“We will stay committed to EDLP.”

In context

“I think when you're talking about changes in the nature of our labor model, the degree of change in transactions really isn't material enough to say that changes the nature of our labor model. Operator: Our next question comes from the line of Michael Lasser with UBS. Michael Lasser: You talked about the promotional environment discounting being very rational. If the cycle or the downturn for home improvement remains protracted and extended, under what conditions would you expect that discounting will be more intense than it was in 2019 across the industry? And if that were to be the case, would Home Depot choose to remain true to the everyday low price and the portfolio approach that it has or would it look to protect market share and participate in some of that activity? Edward Decker: We will stay committed to EDLP. And our promotional cadences, as we said earlier, the Black Friday, appliances and gift center and some spring events for seasonal garden items to get traffic in stores, those have been the playbook for years and years, right, Billy, and we don't see us going away from that. In fact, we've stayed truer to reductions of promotions when you think of categories like ceiling fans that I remember was constantly on and off 10% and 20% off. Paint, which was a promotional category, were 5% and 10% and then it went to 10% and 20s, we've backed off all of that. And on the margin, we prefer to be even less promotional than we are today. If you had a protracted downturn in the market, I mean, for sure, we're going to be competitive. And for sure, we are going to protect our share. But when you think”