Says consumers “remain cautious” with discretionary dollars. Expects trend to continue in Q4. Expects elevated promotional activity to continue through holiday period. Does not think elevated promotional environment is structural and sees it abating over time. Expects gross margin improvement in Q4. Says “committed” to reaching long term financial targets. Says “on target” with store refresh goal. Says targeting 25% ecommerce penetration by 2026. Comments taken from Q3 earnings conference call.
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