Chris Horvers

historically, does the business accelerate from that recent trend because of that

what do you think the right underlying run rate of your domestic businesses is

Can you talk about the growth opportunity in Mexico, about 900-ish stores? How big is your market share?

is the LIFO numbers that you put out, Jamere, predicated on that 3% inflation in the balance of the year?

Is it that the inflation is not here yet because people pause shipments coming out of China, and it's just a slow inventory turn business?

can you talk about the persistence of some of these costs like the shrink and the self-insurance costs?

is the step-up true? Or do you expect to lap these investments at going?

how should we think about your Mexico sourcing exposure? And any comments on whether the suppliers with facilities in the free trade zones

To what extent do you see flexibility in your ability to just take it up, and keep that investment grade rating?

can you talk about what's going on there? That seems, that level seems pretty consistent with where you've been

what you're seeing in terms of like the benefit of both businesses to the gross margin line in the second half?

can you talk about what you're seeing here in November

How are you actually planning that? As you do get into the fourth quarter

is elasticity surprising you in either direction?

That 1 point headwind on the 10% tariff from China, is that assuming that you raise price

how you're thinking about the Mexico exposure

is there a change in the rationality of the overall market or is this simply just something opportunistic

There's been a lot of noise in January and February on the weather, whether there was a net benefit to January

it looks like executive members per week grew at an accelerated pace from 4Q to January

So my question has to do with the extended member hours. To what extent do you think that

when Ron, when you mentioned that it improved in the latter half of the latter part of the quarter, is that

do you think about the 8+% core comp that you saw in the month of February? Did you see any weather headwinds

can you talk about what drove the core on core margin performance this quarter? You have the MFI now rolling through

to what extent do you expect that to be inflationary? And I guess, to what degree and is that baked into your guidance

how are you thinking about the synergies of operating a global automotive business?

Can you break out for us your expected CapEx and D&A in Motion and the Automotive business as you are planning 2026?

can you talk about what was same-SKU inflation in U.S. NAPA? And how are you thinking about incremental pricing coming through over the next couple of quarters

how would you characterize any dissynergies if the 2 businesses operated separately both from a purchasing standpoint as well as shared corporate costs

Can you talk about how you think about maybe the cadence of that? Is there an assumption that the tariff uncertainty dies down and that the organic growth rate accelerates

you saw a real step up in comps for motions. So could you talk a bit more about what drove that and what you're hearing from those customers

is that slower trends there due to simply the markets that the independents tend to be in, more rural markets growing more slowly?

Do you think the tariff is something that could remain an overhang, until it fully goes away, such that that pushes out that Motion recovery

can you give us some guidance on how you think about the progression of the comps over the year?

could you help us and narrate that because you did have strong sales growth, and margins were down year over year.

Could you bucket the headwinds that bring you down from that between royalties digital gaming costs and tariffs?

maybe talk a little bit about what the gross net headwinds from tariffs were in the third quarter.

as you think about the content that you have for next year, is the strategy a little bit of like all of those UB sets combined are sort of like in aggregate, become bigger?

I'm curious if they're asking you to more directly bear the inventory risk, i.e., we'll fulfill it for you.

are you seeing prices steep in from others already in the market, and how do you think the U.S. consumer is reacting to tariffs at the category level?

what are your conversations with retailers like? There's media reports about some big players canceling orders from China, but it sounds like you're not seeing that.

can you talk through the different scenarios you're thinking about in the event the 145% on China holds? And how toy spend is impacted relative to the broader impact on the consumer's wallet.

there are a lot of questions that perhaps there was some holiday pull forward in general merchandise, February weakness, Hispanic consumer, weather, so on and so forth.

could you contextualize them relative to your experience on an individual basis relative to the experience that you saw in Lord of the Rings, please?

How do you think about weather as an impact in the first quarter, particularly in April

how do you think about the symmetry of higher rates, i.e., if we stay at these level of mortgage rates

why wouldn't we think that the launch point into 2026 is, sort of one, or if not better, than this 1%

is there anything like unique that we should think about that this is not -- this is or is not the right level to start to think about building the business

there are a number of like puts and takes on in the back half around comp cadence that I'd love for you to talk about

Could you compare and contrast the business relative to the roofing business, which is SRS's largest vertical?

there's a lot of noise out there with the weather, which you called out, perhaps some CNN effect given the news cycle

Appliances were paint was up. You know, was that was that volume driven? And and to what extent do you think the category was up versus Home Depot

do you think, you know, that the weather had any influence on the business in in January in in any comment on exit rate

how much maybe that helps your business, do you think it's helped so far this year

do you think there was any shift of spring out of the first quarter into the second quarter

do you think the demand in the category is just starting to elevate at the margin?

we haven't had a winter like this in perhaps a decade. You also have a larger relative, you know, outdoor business relative to your peers. Is there an analog?

is the flat guide for the fourth quarter simply just like, hey, there's uncertainty and there's a harder compare

kitchen and bath, I think you said it was positive looking back, it seems like you'd have to go all the way back to 1Q '23. What's changed there?

does these acquisitions, do you sort of like the investment in fulfillment and branches and warehouses grow with the business?

Did all of that happen? And is it fair to say that weather was net neutral or do you think it was maybe a tailwind or headwind

do you think there was any impact to the business related to weather in the first quarter? Mid-single digits, very strong

Does that remain your expectation, given where tariff rates sit? And then there's never been so much focus on inventory accounting methods

Can you talk about the shape of gross margin over there? You are still expecting, I think, the vendor clawbacks to cycle into the first half

did you see election deferral? Was there any weather benefit sort of or weather benefit that maybe helped November and December?

It looks like DIY was maybe down 4%, the first half was down about 7%. Was this in line with your expectation?

was the hurricane actually a net drag to earnings? It seems like that's what your point is too

is it fair to say that quarter-to-date trends are continuing to hunt in that double-digit range

is it fair to say you generally pass along any product cost inflation from commodities or higher ocean freight, but probably absorb the impact of higher domestic fuel costs

Can you talk about your latest thoughts around the U.S. store potential? And maybe Mexico and Canada as well

what gives you the confidence to raise to the upper end of the range at this point in the year?

to what extent are you baking in more normalized promotion levels, more normalized markdown levels into the guide? And if the answer is the offsets the tariff cost, can you maybe dimensionalize how...

Is your expectation that comps turn positive in the back half or by the fourth quarter?

Is that 120 a good number to think about for the rest of the year? Or was this some sort of -- was there a catch-up adjustment

Target Plus going from $1 billion to $5 billion, it's a big number, that's big growth. Is that -- what's driving that?

how do you think about the headwinds in the category between sort of like structural versus a mix sort of headwind

how do those build? Like when do you think that will become sort of a greater portion of the comp such that the overall trends become a lot less macro sensitive

Was whether you think that 50, 60 basis point lift from the shift from 2Q to 3Q on the seasonal business, do you think it was less of a tailwind considering what happened in September

do you think that the weather was a net headwind in the second quarter? Perhaps that the right trend is 2% as we're building into the back half?

In a 2% to 4% industry growth, is that a deceleration versus 2025? And then to what extent are you baking in the geopolitical backdrop?

can you talk about what the early response is to Rare Beauty? How should we size it in terms of an analog?

How much do you attribute to the fact that you've seen the competitive encroachment fade, Kohl Sephora comp flat versus what you're doing

How much do you think it was just maybe just the fade of this headwind versus your better execution?

are you positive quarter-to-date? You mentioned encourage -- and how are you thinking about the balance between the five fewer days

How are you thinking about how the consumer behavior changed?

the progression of marketplace growth

your largest competitor expanding grocery delivery

strong gains with upper income households

Can you speak to the changes in the 4Q operating income guide relative to where you started the year ex the FX change?

does that 60 million of tariff cost that is hung up in inventory right now essentially flow through in the second quarter

can you maybe talk about the West Elm acceleration a bit more

was there some elasticity perhaps that showed up?

to what extent do you think the strong comp that you posted was affected directionally to the positive or to the negative?