“For the full year, we are now planning for a net sales increase in a range centered around 4%.”

In context

“ery encouraged by our Q1 performance, we have a ton of work ahead of us, and we're maintaining a cautious outlook overall. Notably, in the quarter just ended, we faced the easiest prior year comparison of the year, and we'll be facing the hardest comparison in Q2, a nearly 2 percentage point difference as we begin lapping last year's launch of the Nintendo Switch 2. Furthermore, we believe this year's higher tax refunds were a source of upside to consumer spending in Q1 and that benefit will be feeding over the rest of the year. While consumers have proven to be resilient so far, sentiment has been declining recently, and we're keeping a close eye on their spending behavior. With that as context, I'll turn first to our annual guidance on the top line, where we've updated our expectations. For the full year, we are now planning for a net sales increase in a range centered around 4%. This outlook is 2 percentage points stronger than our prior range and reflects some moderation from our first quarter pace based on the reasons I outlined above. Turning to the bottom line. We previously provided an EPS range of $750 million to $850 million. Given the profit upside we saw in the first quarter, we are now expecting to end the year near the high end of that range. That said, we still have most of the year ahead of us and continue to believe we're best served by maintaining a cautious outlook. Looking ahead, we will continue to focus on providing full year guidance. But as I mentioned earlier, we'll be facing more challenging prior year comparisons in Q2. In addition, we continue to expect more challenging cost headwinds in the first half of the year that are expected to mod”