The same-store sales improvement of 7.1% (we expected a 3.2% increase) in 3Q:25 marked the first quarter since 4Q:22 that the company delivered positive same-store sales, which we find encouraging. Management attributed the same-store sales growth to higher customer traffic (especially around Labor Day), solid conversion rates and an increase in the average ticket. Written same-store sales were also strong, rising 8.0% in 3Q:25, as design consultants represented 34.2% of written orders in the September quarter. Total 3Q:25 revenue of $194.5 million was a 10.6% increase from the year-earlier quarter. We expected total sales of $183.9 million versus the FactSet consensus forecast of $183.0 million. With a higher-than-expected gross margin, partly offset by SG&A expenses above our projections, EPS totaled $0.28 compared to our estimate of $0.28 and the consensus projection of $0.24. As detailed in Exhibit 2, HVT updated its guidance for some of its operating metrics, most notably gross margin and SG&A expenses, both of which were increased from the company's prior guidance issued in late July. We will provide additional comments, likely update our 4Q:25 and 2026 EPS estimates and roll out our initial 2027 EPS forecast after the 10am ET conference call: (877) 407-0312. We maintain our $35 price target, which, for now, is based on 11x our 2026 EPS forecast of $3.14. Our moderate risk rating factors in our assumption of a profit recovery in 2026, along with HVT's solid balance sheet and healthy free cash flow generation.