“If sales perform in line with this range, we expect earnings per share for the first quarter of 2024 to be $1.29 to $1.35 versus $1.09 last year.”

In context

“or relocate about 10 to 15 older stores. Net interest income is estimated to be $143 million. Depreciation amortization expense inclusive of stock-based amortization is forecast to be about $610 million for the year. The tax rate is projected to be about 24% to 25% and diluted shares outstanding are expected to be approximately $332 million. In addition, capital expenditures for 2024 are planned to be approximately $840 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. We are planning comparable store sales for the 13 weeks ending May 4, 2024, to be up 2% to 3% versus a 1% gain in last year's first quarter. If sales perform in line with this range, we expect earnings per share for the first quarter of 2024 to be $1.29 to $1.35 versus $1.09 last year. The operating statement assumptions that support our first quarter guidance include the following: total sales are planned to be up 6% to 8% versus last year's first quarter. We would then expect first quarter operating margin to be 11.1% to 11.4% compared to 10.1% last year. The expected increase mainly reflects our forecast for lower incentives and freight costs that are partially offset by lower merchandise margin and higher wages. We plan to add 18 new stores consisting of 11 Ross and 7 dd's DISCOUNTS during the period. Net interest income is estimated to be $44 million. Our tax rate is expected to be approximately 24% to 25% and diluted shares are forecasted to be about $335 million. Now I'll turn the call back to Barbara Rentler for closing comments. Barbara Rentler: Thank you, A”