Reports Q3 revenue $2.71B, consensus $2.75B. Reports Q3 SSS up 1%. Michael O’Sullivan, CEO, stated, “Total sales increased 7% in the third quarter, while comparable store sales increased 1%. Traffic to our stores fell off significantly after the back-to-school period driven by unseasonably warm temperatures in our major markets. Our comp trend then picked up to mid-single-digits in mid-October once the weather cooled, and that strong trend has continued through the first three weeks of November.”
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