“If current conditions continue, we'd expect further contribution beyond what's baked into our guidance.”

In context

“Eli Simon (Chief Executive Officer, President & Chief Operating Officer): We've seen no signs of a slowdown; traffic accelerated in July. Sales are the one thing we cannot control—macro factors, geopolitics and an election are out of our control. When we think about guidance, if sales trends continue, we'll be above our guidance range, but it's hard to know how sales will perform, so we assumed some moderation. We can control leasing and expense management, but not sales. The guidance effectively assumes some slowdown; if it stays as it is, we'll be above that range. For the six months, comps are up about 6.3%, which is strong. There are tougher comps in the back half of the year given the timing of last year's positive trajectory, but we are hopeful the consumer remains resilient. If current conditions continue, we'd expect further contribution beyond what's baked into our guidance.”