Greg Melich

what sort of comp now do you expect given the growth plans to be necessary to leverage SG&A?

it sounds like you guys have seen no price elasticity to unit demand as this is occurring?

Wondering if they're taking those discretionary items out of the basket, or what sort of behavior you're seeing on trade down

could you just level set us now on where your COGS come from? What percentage are import, what come from China

on commercial we have the same SKU inflation and DIY, but why was DO IT FOR ME deflationary?

how much of the store has some vendor support into labor?

how much of that do you think has actually flowed through to on the shelf AUR at this point?

Do you think that still holds given that sort of this -- if we land at this tariff rate in the low to mid-teens?

the 3P growth, and the advertising. Where does that show up currently?

I would love to unpack a little bit more on disinflation and inflation

I wanted to follow up on inflation. You mentioned how, I believe, it was a little bit less this quarter than the prior

was food in inflationary or not in the quarter? And and how do you see that trending

I do want to circle back on inflation. Gary, I think you mentioned it was low single digits

On the inflation in grocery last quarter, said it was slightly positive. Was that around 01%?

I have one clarification than my question. Clarification was on inflation. I heard up low single digits

Could you update us on what the penetration is now and also how if you add on Instacart and, I guess, the Uber Eats start

how do you think it could impact the culture and how do you think about working that through the thinking just bolt-on M&A along the way

How do you think the increased cost, as you mentioned on freight, you said it would pass through? So do you expect pricing to now for the year be running at that 3%?

On the inflation trend

How are you thinking about dividends, either having one or keeping a growth rate given the history of Genuine Parts Company with that?

Besides the cycling of the business acquisitions, what would -- is anything else accounting for gross margins being up less in the fourth quarter

what was the incremental $30 million of restructuring expense? What was that spent on? And that $200 million of savings, is that already started to flow in

I want to make sure I got it right that it's 200 bips for the year for the company. So that's implying the back half is 300 bips after 100 bips in the first half?

just sort of where are we on that? And anything on initiatives to reaccelerate the share there and turn the comps for the overall business?

Is there a scenario that could make things better, particularly given the nature of the product and the potential to pass through pricing?

Remind us your business proposition around tariffs. And if you look to protect gross margin dollars, or protect gross margin rate

It sounds like we started this year, below the sales growth range that you're expecting for the year. Is that fair to say

how much of that 150 bps of acceleration is related to some of the early tariffs going through? How much of it is mix?

The 50 bps is the full annualized effect on the margins of the 2 acquisitions, right?

What was it in the quarter? Was it anything as part of that ticket growth? And are tariffs contemplated in your guide?

Is that still a good framework to think about given the demand levels here?

I would love to follow up on what you were seeing in like-for-like inflation, the 600 basis points, and how do you think about the changing input costs

is it fair to say that maybe tax refunds is an extra couple 100 basis points of demand versus what you were thinking back in February

How do you see that trend? It sounded like maybe a little better as we got into the winter

the 600 bps of same-SKU inflation, if average ticket would have been up, say, 4% to 5% because you had fewer items in basket and mix, is that a fair way to summarize 4Q?

Does that mean that from here, there's none? Or is there still some residual we flow through the next couple of quarters?

What have you seen historically from price elasticity, particularly on the DIY side?

how much do we expect gross margins to expand in two Q and then the rest of the year?

do you see the M&A opportunity shifting or is this a good time to ramp investments that you have planned in the pipeline?

inflation and AUR expansion, average unit retail or, you know, mix complexity put together, could be a normal two to three points of comp. Do you think is that what we ended up doing last year

you mentioned that inflation same SKU was, I think, point nine percent in the fourth quarter. What what did you see from mix and complexity in the fourth quarter

if you could talk about kind of the rationale behind the acquisition of Poppi and what you're planning to do with the brand

could please talk a bit about the PBNA pricing strategy for 2025 and then a bit more about higher thinking of promo in that segment

I would love to dig a little deeper on the gross margin expansion in the first quarter, I guess the 90 bps

I wanted to follow up on price mix. In the fourth quarter and then also the 7% price hike on January 1.

if we look at the full year or just the third quarter, how much volume hurt gross margin rate?

I guess, what would gross margins had been if we even managed to have volume be flat or up the quarter. Can we think of, you know, that being forty, fifty, sixty bps of relative pain?

Should we expect the first quarter to have been the biggest expansion in gross margin or are there other things at work that could help us through the year?

What commodities or areas are driving that? Are tariffs in any way a factor?

do we expect traffic to be positive as part of getting to that low single-digit growth? And then second, if we are very different from that, let's say, the comp range is 0% to 2%

I'd love to dive deeper into the traffic acceleration, both at Walmart U.S. and at Sam's Club

disinflation, especially with drug prices coming down

I do want to unpack Walmart+ membership

what's the time lag that you would expect to see that show up on the shelf

I wanted to follow up on the membership growth and the -- what's driving that there