“We expect share repurchases made earlier in the year to contribute at least 1% to our FY '22 EPS growth.”

In context

“ainty around further mobility restrictions and lockdowns in China resulting from the government's strict zero-COVID policies as well as increasing inflationary headwinds, it's become increasingly difficult for us to predict the back half of the year with reasonable accuracy. Thus, as Howard mentioned, we believe the only responsible thing to do is to spend guidance for balance of this fiscal year. However, to provide additional insights, we believe our results for the balance of the year will be significantly pressured with heavier pressure in Q3. From a capital allocation perspective, although we suspended share repurchases for the balance of the fiscal year, we've returned more than $5 billion between share repurchases and our quarterly dividend during the first half of our fiscal year. We expect share repurchases made earlier in the year to contribute at least 1% to our FY '22 EPS growth. We will provide a comprehensive update on our business outlook and our capital allocation commitments for FY '23 and beyond at our Investor Day in September. However, as Howard mentioned, we are confident the investments we are making in our partners, our stores and our brand will deliver significant returns in excess of historical levels, resulting in accelerated long-term growth. To summarize, the 2 key takeaways from my prepared remarks today. Our Q2 performance underscores the strong customer demand across our business and around the world. We remain committed to the growth opportunity ahead in all channels and markets, creating and delivering exceptional value to all our stakeholders, our partners, our customers and our shareholders long into the future. Once again, the real credit f”