Brandon Sink: Yes. Second half, Greg, very much in line.
Greg Melich: Got it. And the difference would be, better traffic in the second half, maybe still negative but less negative? And lessoned…
Brandon Sink: Correct. Correct.
Greg Melich: Great. Thanks, and good luck.
Brandon Sink: Thanks, Greg.
Operator: Our next question comes from the line of Peter Benedict with Baird. Please proceed with your question.
Peter Benedict: Hi guys, good morning. Thanks for taking the question. Just wanted to hone in on the first quarter comp view that you laid out there. We understand the commodity impacts there. But just curious, any early season read? I know it is early, but some of your markets in the South, just curious how spring seasonal demand is starting out here? That’s my first question.
Brandon Sink: Yes. Peter, as we look at February sales consistent with our guidance, we called out the Q1 being below the full year guidance range. And again, that’s primarily due to the lumber pricing pressure that we’re seeing. We are encouraged to see early signs of strength in discretionary seasonal categories, in particular, South and Deep South as our customers begin to prepare for spring, and I’ll let Bill talk to that in a little bit more detail.
Bill Boltz: Yes. Thanks, Brandon. And Peter, we started setting our stores in the South, Deep South, early January. And I think what’s nice to see is spring start to come and the way it’s supposed to come and you start to see sales of product in fertilizer, chemicals, landscape products, start to occur the way they’re supposed to occur. And so we’re encouraged by that. February can always be a wildcard month. But certainly, in these months — in these deep south and south markets seeing it kind of progress the way it’s supposed to.
Peter Benedict: Got it. Thanks. And then just back to the — maybe the promotional plan that you have laid out for the year. I mean, you mentioned in your prepared remarks that the consumer is responding to value. I’m just curious — I mean, we’ve been through a period where there’s been very limited promotion. So, how do we think about the plan maybe for the first half of the year here in terms of your promotions? Things that you tend to do to drive traffic, how they compare to maybe what you’ve done in the last couple of years? That’s my second question. Thank you.
Marvin Ellison: So, Peter, I’ll take the first part of that. At the highest level, you’re not going to see any increased promotional activities by us. We’re very fortunate to be in a very rational industry relative to promotions. And to be quite candid, a lot of the irrational activities came from old Lowe’s. And those practices and behaviors are along behind those. One of the first things that Bill Boltz and I discussed when we arrived four and a half years ago was getting off the high-low promotional drug that we felt was not consistent with how you should run business in this industry. And it’s taken us a while to get there, but we’re very fortunate that we are there. So, we anticipate and see no increased promotional activities. Obviously, as you get out of these pandemic-driven demand cycles, customers are looking for value, but we believe we can offer value without getting to a high promotional environment. Bill, I don’t know if there’s anything you want to add?
Bill Boltz: No, I think the one area that the team may see different activity on is in appliances, and you guys have to remember that roughly 100,000 appliances break every day. And so there’s always going to be an offer in the marketplace for appliances driven by the manufacturers, supported by the retailers. So, that’s one area as supply has improved. Those offers are out there for appliance products. But no additional promotions.
Peter Benedict: Understood. Thank you very much. Good luck.
Marvin Ellison: Thanks Peter.
Operator: Thank you. We have time for one final question, which will come from the line of Steve Forbes with Guggenheim. Please proceed with your question.
