Quarterly guidance

Quarterly guidance
No quarterly guidance was given.

Annual guidance

Identical sales without fuel
0.2% to 0.8% (lowered from 1% to 2%)
Adjusted FIFO operating profit
$5 billion to $5.2 billion
Adjusted net earnings per diluted share
$5.10 to $5.30

Outlook

Consumer environment
Customers remain under pressure due to reduced SNAP benefits, higher fuel prices, and lower consumer confidence.
Pharmacy headwinds
The impact from the Inflation Reduction Act is projected to accelerate to approximately 150 basis points in the fourth quarter.
Cost savings
Cost-saving initiatives are expected to build through the second half of the year.
Fuel margins
Fuel margins are expected to be softer in the second half of the year compared to the first half.
Share repurchases
The company expects to complete the remaining share repurchases during the second half of the year.
Inflation
Management expects more inflationary pressure in the second half of the year but expects to remain below CPI.