Assuming these sales levels, we are modeling slight deleverage in gross profit margins for the Fourth Quarter and deleverage for the full year. Contributing to the modeled deleverage are increases in coupon expense and net direct-to-customer shipping expense. While any free shipping threshold is subject to change, our current $49 free shipping threshold at our bathandbeyond.com is due to anniversary next month.
For SG&A, we are modeling slight deleverage as a percentage of net sales in both the Fourth Quarter and full year. The modeled SG&A includes increases in technology expense and depreciation related to our ongoing investment. As Steve mentioned, we believe the technology investments we are making will produce long-term benefits and improve our omni-channel capabilities across all of our concepts.
Depreciation for Fiscal 2014 is expected to be approximately $240 million. Our model for Interest Expense for the Fourth Quarter is approximately $20.3 million including the interest related to our $1.5 billion of senior unsecured notes and the interests resulting from our Sale Leaseback Obligations related to certain distribution facilities.
Fourth Quarter tax provisions are estimated to be in the mid to high 30s percentage range with expected variability as distinct tax event occur. We expect to continue generating positive operating cash flow. Capital expenditures for Fiscal 2014 are now planned to be $330 million were slightly more than half for technology enhancements.
As a reminder, these expenditures remain subject to the timing and composition of projects. Our model reflects continued repurchases of shares under our $2 billion share repurchase program with an assumed completion during Fiscal 2016 which may be enforced by several factors including business and market conditions.
The $1.1 billion accelerated share repurchase program which commenced in July 2014 was completed in December 2014 as planned. In connection with the share repurchase activity which includes assumptions about future market conditions, including share price and trading volume, we are continuing to model diluted weighted average share of outstanding to be approximately $178 million for the Fourth Quarter and $189 million for the full year.
Based on these and other planning assumptions, we are continuing to model net earnings per diluted share to be approximately $1.78 to $1.83 for the Fourth Quarter now bringing the full year modeled net earnings per diluted share to a range of $5.05 to $5.09.
I would like to remind you that the timing and amount of our accelerated share repurchase impacts the Quarterly and full year diluted weighted average shares outstanding differently. As you can from our model of diluted weighted average shares outstanding, and as we explained last Quarter, the impact on our individual Quarters will be greater that the impact on the full year.
As a result, the sum of the net earnings per diluted share for the four Quarters of the year representing the three Fiscal Quarters already reported and the estimated earnings per diluted share for the Fiscal Fourth Quarter are greater than the estimated full year net earnings per diluted share by approximately 6 – 7 cents.
Turning to Fiscal 2015, while we are in the process of completing our annual budget, our preliminary modeling assumptions include the following:
We expect to make continued investments in technology and in our omni-channel capabilities. We also anticipate higher technology expenses and related depreciation in both dollars and as a percentage of net sales in conjunction with these technology investment. We anticipate opening approximately 30 stores across all concepts. We expect to continue our program of renovating or repositioning stores within markets where appropriate.
As we previously discussed, while any free shipping threshold is subject to change, our current $49 free shipping threshold at bedbathandbeyond.com is due to anniversary next month.
