Michelle Gass Bruce Besanko

Michelle Gass

Bruce Besanko

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Building on our momentumPURPOSE:

Put customers first

Build great teams

Act with integrity

Drive results

VALUES:

PILLARS:

Amazing Product

Easy Experience

Personalized Connections

Incredible Savings

Winning Teams

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Driving TrafficOUR KEY PRIORITIES:

Amazing Product

Easy Experience

Personalized Connections

Incredible Savings

ACTIVE/NATIONAL BRANDS

NEWNESS

SPEED TO MARKET

LOCALIZATION

IN STORE

DIGITAL

RIGHTSIZING

1 TO 1 ENGAGEMENT

YOUR PRICE

SMART CART

4

Operational ExcellenceOUR KEY PRIORITIES:

InventoryManagement

Expense Reduction for reinvestment

WorkingDifferently

APR APRFiscal comp

MAR MARFiscal comp

5

Calendar : 53rd week shift impact – Q1

Q1 2/4/18 - 2/10/18

2/11/18 - 2/17/18

2/18/18 - 2/24/18

2/25/18 - 3/3/18

FISCAL 2018FISCAL 2017

3/4/18 - 3/10/18

3/11/18 - 3/17/18

3/18/18 - 3/24/18

3/25/18 - 3/31/18

4/1/18 - 4/7/18

4/8/18 - 4/14/18

4/15/18 - 4/21/18

4/22/18 - 4/28/18

4/29/18 - 5/5/18

1/29/17 - 2/4/17

2/5/17 - 2/11/17

2/12/17 - 2/18/17

2/19/17 - 2/25/17

2/26/17 - 3/4/17

3/5/17 - 3/11/17

3/12/17 - 3/18/17

3/19/17 - 3/25/17

3/26/17 - 4/1/17

4/2/17 - 4/8/17

4/9/17 - 4/15/17

4/16/17 - 4/22/17

4/23/17 - 4/29/17

4/30/17 - 5/6/17

Arrows show shifted comps

Our shifted calendar is in accordance with the NRF calendar

We will report both shifted and fiscal comps

FEB FEBFiscal comp

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Comparable Sales

Q1 Shifted comp: +0.4%Q12017

2018

Q2

Q3

Q453rd week shifts into Q4

2017

2018

2017

2018

2017

2018

1/29 - 2/4

F&F 4/29 - 5/5

BTS 7/29 - 8/4

F&F 4/30 - 5/6

BTS 7/30 - 8/5

10/28 - 11/3

1/27 - 2/2

10/29 - 11/4

Annualized guidance: 0% – 2

Comp Sales:

Margin bps:

SG&A change:

Depreciation:

Interest:

Tax Rate:

EPS:

Capital Expenditure:

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2018 Guidance

0% - 2%

+15 to +20 bps

1% - 2%

~$960M

~$260M

24% - 25%

$5.05 - $5.50

~$700M

As updated on May 22, 2018

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Appendix

JUL JULFiscal comp

JUN JUNFiscal comp


MAY MAYFiscal comp

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Q2 5/6/18 - 5/12/18

5/13/18 - 5/19/18

5/20/18 - 5/26/18

5/27/18 - 6/2/18

6/3/18 - 6/9/18

6/10/18 - 6/16/18

6/17/18 - 6/23/18

6/24/18 - 6/30/18

7/1/18 - 7/7/18

7/8/18 - 7/14/18

7/15/18 - 7/21/18

7/22/18 - 7/28/18

7/29/18 - 8/4/18

4/30/17 - 5/6/17

5/7/17 - 5/13/17

5/14/17 - 5/20/17

5/21/17 - 5/27/17

5/28/17 - 6/3/17

6/4/17 - 6/10/17

6/11/17 - 6/17/17

6/18/17 - 6/24/17

6/25/17 - 7/1/17

7/2/17 - 7/8/17

7/9/17 - 7/15/17

7/16/17 - 7/22/17

7/23/17 - 7/29/17




7/30/17 - 8/5/17

OCT OCTFiscal comp

SEP SEPFiscal comp


AUG AUGFiscal comp

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Q3 8/5/18 - 8/11/18

8/12/18 - 8/18/18

8/19/18 - 8/25/18

8/26/18 - 9/1/18

9/2/18 - 9/8/18

9/9/18 - 9/15/18

9/16/18 - 9/22/18

9/23/18 - 9/29/18

9/30/18 - 10/6/18

10/7/18 - 10/13/18

10/14/18 - 10/20/18

10/21/18 - 10/27/18

10/28/18 - 11/3/18

7/30/17 - 8/5/17

8/6/17 - 8/12/17

8/13/17 - 8/19/17

8/20/17 - 8/26/17

8/27/17 - 9/2/17

9/3/17 - 9/9/17

9/10/17 - 9/16/17

9/17/17 - 9/23/17

9/24/17 - 9/30/17

10/1/17 - 10/7/17

10/8/17 - 10/14/17

10/15/17 - 10/21/17

10/22/17 - 10/28/17




10/29/17 - 11/4/17

JAN JANFiscal comp

DEC DECFiscal comp


NOV NOVFiscal comp

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Q4 11/4/18 - 11/10/18

11/11/18 - 11/17/18

11/18/18 - 11/24/18

11/25/18 - 12/1/18

12/2/18 - 12/8/18

12/9/18 - 12/15/18

12/16/18 - 12/22/18

12/23/18 - 12/29/18

12/30/18 - 1/5/19

1/6/19 - 1/12/19

1/13/19 - 1/19/19

1/20/19 - 1/26/19

1/27/19 - 2/2/19

10/29/17 - 11/4/17

11/5/17 - 11/11/17

11/12/17 - 11/18/17

11/19/17 - 11/25/17

11/26/17 - 12/2/17

12/3/17 - 12/9/17

12/10/17 - 12/16/17

12/17/17 - 12/23/17

12/24/17 - 12/30/17

12/31/17 - 1/6/18

1/7/18 - 1/13/18

1/14/18 - 1/20/18

1/21/18 - 1/27/18

1/28/18 - 2/3/18




Michelle Gass Bruce Besanko

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