“Pro sales growth is expected to exceed DIY again in 2023 as we expect to continue to outpace the broader Pro market growth by 2x.”

In context

“al of 30.4%, inclusive of an 800 basis point impact related to transaction cost associated with the sale of our Canadian retail business. Turning to our 2023 financial outlook, which we introduced this morning. As Marvin indicated, the long-term outlook for home improvement remains strong. However, in 2023, residential investment will be under some pressure. Given elevated levels of inflation, higher interest rates and a more cautious consumer, we are forecasting a slight decline in the home improvement market. We expect to continue to outperform the market in 2023 with sales ranging from $88 billion to $90 billion. Comparable sales are expected to be in a range of flat to down 2%. Keep in mind that 2023 comparable sales will be calculated based on weeks 2 through 53 in fiscal 2022. Pro sales growth is expected to exceed DIY again in 2023 as we expect to continue to outpace the broader Pro market growth by 2x. We will continue to build on our momentum with the Pro with our new MVPs Pro Loyalty Program, CRM tools, and our expanded Pro brand lineup. We are expecting operating margin in the range of 13.6% to 13.8% as we continue to drive productivity through our PPI initiatives across the organization in part to offset our planned wage investments. For 2023, we are expecting to invest $350 million in incremental wages for our frontline associates, which includes the 2023 portion of the $170 million permanent wage investment that went into effect in December. We expect capital expenditures of up to $2 billion this year and with our planned share repurchases -- we also expect to reach our 2.75x leverage target in 2023, while maintaining our BBB+ credit rating. Our strong operating performance an”