Same-store sales rose 1.6%, driven by an increase in average transaction amount.
Net income of $514.4 million was down 6.9% compared to the prior-year quarter while EPS fell 2.9% to $2.34.
Both sales and earnings missed expectations. The company also lowered its outlook for the full year.
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For FY2023, net sales growth is now expected to be approx. 3.5-5.0% while same-store sales growth is expected to be around 1-2%. EPS growth is estimated in the range of an approximate 8% decline to flat.
The stock plunged 7% in premarket hours on Thursday.
Prior performance
