“But what I expect is that these actions that we're putting in place will position us stronger to see growth in FY 2025.”

In context

“he kind of improvements that we're seeing against three-part action plan. As we look ahead into this quarter and we look at, for example, July, what you see in July is the fact that we are seeing shifts in routines in July. We normally see that from a seasonality perspective, but I think we've seen more pronouncements -- more pronounced changes in the routines in July in addition to some of the tech outages that have impacted people across industries. And so, we see the disruptions, for example, in the airport stores that I mentioned or the hospitality stores where we're seeing strong growth. And so what I would say to you is that our guidance does, at the end of the day, reflect the challenging consumer environment and what we expect the comps to be flat to low-single digit for the year. But what I expect is that these actions that we're putting in place will position us stronger to see growth in FY 2025. Rachel Ruggeri: And just to remind that comp guidance range is a low-single-digit decline to flat. Operator: Thank you. And our next question comes from Sharon Zackfia with William Blair. Please state your question. Sharon Zackfia: Hi, can you hear me now? Rachel Ruggeri: Yes, Laxman Narasimhan: Yes, we can. Sharon Zackfia: Okay, perfect. I felt like a Verizon commercial. I wanted to ask, I know you gave the kind of returns you're seeing in US new stores as well as in China. But I think with the weakness you're seeing in comps, it kind of begs the question of how committed you are to this kind of global rate of expansion in the 7% to 8% range for company-owned stores. Laxman Narasimhan: Well, I'll just make a comment and then hand it to Rachel specifically. So first of all, we're not chas”