Welcome to the Advance Auto Parts Third Quarter 2012 Conference Call. [Operator Instructions] And today's call is being recorded. Before we begin, Joshua Moore, Director of Finance and Investor Relations, will make a brief statement concerning forward-looking statements that will be made on this call.

Good morning, and thank you for joining us on today's call. I'd like to remind you that our comments today contain forward-looking statements we intend to be covered by and we claim the protection under the Safe Harbor Provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events, developments or results and typically use words, such as believe, anticipate, expect, intent, will, plan, forecast, outlook or estimate, and are subject to risks, uncertainties and assumptions that may cause the results to differ materially, including competitive pressures, demand for the company's products, the economy in general, consumer debt levels, dependence on foreign suppliers, the weather, business interruptions and other factors disclosed in the company's 10-K for the fiscal year ended December 31, 2011, on file with the Securities and Exchange Commission. The company intends these forward-looking statements to speak only as of the time of this conference call and does not undertake to update or revise them as more information becomes available. The reconciliation of any non-GAAP financial measures mentioned on the call with the corresponding GAAP measures are described in our earnings release and our SEC filings, which can be found on our website at advanceautoparts.com. Also I'd like to remind you that it is our company's policy to not comment on rumors and/or speculation, and we continue to follow that policy throughout this call. For planning purposes, our fourth quarter earnings release is scheduled for February 7, 2013, before market open, and our quarterly conference call scheduled for the morning of Thursday, February 7, 2013. To be notified of the future dates of our earnings reports, you can sign up through the Investor Relations section of our website. Finally, a replay of this call will be available on our website for 1 year. Now let me turn the call over to Darren Jackson, our President and Chief Executive Officer. Darren?

Thank you, Joshua. Good morning, everyone. Thanks, for joining us, and welcome to our third quarter conference call. Before I begin, I'd like to thank our 54,000 team members for their hard work and focus on delivering great customer service. Their determination provided us much-needed momentum during the quarter. As you've seen in our earnings release and as we indicated in our prerelease last month, our business and industry continues to face weak consumer demand in both DIY and Commercial. Additionally, we continue to be impacted by varied geographic performance with softer sales performance in our cold weather markets. Consumers still face high gas prices, which increased $0.49 a gallon since July and averaged $3.73 a gallon during the quarter. We believe this volatility in higher fuel costs definitely played a role in consumer behavior and spending in the quarter. As we stated in our second quarter call, we anticipated that the market would be challenging and that demand would continue to be weak. However, our focus has been to improve our sales trajectory in the face of near-term decelerating trends in our industry. As a result of these efforts, our comparable store sales accelerated nearly 100 basis points from the second quarter to the third. Our quarter-over-quarter improvement was principally driven by our Commercial Business, with accelerating comp sales growth each period during the quarter for our Advance stores. Our Commercial business had improving trends in both transactions and ticket. Our third quarter transaction growth sequentially improved throughout the quarter. While our average ticket in Commercials still faced declines year-over-year, the decline was more moderate versus our second quarter. Similar to our second quarter, the average ticket decline was principally driven by a mix of products sold, namely, the impact of weaker maintenance category sales and higher promotions. Further…

Thanks, Darren, and good morning. I'd also like to thank the team for their hard work in the third quarter. I'll provide updates on the work that occurred during the quarter as well as update you on our initiatives to support our superior availability strategy and new store growth. Despite the current softness in some of our major markets we operate in, we continue to focus on providing our customers with the best end market availability and consistency of service, both in order accuracy and delivery speed. As I'll share with you, our focus continues to be on the expansion of our hub network, the continuous upgrade of our parts in our non-hub stores, the opening of our new DC and the implementation of our daily replenishment capability, and the continued growth and rollout of our B2C and B2B e-commerce platforms, commercial diagnostic tool and our electronics part catalog. During the quarter, we continue to expand our hub network through new store expansion in the upgraded existing stores, which are strategically positioned to operate as a hub. Our focus continues to be on strengthening our availability of both maintenance and failure parts, as demand for these products will increase as the average age of vehicle increases. During the quarter, we added 8 additional hub stores, bringing our hub store count to 328 versus 288 at the end of the third quarter last year. We also upgraded inventory at 363 non-hub stores during the quarter. As scheduled, we've begun our first outbound shipments in September from our new distribution center in Remington, Indiana. As I mentioned before, we're very excited about this new facility as it will be used for a model for our future in terms of automation, which will greatly improve our productivity and allow us to replenish our…

Thanks, Kevin, and good morning, everyone. I'd like to start by thanking all of our talented and dedicated team members for their commitment to serving our customers as we navigated through a challenging third quarter. I plan to cover the following topics with you this morning. One, provide some financial highlights from our third quarter of 2012; two, put our third quarter and year-to-date results into context with our expectations and key financial dimensions we use to measure our performance; and three, share with you what we see for the remainder of 2012 and insights into how we are thinking about 2013. As we shared in our October 22 prerelease of our preliminary financial results, our third quarter performance continued to reflect ongoing softness in our colder winter markets driven by the lingering impact of this year's milder winter. In addition, our tough economic environment continues to impact consumer demand for auto parts as evidenced by softness in both our maintenance and failure categories. While sales trends improved from our second to third quarter, we did not achieve our profitability expectations. Our profitability shortfall was driven by deliberate decisions to improve sales trends and position the business to capitalize on the solid industry fundamentals we see. We targeted areas such as store labor and seasonal advertising to get back to positive comps sales growth and improve our market share. We also stayed the course with our planned investments in areas such as Remington DC and commercial credit in-sourcing launches, inventory upgrades and more aggressive store opening plans, including our new market entry into New York City, which is part of our new store opening plan in the fourth quarter. While we did not achieve internal expectations, we were encouraged by our sales improvement from our second to third quarter, primarily…

[Operator Instructions] Our first question today is from Greg Melich with ISI Group.

I believe in your comments there, and you mentioned that you expect to carry momentum from the third quarter into fourth quarter. When you talk about that, is that something that you've seen already? And when you think about momentum, is that the sort of 100 bp improvement that you saw from the third quarter to second quarter?

Yes, Greg. You were cutting in and out. I think what your question was our comment on business as we went throughout the third quarter, as we saw sequential improvement each period in our Advance stores, particularly in our Commercial business. And our glimpse coming into the quarter as we expected that to happen, I said in my prepared remarks, inevitably, Hurricane Sandy, which impacted about 400 stores, now we're up and running in all but 2 today, certainly gave us a little bit of a setback. What we've seen before is that as FEMA money comes in and insurance money comes in, that tends to bounce back. Now the Northeaster was a little bumpy, too. So we think if that settles out, those trends will continue throughout the fourth quarter.

And I'm very hopeful this is better.

Yes.

So that when you talk about momentum, you're talking about that 100 bp improvement that you saw in the third quarter. You think you can have a similar improvement into the fourth?

Yes, we didn't quantify it exactly 100 basis points. But what you should have taken away from it is that period in, period out, we're seeing improvement in each period. And as we entered, we would expect that to occur in the fourth quarter, too. Whether it turns out to be 100 basis points, we'll see at the end of the third quarter.

Our next question is from Dan Wewer with Raymond James. Daniel R. Wewer - Raymond James & Associates, Inc., Research Division: Darren, over the years, you and other CEOs in your industry, have talked about the rational competitive environment. And the fact that promotional pricing doesn't drive demand for auto parts, that's driven by failure rates. Curious as to why you now think that promotional pricing could make a change in demand, and whether the elasticity turned out to be what you thought it would be?

Yes, Dan. This is Kevin. Essentially, as we were trying to improve performance, we were looking at various elements of our business that do, in fact, respond to price. We have a fairly material direct mail program, and the offers that are in those programs vary from period to period based on expectations. And we took a more aggressive posture in the quarter and got material results or noticeable results. And is that what the general DIY consumer reacts to? No. But there are price sensitive or price-conscious customers that do respond, and we are able to tailor the mailings accordingly. On the Commercial side, again, it's -- if you look at the customer response, price does not show up at the top of the list. But there is some level, especially on the chemicals business that we provide in or shop supplies, other than the fact, our -- have always been relatively promotional. And we leaned into some of those areas. I don't know that our general belief on the industry has changed. But in an effort to essentially turn the business around, we adopted a posture in the quarter that's leaned more into some of those categories.

Yes, Dan. Maybe to build on Kevin's point. I would say that part of our research tells us today when we look back 5 years ago, I think it was roughly 20% of our DIY customers started out online in terms of their shopping experience. Today, what it tells us in more recent research is 55% to 60% of those customers are really starting out -- starting online to understand parts availability, price, location. And in that same research 5 years ago, price was still in the top 5, but it might have been #5. Today, price has moved to #1. And so that doesn't necessarily mean we put everything on sale. But I think we're more targeted, as Mike said in his prepared remarks. Deferred maintenance, we were at AAPEX last week, and it was ASA said that number had risen to a record level of $68 billion now. What it says to me is that we have maintenance building. And to Kevin's point, this quarter, we targeted things like batteries. It's intuitive, given the heat that we had over the summer and even in the quarter. As we go into the fourth quarter and the first half of next year, increasing our awareness, not necessarily taking down the price, is going to be critical in terms of driving out some of that future traffic in the business. And also targeting certain parts of the business, as Kevin said before, in those deferred maintenance categories just spurs some demand. So it's not a fundamental shift. But I think it is a recognition that we have maintenance building in the system, and we want to be on the front end of some of that awareness and traffic driving. Daniel R. Wewer - Raymond James & Associates, Inc., Research Division: And just as a follow-up. We estimate during the quarter that Advance needed about a 3.9% comp sales gain for the company to maintain a flat expense rate. And the hurdle point is the highest since the first quarter of 2011. The past year, you've indicated that the next 200 basis points of operating margin improvement for Advance would come from expense leverage. Do you still think that's the case? Or are we going to be coming -- and a lot more reliant now on sales growth rather than expense cuts to drive future margin -- operating margin gains?

Hey, Dan. It's Mike. I think it's both. So first of all, obviously, our goal is to continue to grow our business. So when you grow your business, you're able to leverage that top line. So that will always be a priority of ours. You need to look within the components of what happened in our SG&A. Actually, our SG&A per store fell 1.7% on a trailing 12-month basis. And if I gave you the breakout of the components, I think it will be easier for you to understand. So 25% of that basis points deleverage was just from fixed costs deleverage of things like rent and depreciation, the fixed cost structure. 25% was from us growing our stores. So obviously, we opened up 35 stores. We're going to have one of our largest store openings in the fourth quarter this -- as we look to the fourth quarter, about 65 stores. And then another 25% of that deleverage was caused by us maintaining our investment profile Remington, our credit in-sourcing that Darren talked about, our hubs, our inventory upgrades as we position ourselves for the future. Because we believe the fundamentals are good [indiscernible] We get a more normalized winter, we would expect the business to come back, our east business to rebound. And then the last 25%, and I said it in our remarks, is deliberate decisions we made to actually change the trajectory of our sales. So if you look at our sales from Q2 to Q3, they actually accelerated in terms of they got better, a minus 2.7 to minus 1.8. If you actually look at the industry, the industry got a little bit worse. So we invested a little bit more dollars in labor as Kevin said, seasonal advertising. And we think we changed the trajectory to the industry, but our view hasn't changed. Obviously, we need to improve our profit model, but that will be both on the top line and the bottom line.

Our next question is from Matt Fassler with Goldman Sachs.

My question -- my first question, my follow-up relate to your spending. So you put a lot of money back into the business here in the third quarter. If you look at the incremental spending relative to initial Street expectations and our own and you look at the incremental sales to emerge relative to expectations relative to last quarter, I guess those sales are pretty costly to come by. And obviously, it's not the optimal environment to reap a return on that investment. How do you think about the financial return on this reinvestment of the business and marketing and labor, et cetera? What are the parameters that you used to decide whether, frankly, they're justified? And then the follow-up question just to get it in, your spending per store this quarter was up about 3%. Obviously, that's different from the trajectory that you're implying for the rest of the year, and presumably, for your algorithm going forward. So how should we contextualize that spending level?

Yes, Matt. I'll give you kind of high level, and Mike will give you some of the details. So when we went in to this quarter, a way to contextualize it is we came out at Q2 a minus 2.7 comp. I think we said to everyone on the call that what we're going to focus on, if you think about a Commercial business, in particular, is our in-store labor. I think for the quarter, our comp labor hours were up a little over 1%, and those related to service levels. And when I look at our comp stores and comp transactions in our Commercial Business, again, they were up low-single digit. It's actually improved off of the Q2 trends. And that's actually us doing more business, building relationships with those commercial shops. And those things, I don't think get measured in the period or they get measured necessarily in the quarter because those commercial shops are going to start doing business again in terms of that $68 billion. In order to get that done, we get 338 upgrades in the quarter is my recollection in terms of inventory added to our hub stores. In particular, took advantage of the 22 stores that we didn't plan to acquire in New York in the quarter as well and opened Remington, which put some pressure on those numbers. And for our business, the way I thought about it is that absent making those investments, one can make an argument instead of doing a minus 2.7 comp, trajectory would have taken you to a minus 4. So there is almost a 220 basis points pickup in terms of comp store sales trend relative to the trends that were out there. And so part of the business, I would say, you got to make…

Yes, and Matt, your comment, we don't comment about SG&A within the quarter. Obviously, we report out on it, but we don't think about it that way. And the reason is so when I broke out previously in the last question, the breakout of our SG&A. So when the sales come back, that fixed costs deleverage will take care of itself. The 25% of that deleverage the came from stores, as Darren says I mean we're investing in stores today that are going to pay as we look out into the future. So we haven't seen any returns from those stores. And then the -- our investment profile in Remington, I mean Kevin has talked about this. It's in our remarks. I mean it's one of the most exciting things we got going in our company, this daily replenishment capability we have. Again, we haven't seen any of the benefits of that, our in-Store credits, our hubs, our inventory upgrades. So 3 quarters of deleverage is all kind of -- it will either take care of itself or it will pay back in the future. And I think Darren talked about the last 25% where the deliberate decisions we made, we think we changed the trajectory of the business and built some momentum.

Our next question is from Gary Balter with Credit Suisse. Gary Balter - Crédit Suisse AG, Research Division: Just following up a little bit on that. It seems like there was a little bit of a change where last year, you were more focused on the expense savings. And then somewhere along the way, Darren, you looked or the whole company looked and said, "Hey, we need to make these investments because there's all this deferred maintenance and there's all this opportunity." And you obviously have the investment in Remington and now more SG&A to set yourself up for the future. What caused the change? Like what was the strategic decision that kind of say, "Hey, we're -- maybe, we're being too tight on expenses." Or how did you change? Could you walk us through kind of how you're thinking?

Yes, Gary. So over the last 4 years, as you followed the story in terms of our transition to a 50-50 model Commercial and DIY, routinely, we used to speak about it in terms of the table stakes in the industry, which was first getting the right brands in our store, getting the parts pros, getting the trucks, building a sales force and even getting a website up and being able to do business in terms of B2B business. And call that the table stakes here of our business. Today, we have more, I would say, insight and clarity as to the next step of our journey. That step of our journey took us from roughly 400,000 a program to 640,000 a program. But we can see, and we've talked about this before is we probably got about 1.2 million of potential that sits around our stores today in terms of Commercial potential. And that 1.2 million, we're going to have to be more focused in terms of the customers that we go after. And there's no doubt given parts proliferation, and you just take import parts, for example, it's going to require more investments in those SKUs. And those customers are, quite frankly, they have more choices. There's more competition in the space. That's not a surprise. So what we're going to have to do is invest in things like commercial credit. We always knew that we would have to make that investment. As Mike said earlier, that's a 50% penetration business for us today. Most in the industry are closer to 90%. We find in order to do business with a larger garages, and that's the majority of the business we do today, we're going to have to target our capabilities, hence bring in-sourcing of credit. Remington, which…

Hey, Gary, just to put some numbers to what Darren just said. First of all, I'll start by saying we have not changed our focus on improving our profit model and building a more cost-competitive structure. And if you actually look at our SG&A per store, it's down on a trailing 12 months to $659,000 per store, which is equivalent to where we were in about second quarter of 2010. So what that means is -- and we've built a lot of capabilities. And what we've done is we've moved a lot of SG&A. What you can't see the SG&A we moved out and replaced it with things like Remington, inventory upgrades, hubs and things like that, so -- but our focus, I want to make sure what you take away from us is our focus has not changed. And what's probably happening is when your comps are negative, it just puts more magnification on the SG&A. But looking at that trailing 12 months, I think, is an important number. Gary Balter - Crédit Suisse AG, Research Division: Just as a follow-up on Remington or the ones that follow Remington. Because I know Kevin made a comment at AAPEX that you plan to build up a distribution center, the distribution facilities. Can you talk about what's coming after Remington and what the cost of those facilities are?

Yes, Gary, this is Kevin. We -- essentially, we're looking at facilities that we have today, which what we had with -- as Darren said, Remington was not a building that we built for this purpose. It was a building that was essentially not needed. It was built in advance of need based on essentially engineered standards that we had put in the existing fleet of DCs that bought us far more time than the previous management would have had -- would have believed. So we're leveraging an existing building. We have 8 other primary distribution centers at this point, and a lot of our focus at this point is there, and essentially taking what we have built in the model from Remington, which was fairly expensive for 2 reasons. There was a great deal of assistance that we needed to figure out how to pull that facility together. We went from a relatively low level of automation to a high level of automation, changed out the -- both the warehouse management system and based on the automation, the warehouse control system. And so what we're looking at today is how can we leverage all of those investments with the fixed-costs structure that we have, with the supply chain that is essentially still using those legacy methods.

Our next question is from Mike Baker with Deutsche Bank.

A couple on the sales trajectory. I guess I was surprised. I think you said that the colder weather markets were still about 200 basis points worse than chain average, even though I think it's starting to get cold out. So I'm wondering if that's surprising, on the other hand, it's encouraging because you are seeing better comp trends overall. So where are you seeing those better comp trends, if not in the cold weather markets?

Yes, well, just to reiterate what we said in the prepared comments. So the northeast, where we have a dominant store footprint, those trends improved nearly 300 basis points in the quarter. In the Great Lakes region, I think we improved 130-some-odd basis points in the quarter. So as you said, we were some of the big movers that moved the trends in the quarter, it's going to be in those. Now we still have markets where, quite frankly, west of the Mississippi. We've got markets that were mid-single digit markets for us and regions for us. We said in our prepared comments the west, as you hike on down towards Texas, that was a good market for us. Even the Southeast, particularly in the Commercial business, was mid-single digits strong for us. But I think the larger picture, when you hear about our optimism in terms of as we look out, what we see are these regions of the country where they tend to be performing very well, and then we see other regions, whether it's the Northeast, we see them starting to point in the right direction. It might be getting cold out. We're selling a few more batteries, Great Lakes, similarly, the Plains, we didn't -- the Plains has been challenging, too. It's another cold weather market out there as well. So our view is, is that cold weather starts to come through and we talk about it in our battery comments, we saw our battery business, which is failure cold weather related, we saw those improve Q2 to Q3, 200 plus basis points in terms of comp sales trends. So I think those are all indicative that when we actually do get to turn the starters, the alternators, the antifreeze and all that tend to work in unison. The other thing that's occurring, too, is we are starting to anniversary some of those year-ago trends in terms of escalating oil prices on the oil price -- on the oil change specials. So it did give us a little bit of relief in the ticket this quarter. And so I think those all position us as we get to more normalized weather trends as we look out.

Okay. And so I guess if I could follow-up on that. If you were to adjust those cold weather markets, which were a couple of hundred basis points, worse than the chain, correct me if I'm wrong, but your comps would still be in the flattish area? Maybe up slightly or down slightly, which is down from where you were a couple of years ago even as the economy seem to be better than it was a couple of years ago. Is there something in terms of the aging of the vehicles, maybe sort of aging out of the sweet spot or cars that can be sold that people are opting for younger cars? Anything along those lines that you think could be impacting your business from a sort of multiyear perspective?

Well, we can all speculate as to what it is. I think the average age of vehicles last year to this year, even 2 years ago, was moved up 6 months. So you look in the larger scheme of things, and you say, is it really going to change because it's moved 6 months? I think new cars SAARs this year at 14.9 million will scrap roughly 13 million vehicles. Just doesn't seem large enough in order to move the iceberg. I think we said this time and time again on these calls is that, it's probably, from our vantage point, as we look at gasoline prices, and again you have to go back to '08, '09 and '10, when we saw that significant move down in terms of gas in the '09 and '10 period, I think we averaged about $2.42 a gallon. I think what happened is that we've freed up some discretionary income. That discretionary income, we could also see -- at that point, we had reached somewhat of a peak in deferred maintenance. It got spent on the car. We get some gas price relief, and I'm reluctant to say we will because it's -- we're no good in predicting it. We thought we'd have relief in the back half of this year, and we're $0.04 higher in the third quarter this year than we were 1 year ago. Now we dropped about $0.20 a gallon in the last several weeks. If we can sustain those levels, I suspect we'll take a relatively constrained consumer still at that lower income levels and give them an opportunity to spend some of those dollars back on their car, because what we can see in deferred maintenance levels is they've reached a all-time high in terms of the numbers that came out last week.

And I would just add one thing to what Darren said is what you're hearing from Darren is confidence and belief in the industry fundamentals. I'm not sure if you were also trying to get your question when you compare that. I mean in '09 and '10, we saw some uncharacteristically large growth in the industry from historical levels. So maybe what you see is a little bit of the industry, from a DIY perspective and in the Commercial, reverting back to historical growth levels, which are still good growth levels but they're just not at the same level as they were.

Yes, Mike, this is Kevin. We religiously track the mean time to failure of every component of every car by major manufacturer. And we clearly are seeing a later point in the vehicle at which key components fail. And it's just a testament to the quality of the vehicles that are on the road. We also see a high age, average age of vehicle, high average mileage per car. And essentially, cars are lasting longer than they did in the past. But the parts ultimately fail. And so essentially, what is built into the trends of the industry is yes, and actually, there's been quite a bit written on the sweet spot. There is a -- there are fewer cars in the sweet spot today than in the past, but the sweet spot appears to have moved. The car, essentially, retains its usability longer than it did in the past, and the sweet spot with which customers repair their vehicle is just occurring later in the life of the car.

Our final question today is from David Gober with Morgan Stanley.

So Mike, I just wanted to touch on the commentary around potential strategies to accelerate sales growth. I know you guys have talked about a couple of things, and I was just wondering if you could maybe bucket a couple of the other potential uses of capital. Because obviously, capital allocation has been a big topic of conversation. But when we look at potential uses, you talk about the acceleration in store footprint, the acceleration in building out the DC infrastructure. What are the other types of investments that you're thinking of and how can we kind of think about that process?

Yes. So as we think about our capital, and as we have consistently shared, we always prioritize growth, both organic and inorganic. So when you think of organic, our new stores are probably one of the biggest uses that we have had on capital, and we will continue to have in the future. So obviously, that's a big area. And one of the things that we shared in our comments is that we purchased during the quarter 21 previous [indiscernible] stores, so that will be part of our new store growth. So that will be an example of something organically. It's been well known that there's been a large number of small and large sales growth opportunities on industry this year. We don't comment on those. And what we do is as we look at our capital allocation and look at different sales growth opportunities, kind of the way we think about it is, is there an opportunity to expand our footprint? Is there an opportunity to support our strategic growth direction, particularly in the area of Commercial? And then is there a way in which we can leverage all the capabilities we built out? So that's kind of the frames we look at these things through. And what we did give you is we just gave you a little perspective that the company -- and I think Darren has consistently said this is a growth story, and we're always looking for things to grow our business and that fit with our business. But we don't talk about specific things we look at. But that's kind of a frame as to how we think about growth opportunities, both organically and inorganically.

That's very helpful. And I guess more of a, as a detailed somewhat near-term question on the impact of Hurricane Sandy. Darren, I know you mentioned the number of stores that were closed at one period. But just wondering if you can kind of refresh our memory in terms of how that -- how you think that impacts results over the next couple of quarters. Is there typically a pickup in business, given that you guys obviously, do you have a fairly high concentration in some of the areas that were impacted by the storm? And I guess how does that kind of balance the near-term -- maybe a drop for some period of time versus a pickup thereafter?

Yes. Well, there's 2 things that occur. As you come in to, whether it was Irene, Andrew, whatever, you see a little bit of a buildup before the storm, so lots of batteries, gas cans go out the door before. There is a lull for a period of time. And it really is connected to FEMA dollars, insurance dollars and the amount of devastation in terms of being able to get to our stores. As we highlighted, there were 400 stores. Of those, the good news is all but 2 are opened today. And there was no loss of life for team members or family in those storms. There will be a delayed period based on when those dollars start flowing back into the system. We would expect, as we approach quarter's end, that we'll see more of those flow into the system. The question will be, do they spend it on Christmas, or do they spend it on their car? But inevitably, those storms do create more wear and tear on the vehicle. And so it's again, a question of not if, it's a question of when. And if the when doesn't happen within the fourth quarter, it will spill over into the first quarter of next year. So that's what we would expect based upon prior patterns of these storms in the past.

I would now like to turn the call back over to Mr. Joshua Moore for any final comments.

Thank you, Wendy, and thanks to our audience for participating in our third quarter earnings conference call. If you have any additional questions, please call me at (952) 715-5076. Reporters, please contact Shelly Whitaker at (540) 561-8452. And that concludes our call.

Thank you. This does conclude today's conference. Thank you very much for joining. You may disconnect at this time.