Overview

• U.S. comparable sales rose 6.7% in August excluding gas and FX, a 20-basis-point acceleration from July, with fourth-quarter U.S. comps up 6%.
• August net sales totaled $21.56 billion, up 8.7% year over year, and companywide sales increased about 6.9% excluding fuel and currency effects.
• Quarterly net sales reached $84.4 billion, an 8% increase from a year earlier and in line with Truist’s expectations.
• Truist on September 5 maintained a Hold rating and a $1,042 price target, citing operational strength but a valuation near 50 times projected 2025 EPS.
• Independent coverage likewise flags a premium multiple, with a Seeking Alpha Hold and ~$1,000 target and reports noting a P/E around 54 that briefly topped 60 in 2025.