“Additionally, we expect full year net interest expense of approximately $1.3 billion, capital expenditures of approximately $2 billion and adjusted effective income tax rate of approximately 24.5%.”

In context

“ing to our outlook. We are updating our full year 2024 financial outlook to reflect better-than-expected third quarter results and anticipated modest storm-related demand in the fourth quarter. While our third quarter results came in ahead of expectations, much of it was driven by hurricane-related sales, while underlying DIY demand remains pressured, especially for discretionary projects. Taking these factors into account, we are now expecting 2024 sales in the range of $83 billion to $83.5 billion, with comparable sales in a range of down 3% to down 3.5%. We also now expect adjusted operating margin of between 12.3% and 12.4%, reflecting the benefits of our ongoing PPI initiatives as well as the incremental direct costs and a lower gross margin rate profile for storm-related activities. Additionally, we expect full year net interest expense of approximately $1.3 billion, capital expenditures of approximately $2 billion and adjusted effective income tax rate of approximately 24.5%. This results in an updated outlook for adjusted diluted earnings per share of approximately $11.80 to $11.90. I'm confident that our continued investments in our Total Home Strategy and our ability to effectively manage our business in any environment will allow us to navigate any near-term market uncertainty while continuing to deliver long-term shareholder value. And with that, we will open it up for your questions. Operator: [Operator Instructions] Our first question is from the line of Peter Benedict with Baird. Peter Benedict: First, just on the DIY loyalty program, you mentioned better penetration levels and renewal rates or repeat rates, I should say, and AOV. Any more color you can add on that? I'm curious where those maybe sit and curious on the year two playbook for DIY loyalty?”