Consumer Staples Distribution & Retail

Target Corporation is raising capital investments to strengthen its store network, supply chain and technology capabilities, expecting capital expenditures of approximately $5 billion in fiscal 2026. Through the first half, the retailer deployed about $2.4 billion in capital expenditures, up nearly 30% from a year ago, with spending directed toward new stores, full-store remodels and technology upgrades. Target opened 17 new stores in the second quarter, bringing the first-half total to 24, and had more than 100 full-store remodels underway, moving toward roughly 130 for the year, as stores handle more than 95% of the company's sales. The company is modernizing its technology foundation and has partnered with OpenAI, Google Gemini and other leading platforms as it explores agentic commerce, saying digital traffic sourced from external AI platforms is growing more than 3.5 times the industry rate versus a year ago. Target is also investing in Proxima, a digital twin of its middle-mile inventory positioning system, and said it fulfilled nearly 30% more same-day and next-day units in the second quarter than a year earlier. Separately, Walmart raised its fiscal 2027 capital expenditure outlook to about 4% of net sales from roughly 3.5% earlier, while Dollar General expects fiscal 2026 capital expenditures of $1.4-$1.5 billion and plans about 4,730 real-estate projects during the year.

Costco Wholesale Corporation lowered prices across several everyday Kirkland Signature items in the fourth quarter of fiscal 2026, reinforcing its private label as a member-value lever. Management said Kirkland Signature typically offers savings of at least 15%-20% versus national-brand equivalents while maintaining equal or better quality. KS Walnuts were reduced to $9.99 from $13.79, Colombian Whole Bean Coffee to $19.99 from $21.99, Dry Facial Towels to $18.99 from $19.99 and Coarse Black Pepper to $5.99 from $6.99. The value push was supported by tariff refunds: Costco received $184 million in the quarter, including $174 million in refunds and $10 million in interest, and management said it intends to reinvest the majority of additional tariff-refund dollars to enhance member value. The Zacks Consensus Estimate for Costco's current fiscal-year sales and earnings per share implies year-over-year growth of 8.3% and 11.8%, respectively, and the estimate for current fiscal-year earnings has increased by 36 cents to $22.87 per share over the past 30 days.

Mission Produce's Marketing and Distribution segment posted third-quarter fiscal 2026 sales of $414.3 million, up from $344.1 million a year earlier, with adjusted EBITDA rising to $24.7 million from $20 million. The company sold roughly 253 million pounds of avocados in the quarter, up 38% year over year, lifted by the Calavo acquisition and growth in its legacy business, though lower average selling prices partly offset the gain. A more balanced sourcing mix across Mexico, California and Peru helped per-unit margins recover sequentially from the fiscal second quarter, and Mission Produce increased its estimated U.S. retail market share by about 60 basis points year to date. Management said added packing capacity in Mexico and California and complementary customer relationships from the Calavo combination could drive meaningful market-share gains between 2027 and 2030. The Zacks Consensus Estimate points to a 17.7% year-over-year decline in AVO's fiscal 2026 earnings and 29.2% growth in fiscal 2027, with the stock carrying a Zacks Rank #2 (Buy).

Pluk Phak Praw Rak Mae Public Company Limited, known as OKJ, the owner of the healthy restaurant brand Ohkajhu, has announced a major business transformation, or Big Revamp, restructuring its menus, portion sizes, pricing, and in-store experience on the largest scale in 13 years, since opening its first branch in Chiang Mai province in 2013. Consumers will experience the new format simultaneously at every branch nationwide starting October 5. The overhaul covers four areas: adding new menu items and smaller size options along with more Side Dish and Add-on choices; upgrading service and the Customer Journey; moving to All-Inclusive pricing that includes VAT with no service charge; and maintaining the quality of ingredients from organic farms in Chiang Mai province under the Farm-to-Table concept. Chief Executive Officer Chalakorn Ekachaiyapattanakul said the changes reflect that customer voices truly matter to the company, amid a Thai restaurant market valued at more than 572 billion baht in 2025 and growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group has also launched the OKJ TOGETHER membership system linking five brands under the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of September 2026, and are expected to exceed 90 branches across all brands by the end of this year. OKJ currently has more than 452,000 members in total and has revised its points accumulation terms to be six times more rewarding and faster, requiring spending of just 80 baht to immediately receive 1 point and 1 star, down from the previous requirement of 500 baht per 1 point.

Tisco Securities released an analysis of retail sector stocks, noting that same-store sales growth, or SSSG, improved by 0.9% in September, recovering from a contraction of 1.5% in July and 0.4% in August, driven by stockpiling of goods related to the flood situation as well as a recovery in fundamentals. It expects SSSG at 7-Eleven under CPALL to come in at positive 3%, while Makro under CPAXT is seen at positive 1.5% and Big C under BJC at positive 2%. Overall, SSSG in the third quarter of 2026 is expected to decline 0.3% under pressure from the high base effect of previous government economic stimulus measures, but strong operating results in September should partially offset the weakness in July and August. Tisco's research team recommends BJC, expecting September SSSG to be positive at 2% on the benefit of flood-related stockpiling and store improvements, as well as the broad-based recovery that began to emerge in August. BJC's stores showed significantly better development across all product categories, and SSSG is expected to accelerate again once the impact of government stimulus spending fades and customer numbers return to normal in December 2026. CPALL, meanwhile, is expected to report September SSSG in positive low- to mid-single-digit territory, improving from the previous two months, with 7-Eleven benefiting from consumer stockpiling in late September amid heavy rain and flood risk. It also received support from extended alcohol sales hours and an increase in Chinese tourist numbers, while the impact of branch closures due to flooding remained limited.

Shares of Plook Phak Pro Rak Mae Public Company Limited, or OKJ, climbed 11.18% to 3.78 baht at 10:57 a.m. on October 5, 2026, on trading value of 41.93 million baht, after Chief Executive Officer Chalakorn Ekachaiyapattanakul said the company is pressing ahead with a major revamp of its restaurant business under the Ookajuu brand, its biggest in 13 years since opening its first branch in Chiang Mai province in 2013. The revamp began across all branches nationwide on October 5, 2026, under the concept Same Roots New Moves, spanning new menu items and smaller portion sizes, side dishes and add-ons, upgraded service and in-store experience, and an all-inclusive pricing structure that includes value-added tax and carries no service charge. On targets, the company aims to lift repeat-visit rates and customer lifetime value, and is developing the OKJ TOGETHER membership system linking five brands in the group: Ookajuu, Oh Juus, Jo Wings, Ookajuu Wrap & Roll, and Grill & Ground, under the concept of one phone number equals one member. As of the end of September 2026, the OKJ group had more than 85 restaurants nationwide and expects to expand to more than 90 branches by the end of 2026. Membership in the system stands at more than 452,000, and the points accrual terms have been revised from 500 baht spent per one point to one point and one star for every 80 baht spent.

OKJ shares jumped 11.76% to 3.80 baht, up 0.40 baht, on trading value of 38.21 million baht, after the company announced its largest business transformation in 13 years, since opening its first branch in Chiang Mai province in 2013. Chalakorn Ekchaipattanakul, Chief Executive Officer of Plook Phak Pro Rak Mae Public Company Limited, said the overhaul covers menu structure, portion sizes, pricing and the in-store experience, in response to consumer behaviour that increasingly emphasises value and variety. Customers will experience the new format simultaneously at every branch nationwide from 5 October 2026 onwards. Pricing will be all-inclusive, covering VAT with no service charge, alongside more small-size options and additional side dishes. This comes as the Thai restaurant market was valued at more than 572 billion baht in 2025, growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group also launched its OKJ TOGETHER-ONE MEMBERSHIP. ALL OUR BRANDS system, linking all five brands in the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of the end of September 2026 and are expected to exceed 90 branches by the end of this year. OKJ currently has more than 452,000 members in total, and has revised its points-accumulation terms to be six times more rewarding and faster, from the previous requirement of 500 baht spent per one point to spending just 80 baht to receive one point plus one star immediately.

OKJ Public Company Limited, known as Pluk Phak Because I Love Mom, the owner of the healthy restaurant brand Ohkajhu, has announced the most significant business transformation in its 13-year history since opening its first branch in Chiang Mai province in 2013. The overhaul covers menu structure, portion sizes, prices, and an entirely new in-store experience. Consumers will experience the new format simultaneously at all branches nationwide starting October 5. Chief Executive Officer Chalakorn Ekachaipattanakul said the changes respond to shifting customer voices regarding value, variety, and flexibility, with new menu items and small-size options added, along with all-inclusive pricing that includes VAT and no service charge. The revamp comes as Thailand's restaurant market is valued at more than 572 billion baht in 2025, growing 4.8% from the previous year, according to data from the Department of Business Development, Ministry of Commerce. Meanwhile, OKJ Group has also launched the OKJ TOGETHER membership system linking five brands under the group: Ohkajhu, Oh Juice, Jo Wings, Ohkajhu Wrap & Roll, and Grill & Ground, which together have more than 85 branches nationwide as of September 2026, with expectations of surpassing 90 branches across all brands by the end of this year. OKJ currently has more than 452,000 members in total and has revised its point-accumulation terms to be six times more rewarding and faster, requiring spending of just 80 baht to immediately receive 1 point and 1 star, compared with the previous requirement of 500 baht per point.

Costco Wholesale Corporation closed fiscal 2026 with total revenue of $276.4 billion, up 8.1% year over year, as the warehouse retailer reported net sales of $93.87 billion, up 11.2%, and net income of $2.998 billion in its September 24 earnings call. Membership remains the engine of the business, with 84.1 million paid members, including 42.3 million Executive tier members, a group that grew 9.4% and pushed that tier's share of the base to a new high, while renewal rates rose to 92.3% in the US and Canada and 89.8% worldwide. Membership fee income climbed 7.3% to $1.849 billion, and management plans 33 openings in fiscal 2027 as it works toward 30 net new warehouses a year, with digitally enabled sales topping $33 billion on growth above 20%. The quarter was not spotless, as reported gross margin slipped to 11.02% from 11.13% a year earlier and the LIFO charge jumped to $152 million from $43 million, tied to pricier memory in electronics and Middle East conflict costs for gas, motor oil, and resins, while tariff refunds added $0.15 per share and the $184 million received covers only about a third of the expected recovery. With the stock trading near historical valuation highs at a forward P/E of 40.32 and hedge fund ownership slipping to 104 funds from 107, the debate now centers on whether membership loyalty and the expansion plan can keep earnings growing into a premium that leaves little room for a stumble.

Major convenience store chains are stepping up their apparel offerings, including clothing and fashion accessories. Seven-Eleven Japan has teamed up with major apparel company Adastria to launch 28 Seven-exclusive items nationwide on September 25, including T-shirts, scrunchies, and seasonal scarves from Nico and and Lowrys Farm, both popular among young women. According to Seven-Eleven, about 40 percent of last fiscal year's customers were aged 50 or older, while those in their 20s or younger accounted for only about 17 percent. Junko Watanabe of the merchandise division stressed that acquiring younger customers is essential for continued long-term growth, and indicated a plan to double apparel sales by fiscal 2025. FamilyMart, which moved early to strengthen its clothing lineup, began nationwide sales in 2021 of its own brand Convenience Wear, developed with a famous designer. Its flagship store, which opened in Tokyo in July this year, carries about 300 items and includes fitting rooms, with a target of 30 billion yen in sales for fiscal 2026, 1.5 times the previous fiscal year. Lawson also expanded the range and floor space for Muji clothing from April, and on September 29 launched items including gloves in collaboration with the lifestyle brand Bruno. According to the Japan Franchise Association, customer traffic at existing convenience stores has fallen below the same month a year earlier for 14 consecutive months, and attention is focused on whether apparel can create destination-purchase demand and lift sales per store.

Walmart, Target and Dollar General each booked tariff refunds as a second-quarter earnings tailwind, using the proceeds to fund price investments and customer-focused initiatives. Walmart received substantially all of its eligible tariff refunds, totaling approximately $2.9 billion, or about 0.5% of annual U.S. net sales, helping lift its second-quarter consolidated gross profit rate 96 basis points to 25.4% and contributing an approximately 750-basis-point benefit to operating income growth. Target recognized $994 million in International Emergency Economic Powers Act tariff refunds as a reduction in the cost of sales, a benefit of 3.7 percentage points to its gross margin of 33.7% and $1.65 to adjusted earnings per share, and it expects fiscal 2026 operating margin to include about 90 basis points of benefit from the second-quarter refunds. Dollar General said gross profit as a percentage of sales rose 127 basis points year over year to 32.6%, with tariff refunds contributing approximately 81 basis points after related reinvestments, while operating profit rose 29.2% to $769.2 million and adjusted earnings per share increased 33% to $2.48, including an estimated 25 cents from refunds. Dollar General received the majority of expected tariff refunds during the quarter and does not expect a material impact from refunds after reinvestments in the second half of fiscal 2026.

Costco Wholesale Corporation's ancillary businesses delivered strong results in the fourth quarter of fiscal 2026, with gross margin for ancillary and other businesses rising 23 basis points year over year and 32 basis points excluding gasoline inflation, while comparable sales in ancillary operations surged in the high 20s percentage range on strength in gasoline, pharmacy and travel. Costco's gasoline business reached record volumes in fiscal 2026 as U.S. member household penetration hit an all-time high, saving members an estimated $3.2 billion at the pump versus regional market averages, and the company expanded 26 high-volume U.S. gas stations to support throughput. The pharmacy department posted nearly 20% sales growth, aided by digital options such as Rx Mobile Pay Ahead and Pickup Lockers plus specialized GLP-1 and fertility programs, yielding double-digit script growth that helped offset Medicare Maximum Fair Price adjustments, and Costco announced a partnership with SCAN Health Systems to develop Medicare Advantage benefits. Costco Travel achieved double-digit growth across vacation packages, cruises and car rentals, with cruise bookings up 16% and more than 750,000 members sent on cruises during the fiscal year. The Zacks Consensus Estimate for Costco's current fiscal-year sales and earnings per share implies year-over-year growth of 8.3% and 11.8%, respectively, and over the past seven days the current fiscal-year earnings estimate rose 36 cents to $22.87 per share while the next fiscal-year estimate rose 44 cents to $24.94 per share.

Kroger is launching a new Kroger Rewards Elite Mastercard powered by the payments platform Imprint. Imprint said its AI-powered platform delivers tailored programs that drive measurable increases in engagement and spend, and Kroger shoppers can earn point multipliers for groceries, fuel, and dining. Imprint CEO Daragh Murphy will join NYSE Live to discuss the partnership and new growth opportunities for his company. The announcement came as part of the NYSE's pre-market update, which also noted the inaugural Fortune AIQ Summit taking place today at the NYSE under the theme 'Putting AI to work,' following the release of the 2026 Fortune AIQ 75 power list by Fortune and ServiceNow. In markets, the 10-year Treasury yield rose to 5.34%, its highest level since April 2002, with the September jobs report due Friday ahead of the market open.

Alphabet rose 2% in premarket trading after unveiling Gemini 4 Argon, its most advanced artificial intelligence model yet, which the company said delivers improvements in cybersecurity, coding and complex professional work. Accenture soared 17% after fiscal fourth-quarter revenue of $18.68 billion beat its own guidance of $17.75 billion to $18.4 billion and the FactSet consensus estimate of $18.3 billion, with earnings of $3.29 per share also topping expectations. Rocket Lab climbed 4.5% after signing a multiyear launch agreement for 20 new Electron missions with Tokyo-based company Synspective, which Rocket Lab called the largest commercial launch contract for Electron to date. Micron reported better-than-expected fiscal fourth-quarter results, earning an adjusted $33.42 per share on revenue of $54.23 billion versus analyst estimates of $31.61 per share on revenue of $51.07 billion, though the stock fell slightly while the Roundhill Memory ETF gained more than 1% and the VanEck Semiconductor ETF advanced 1%. McCormick rose nearly 5% on third-quarter adjusted earnings of 86 cents per share and revenue of $2.02 billion, both above consensus, while Dollar Tree added 1.3% on a Loop Capital upgrade to buy from hold and Nu Holdings gained nearly 6% after denying it is pursuing a transaction with U.K. digital bank Monzo.

Pan Pacific International Holdings, which operates the discount chain Don Quijote, announced on the 1st that it has signed a business transfer agreement with major toy retailer Toys R Us Japan. Toys R Us Japan filed for application of the Civil Rehabilitation Act with the Tokyo District Court the same day, and according to Teikoku Databank, its total liabilities stand at approximately 13.2 billion yen. Pan Pacific International Holdings plans to take over all stores by the end of this month after obtaining court approval, inheriting the brand and main debts while continuing operations, and aims to return to profitability quickly through strengthened sales efforts. Toys R Us Japan has operated more than 150 toy stores nationwide under the Toys R Us name and others, but in recent years it had continued to post losses against the backdrop of a declining birthrate. Pan Pacific International Holdings is also involved in the toy business and judged that combining the two companies' shares would allow it to establish an overwhelming position in Japan's toy market. President Hiroshi Mori, at a press conference on the 1st, stressed that the addition of Toys R Us Japan's broad customer touchpoints will contribute to the group's sustainable growth.

Pan Pacific International Holdings, the company that operates the discount chain Don Quijote, announced on the first of the month that it has signed a business transfer agreement with major toy retailer Toys R Us Japan. Toys R Us Japan filed for application of the Civil Rehabilitation Act with the Tokyo District Court on the same date, and according to Teikoku Databank, its total liabilities are approximately 13.2 billion yen. PPIH plans to take over all stores by the end of this month after obtaining court approval, inheriting the brand and major debts to continue operations, and aims to return to profitability quickly through strengthened sales efforts. Toys R Us Japan has operated more than 150 toy stores nationwide under the Toys R Us name and others, but in recent years it had continued to post losses against the backdrop of a declining birthrate. PPIH President Hideki Mori emphasized at a press conference on the first, saying, "The addition of Toys R Us Japan's broad customer touchpoints will contribute to the group's sustainable growth."

Pan Pacific International Holdings, the operator of Don Quijote, announced on the 1st that it will acquire major toy retailer Toys R Us Japan. The acquisition price was not disclosed, and the deal is expected to be completed within the month. According to PPIH, Toys R Us Japan filed for the start of civil rehabilitation proceedings with the Tokyo District Court on the 1st. PPIH will take over all of the roughly 150 stores in Japan, and President Hideki Moriya, speaking at a press conference in Tokyo, said, "We are considering opening stores inside large Don Quijote locations and those of our group supermarket Uny." The company said it will proceed with discussions toward continuing to use the Toys R Us name, and Senior Executive Officer Kenji Moriya said, "In addition to the existing offerings for children, there is ample room for growth by strengthening our provision of toys for adults." Toys R Us opened its first store in Japan in Ibaraki Prefecture in 1991, and while the U.S. Toys R Us went bankrupt in 2017, Toys R Us Japan continued its business, though in recent years it had continued to post losses amid factors such as the declining birthrate.

Life Corporation announced on September 8 that it will launch a tender offer for Albis, a food supermarket chain based in the Hokuriku region, and make it a consolidated subsidiary. This is Life's first acquisition of a rival supermarket, with the purchase price reaching up to 26.3 billion yen. Life's main trading areas are the Tokyo metropolitan area and the Kinki region, while Albis is based mainly in Toyama Prefecture and the Hokuriku region, and has already expanded into Aichi and Gifu Prefectures, so the two companies' store networks barely overlap. The acquisition would bring Life and Albis's combined sales to roughly 980 billion yen on a simple sum basis, making it a deal that symbolizes the race among food supermarkets to reach the 1 trillion yen mark. Conventional distribution realignment has been based on the dominant strategy of concentrating store openings, but a movement is now beginning to leapfrog trading areas and bring in companies that are strong in those regions.

Costco Wholesale Corporation reported fourth-quarter adjusted earnings of $6.60 per share, beating the Zacks Consensus Estimate of $6.48 and rising 12.4% year over year, while total revenues climbed 11.1% to $95,723 million and topped the consensus estimate of $94,820 million. Reported earnings came in at $6.75 per share, including a 15-cent nonrecurring benefit related to tariff refunds. Adjusted comparable sales, excluding gasoline price and foreign exchange impacts, increased 6.7%, membership fee income rose 7.3% to $1,850 million, worldwide traffic grew 3.3% and the average transaction value increased 5.9%. The company ended the quarter with 84.1 million paid members, up 3.8%, and 150.4 million cardholders, up 3.6%, while digitally enabled comparable sales jumped 19.5%. During fiscal 2026, Costco opened 28 warehouses, including three relocations, for 25 net new buildings and a global count of 939, and management plans another 33 openings in fiscal 2027, including five relocations, against a long-term pace of roughly 30 net new warehouses annually. Over the past seven days, the Zacks Consensus Estimate for the current fiscal year moved up 30 cents to $22.80 and the next fiscal year rose 44 cents to $24.90, implying growth of 11.5% and 9.2%, respectively, while Costco carries a Zacks Rank #3 (Hold).

HSBC analyst Joe Thomas upgraded Target to Buy and raised his price target on the stock to $190 from $125 per share, citing a traffic-driven recovery. In a note Wednesday, Thomas said Target's second-quarter results support the view that a turnaround is gaining momentum, with comparable sales rising 3.8%, including a 2.7% rise in store-originated sales, while underlying profits and EPS came in around 5% ahead of consensus. He said growth was driven primarily by footfall rather than higher ticket values, indicating Target is rebuilding customer traffic without material cannibalisation of its store base. HSBC sees potential for earnings forecasts to be exceeded in the short and medium term, noting year-to-date two-year comparable sales growth of 1.7% and that its estimates require only 0.5% two-year growth in the second half to deliver full-year assumptions. The bank's valuation is based on an 18x multiple applied to its revised FY27e EPS estimate of $10.61, in line with Target's five-year average historical PE multiple.

Walmart is testing AI-powered shopping in India through its Flipkart business as part of a new Google pilot that lets Indian shoppers buy from Flipkart using Gemini and AI Mode. The test allows Flipkart products to be discovered and purchased directly inside Google's AI experiences for users in India, targeting online buyers as the festive shopping season approaches, a period when e-commerce activity typically climbs. The pilot plugs into Walmart's omni channel reach and AI adoption push, with the company betting that e-commerce, rapid delivery, and AI tools can tighten customer retention and support more efficient operations across markets such as India, Mexico, and China. Execution in emerging markets remains complex, and profitability outside the U.S. still trails the group average. For the trial to matter for investors, key tells include how quickly Google and Flipkart expand the product range and user access after the planned broader rollout in October, and whether Walmart starts calling out India or Flipkart AI integrations separately in future earnings commentary or KPI disclosures.

Target announced a new round of price reductions across nearly 2K apparel and home products, building on more than 10K price cuts over the past year. The retailer focused the cuts on categories where consumers remain value-conscious, a move expected to strengthen its value proposition heading into the holiday season. Jefferies analyst Corey Tarlowe said the continued price investments are another clear sign management is making the right decisions for the customer and the business, noting that lower prices help drive value perception and volume gains while enhanced newness provides additional traffic drivers. Tarlowe added that Target has meaningful flexibility from tariff refunds to further fund value initiatives, and that management could reinvest a meaningful portion of that benefit back into pricing rather than letting it flow entirely to profits, which he sees as a path to incremental traffic growth, additional market share gains, and stronger customer loyalty. Shares of Target are up more than 60% on a year-to-date basis.

Dollar General Corporation reported that tariff refunds helped drive second-quarter fiscal 2026 gross margin up 127 basis points year over year to 32.6%, with the refunds after related reinvestments contributing approximately 81 basis points to that expansion. Operating profit rose 29.2% to $769.2 million and operating margin expanded 126 basis points to 6.8%, with tariff refunds adding roughly 66 basis points, while earnings per share climbed 33% to $2.48, including an estimated 25 cents benefit from the refunds. The company said it received the majority of its expected tariff refunds in the quarter and does not anticipate a material impact from them in the second half of fiscal 2026, and it directed a substantial portion toward targeted promotions, lower everyday prices and customer-facing initiatives. For comparison, Walmart said tariff refunds lifted second-quarter fiscal 2027 operating income by an approximately 750-basis-point net benefit after price investments, and Target recognized $994 million of pretax tariff refunds that added $752 million to net earnings and $1.65 to earnings per share, contributing 3.7 percentage points to both gross margin and operating margin. Dollar General shares have advanced 8% over the past three months against the industry's 1.7% decline, and the Zacks Consensus Estimate for its earnings per share for the current and next fiscal year has increased by 50 cents and 32 cents to $7.89 and $8.39, respectively, over the past 30 days.