| Metric | Q2'25 | Q3'25 | Change |
|---|---|---|---|
| Comparable Store Sales | 5% (vs 5% prior year) | 1% (vs 1% prior year) | 400bps deceleration vs guidance midpoint |
| Total Sales Growth | 10% (vs 13% prior year) | 7% (vs 11% prior year) | 300bps slowdown but at high end of guidance |
| Adjusted EBIT Margin | 6.0% (+120bps YoY) | 6.2% (+60bps YoY) | 20bps sequential gain, 60bps YoY vs 120bps prior |
| Adjusted EPS | $1.72 (+39% YoY) | $1.80 (+16% YoY) | 16% growth vs 39% prior quarter |
| Gross Margin Rate | 43.7% (+90bps YoY) | 44.2% (+30bps YoY) | 50bps sequential gain, decelerated YoY expansion |
| Merchandise Margin | +60bps YoY expansion | +10bps YoY expansion | 500bps deceleration in margin expansion |
| Product Sourcing Costs | $209M (flat as % of sales) | $2M (-40bps leverage) | Massive $207M sequential decline, 40bps leverage |
| Comp Store Inventory | -8% YoY | -2% YoY | 600bps less inventory reduction |
| Reserve Inventory % of Total | 50% (vs 41% prior year) | 35% (vs 32% prior year) | 1500bps sequential decline in reserve mix |
| New Store Openings | 23 net new stores | 73 net new stores | 50 store acceleration, raised 2025 to 104 from 100 |
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