Richard Dickson

Well, first off, thank you.

It's clear our strategy is working and it is showing up in the momentum.

And we're seeing that in the results.

We've had consistent strength from our consumer behavior that we're winning, actually, with all income cohorts.

When you look at the overall sales, comp up 5%.

That's the seventh consecutive quarter of positive comps for us.

Our leading brand, Old Navy, the largest brand, delivered an outstanding quarter.

We were up 6%.

Gap up 7%.

Banana Republic up 4%.

Gross margin exceeding expectations.

So from an overall perspective, what we see and are proving is consistency in the context of our strategy and our playbook.

As we look at consumers,

We do see the consistency and strength with our customer behavior.

And we've been winning with all income cohorts, as you can see from the differentiation in our portfolio.

We saw equal growth across low, middle, and high.

And while we're seeing external data points to macro pressure, particularly in the lower end,

income consumer, our customers are finding our price, our value, our style, breaking through the competition.

And ultimately, we're very excited to be winning in the marketplace, giving us a lot of confidence as we head into the holiday season.

Look, holidays come every year.