“On a fifty-two-week basis, adjusted diluted earnings per share would be essentially flat compared to fiscal 2024.”

In context

“pect total sales growth to outpace sales comp, with sales growth of approximately positive 2.8% and comp sales growth of approximately positive 1%, compared to fiscal 2024. Our gross margin is expected to be approximately 33.4%, essentially flat compared to fiscal 2024. Further, we expect an operating margin of approximately 13% and an adjusted operating margin of approximately 13.4%. Our effective tax rate is targeted at approximately 24.5%. We expect net interest expense of approximately $2.2 billion. We expect our diluted earnings per share to decline approximately 3% compared to fiscal 2024 when comparing the fifty-two weeks in fiscal 2025 to the fifty-three weeks in fiscal 2024. And we expect our adjusted diluted earnings per share to decline approximately 2% compared to fiscal 2024. On a fifty-two-week basis, adjusted diluted earnings per share would be essentially flat compared to fiscal 2024. We plan to continue investing in our business with capital expenditures of approximately 2.5% of sales for fiscal 2025. We believe that we will grow market share in any environment by strengthening our competitive position, our customers, and delivering the best customer experience in home improvement. Thank you for your participation in today's call. And Christine, we are now ready for questions. Operator: Thank you. We will now be conducting a question and answer session. One moment please while we poll for questions. Our first question comes from the line of Zach Fadem with Wells Fargo. Please proceed with your question. Zach Fadem: Hey, good morning. Starting with the July improvement, do you view this more as a catch-up due to weather or an underlying change in trend? And then as you”