Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Analyst for Gregory Melich – Morgan Stanley.
Analyst for Gregory Melich – Morgan Stanley
As it relates to comp progression during the quarter, can you talk about how comps may have trended or improved as you began cycling stimulus.
And then relating to some of the gross margin, improvement we've seen and the initiatives you have there, if you could provide an update again on the percentage you feel we're through and what's left to be realized there.
Michael A. Norona
First of all, we typically don't provide inter-quarter results just because as you know, last year we talked about the 2% stimulus, we say that. Obviously that did have an impact on our DIY comps.
As you look between the quarters there's so many things that could happen. You look at unemployment that was up about 400 basis points from last year, so you've got weather, you've unemployment, the economic factors.
What we can tell you is that we're focused on rebalancing our portfolio and we are pleased with the progress to date.
Jimmie L. Wade
That's pretty much what I could add. I think as we looked at the second quarter, especially relative to the first quarter, we knew we had some stimulus impact from last year. We certainly look at how we're doing relative to market share, overall, and feel pretty comfortable with where we are there. So nothing significant one way or the other in regard to the trend during the qtr.
Darren R. Jackson
And if you were to look at it, June was a little bit softer. I think we had some of the record coolest weather than we had a long time. And July was up a little over June, so it was a little bit choppy.
Kevin P. Freeland
On the margins, relatively straight forward, about two-thirds of it was actually at the register and it was various initiatives, both the price optimization that we've spoken of previously, lower cost of acquisition of goods and greater preservation of margin at the register, and about a third of it was comprised of the continuing improvement in our shrink results.
Analyst for Gregory Melich – Morgan Stanley
And then to follow-up with the two-thirds at the register, as far as price optimization goes I know in the past you've spoken about that likely continuing into next year. Can you provide an update, if we're about a third of the way through with custom mix, about how far would price optimization be at this point?
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