“It does assume some level as -- it assumes that inflation persists at current levels and that we may see a slightly greater offset in transactions through the year.”

In context

“f the business in 2022 and that it opens the door to growing next year. I'm not asking for any endorsement on 2023, but curious how you're looking at this reversion question and anything interesting on units as you look at it? Richard McPhail: Well, Michael -- sorry. Sorry, Simeon. It's a good question. I think though, we have to return to Ted's commentary that the consumer, our customer, consumer in Pro has been more resilient than we even expected at the beginning of the year. When we expect -- when we issued guidance at the very beginning of the year, we assumed that we'd see ticket growth driven by inflation and really sort of a like-for-like offset in transaction, we haven't seen that. And so that led to our increased guidance in Q1 of a 3% comp. We've reaffirmed that guidance today. It does assume some level as -- it assumes that inflation persists at current levels and that we may see a slightly greater offset in transactions through the year. But it's a conservative assumption and not really based on observation right now. So the consumers and customer are resilient. Ted Decker: And, Simeon, we've been watching, obviously, all those metrics in PCE and share on goods and share on services and clearly, the US consumer has reengaged in activities outside the house and travel is incredibly strong, right now, in eating out, in hospitality. So there has been the movement in PCE to services as we thought. But home improvement, in particular, has been, again, just incredibly strong, as Richard laid out, which led us to increase our guidance from what was essentially flat at the start of the year to the 3% we just affirmed. But we just don't -- we don't see a slowdown from that and remain incredibly bullish about the engagement level.”