“The lumber inflation is -- or deflation is going to moderate as we start to look at second half and we cycle over more normal pricing over the balance of the year”

In context

“Q4, what's embedded, both for sales and margin, is that roughly the same as what it was, call it, when you guided a year? Or has anything changed. Brandon Sink: Simeon, thanks for the question. This is Brandon. Let me just kind of speak a little bit to the curve specifically. When we look at Q2 as I mentioned in the prepared remarks, expecting Q2 sales towards the higher end of the full year guide. That's inclusive of the $250 million delayed spring benefit, offset by the 150 basis points lumber deflation and then the $400 million, week shift drag. As we start to transition and look at the second half, we do expect the Pro business is going to continue to outperform and drive our growth. We mentioned that backlogs remained healthy and we expect that business to continue to outpace DIY. The lumber inflation is -- or deflation is going to moderate as we start to look at second half and we cycle over more normal pricing over the balance of the year and then continued strength in what we're seeing with the online business and in core DIY businesses like appliances and paint. So taking all that into account when we look at the second half, we're looking at that in line with the full year guide. Simeon Gutman: That's helpful. And then maybe a follow-up, sticking with the guidance. If you looked at whether it was the weak or even the moderate cases beforehand, margins were going to hold up reasonably well for a couple of reasons, a lot of your internal initiatives. Those drivers that were holding up margin, are those the same? Are you on a faster trajectory? Are you pivoting? Are you prioritizing some over the other? If you could share some of that, please? Brandon Sink: Yes. Simeon, largely the same, roughly flat is what we've spoken”