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  "notes": "The slide uses a simple table structure to map qualitative categories to specific outlook commentary.",
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      "text": "Note: Adj. gross margin, adj. SG&A, adj, EBITDA & adj. EPS are non-GAAP financial measures. For a reconciliation to comparable GAAP measures, see Appendix of this presentation.",
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      "text": "Comp Sales vs. LY: Q2'QTD trends: negative 20s; Improvement in 2H vs. 1H based on inventory optimization, including incremental clearance activity. Adjusted SG&A: Lower $ vs. LY reflecting aggressive actions to align cost structure to sales. Capital Expenditures: Approximately $300M (from $400M previously), a minimum reduction of $100M",
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