“We expect comps to be stronger in the first half of the year than the second half of the year.”

In context

“pproximately $700 million back into our business in the form of capital expenditures. And during the quarter, we paid approximately $2 billion in dividends to our shareholders and we returned approximately $2.25 billion to shareholders in the form of share repurchases. Computed on the average of beginning and ending long-term debt and equity for the trailing 12 months, return on invested capital was approximately 45.3%, up from 45.1% in the first quarter of fiscal 2021. Now I will comment on our updated guidance for fiscal 2022. As you heard from Ted, we are very pleased with the strong performance we saw during the first quarter, which surpassed our expectations. Today, we are raising guidance for 2022. We now expect sales growth and comp sales growth of approximately 3% for fiscal 2022. We expect comps to be stronger in the first half of the year than the second half of the year. We expect our fiscal 2022 operating margin to be approximately 15.4% for the year, and we expect mid single-digit percentage growth in diluted earnings per share compared to fiscal 2021. While a number of uncertainties remain, we feel confident that we will be able to continue to manage through a dynamic environment while growing faster than our market and delivering exceptional shareholder value. Thank you for your participation in today’s call. And Christine, we are now ready for questions. Operator: Thank you. [Operator Instructions] Our first question comes from the line of Michael Lasser with UBS. Please proceed with your question. Michael Lasser: Good morning. Thanks for taking my question. Understanding that your overall results were very strong, are you seeing any signs that eithe”