“For 2023, we expect to open approximately 100 new locations comprised of about 75 Ross and 25 dd's DISCOUNTS.”

In context

“23 is a 53-week year. Incorporated in this guidance range is an estimated benefit to earnings per share of approximately $0.15 from the extra week. Our guidance assumptions for the 2023 year include the following: Total sales are planned to grow by 2% to 5% for the 53 weeks ending February 3, 2024. Comparable store sales for the 52 weeks ending January 27, 2024, are planned to be relatively flat. Based on these sales plans, Operating margin for the full year is expected to be in the range of 10.3% to 10.7%. This reflects the resetting of the baseline for incentive compensation, higher wages, the deleveraging effect on flattish same-store sales and lower freight costs. Also incorporated in this operating margin guidance is an estimated benefit of about 20 basis points from the 53rd week. For 2023, we expect to open approximately 100 new locations comprised of about 75 Ross and 25 dd's DISCOUNTS. As usual, these openings do not include our plans to close or relocate about 10 older stores. Net interest income is estimated to be $115 million. Depreciation and amortization expense inclusive of stock-based amortization is forecast to be about $570 million for the year. The tax rate is projected to be about 24% to 25% and diluted shares outstanding are expected to be approximately $339 million. In addition, capital expenditures for 2023 are planned to be approximately $810 million as we make further investments in our stores, supply chain and merchant processes to support our long-term growth and to increase efficiencies throughout the business. Let's turn now to our guidance for the first quarter. Elevated inflation continues to impact our low to moderate income customer. As such, we”