Third Quarter 2022
The Company expects the following for the third quarter of 2022 compared to the third quarter of 2021:
- Comparable sales to decrease mid-single digits
- Gross margin rate to decrease approximately 350 basis points
- SG&A expenses as a percent of sales to delever approximately 350 basis points, including incremental investments in technology and higher store labor expenses
- Net interest expense of $4 million
- Effective tax rate essentially zero percent
