Management remarks
Call period: 2027 Q2 · 2026-08-20
Guidance: John Rainey: For Q3, we expect EPS of $0.62 to $0.64.Demand and orders: John Rainey: e-commerce grew 24% in Q2 with over 40% sales growth in store fulfilled deliveries, 20% growth in average weekly customers and over 50% growth in marketplace sales.Analyst Q&A
Analyst Gregory Melich asked: And then my follow-up is on the baseline into '27. Should we think about operating income still growing up to 2x sales as we see the traffic results from the price investment? Management John Rainey answered: What's notably different, though, is how profitable that growth is. And so let's step back for a second and just think about the U.S. comp. U.S. comp is at 2.5%. I think the right way to think about that is really more 3.5% when you adjust for health and wellness. But just take at face value, a 2.5% U.S. comp. We grew operating income 10% ex tariffs. That's 4x the level of revenue growth. We haven't done that level of profit growth relative to the U.S. comp in 2 decades.管理层陈述
电话会期间：2027 Q2 · 2026-08-20
指引：约翰·雷尼：我们预计第三季度每股收益为0.62美元至0.64美元。需求与订单：约翰·雷尼：第二季度电子商务增长24%，其中门店履约配送销售额增长超40%，周均顾客数增长20%，marketplace销售额增长超50%。分析师问答
分析师格雷戈里·梅利奇提问：接下来我想跟进2027年基准预期，考虑价格投资带来的客流量表现，我们是否可认为营业收入仍将以高达营收2倍的速度增长？约翰·雷尼代表管理层回应：值得注意的是此次增长的盈利能力存在差异。美国同店销售额当前为2.5%，调整健康与保健品类影响后实际接近3.5%。按表面值计算，美国同店销售额为2.5%，我们的营业收入剔除关税后增长10%，为营收增速的4倍，这是20年来我们首次实现相对于美国同店销售额的该水平利润增长。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
