Subject: Re: $1.4B Renovation
I missed this -- can you point me to where this was reported?

For FY2024, they've guided capex of 1.3-1.4 billion (press release, 10-Q). But I haven't seen guidance on FY 2025

They said this about next year’s capex in the conference call:

any initial thoughts on capex spend just given the significant increase in real estate products anticipated next year? Thank you.

Kelly Dilts -- Executive Vice President, Chief Financial Officer

…

“So with that in the new stores, what we're expecting right now is a capex that would be similar to this year's capex as a percentage of sales and making sure that we're investing in those high-return projects.”
https://www.theglobeandmail.co...