted for this benefit, the tax rate for the quarter would have been 26.5%. Turning now to some key items of note for the quarter. Ron talked earlier about our continued momentum with new warehouse openings. And capital expenditure in Q1 was approximately $1.26 billion. We estimate CapEx for the full year will be approximately $5 billion. Taking a deeper look into core merchandising sales, F”