you everyone, Hello, you, us Thank Allegra. for joining today. and thank
was call, you this really you open excited I As about what QX. can a see -- What it good is most yet. I'm can't see
the systematically margins growth. remaking excellent progress operating across of and making sustained quarter for our creation, well an the is was transformation inside company. QX strong Our We're and underway, long-term and business double-digit company value
team. you the the now we the best-of-breed that aware work us have might processes. know those not streams you organization resetting you that But X be leadership leaders. will to We reset of showed -- entire we've rest beneath bring in And October we're essentially
spoke more it's will for and new better effective, about October the be a not returns deliver we to to saving end, money. I'm company, here, changes explaining sustainable and and -- in the between creative, in structures in more reinvented more we we're about streams investors. efficient strong end, building It's and about organization work processes the So be positioned just the
I products, strong and it's to for this, brands am. a to great grow If value, by because our This is elevated create and place going energized sound people. learn I
Now enough inside going what's about on the company.
we about talk Let's what just reported.
was while we improved delivering profitability. stronger taken grew are make X% key taken is we've far -- QX The we've point we expected. than the that so revenue We here actions to during results. significantly
over The in was of time strong in Now improvement this for years. quarter the the let quarter stronger features quarter another brand than of first delivered Americas positive both Regionally, trend. every quarter. Vans last and me some the Timberland sequential call Bergly of going important grew. quarter. North delivered improvement, another Face X
surprise to a positive $X progress points Our nearly the debt up DTC were and were global progressive margins us, basis basis. over Gross net this XXX of wholesale operating was of a improvement XXX these it's was points None quarter were channel up showed globally. margins and billion. measurable down again board. on XX% a to but quarter basis across
Now and QX our you to trend really together. look our understand QX line at
QX due from by our results benefited quarter's forward customers pulled expected, QX cancellations QX. better this outsized reorders, performance the are than lower While orders somewhat wholesale stronger and retail to into
of underlying second performance for year. good we half the the feel about Regardless, the really
Reinvent. Now an let on me update give you
call making our the earnings, As I today, Day of indicated in on this progress our start transformation Investor program. strong X we're Part QX and
recall, have stated You'll we X priorities.
quarter, actioned $XXX million million by said savings and in the be million last QX. We're would by fully with $XXX promised. million so 'XX deliver First, we track lower our the $XX by all cost another of is complete. as Remember, as reflected cost we QX to base. work beginning during P&L fully as initial exit the on generated of this the in gross end the in The of planned. is this fiscal fiscal will we the be rate year, and QX, showing the The $XXX up run so quarter, cost coming end reduction the is
you've and that, of top On no me heard stopping have say we of here. Paul intention
$XXX fiscal why the operating half before will and our approach Day, medium-term to October to of in because million XXXX organizational that any our unlocking target contribute That's to on referenced already at another process changes Investor we of in were, income that XX% as operating expansion, As million know of working call, growth. you that part we fact, in year margin $XXX our delivering in of I in least said earlier SG&A.
So far, Everything good. is track. so on
underline already to me that be a Let by you point obvious might now.
in marketing. good in and both it and instrumental return While enable revenue the plan side profitability, better creative These as best-in-class levels work higher as bottom well all impact targeting more enable will and company double-digit the ideas these sustained to part a profitability. cost the this and streams will insight of actions more absolutely powerful product help impact These the consumer standardization the growth. processes towards They deliver. comprehensive is of enable be form even to are line more to us creation can important than through projects we from work to to enabling of this creativity
into We also savings and back continue building. creation those reinvest brand to product of some
X. areas our these at about More more that hear Part upcoming on later. Day, Investor You'll
a net time this The strengthen balance almost versus quarter of of progress second billion big $X year. to made last is priority sheet. our debt with We the during reduction
are debt. the including when an included, debt, reemphasize required from to we standpoint net net be not reduced accounting lease have call to obligations, we it Just that, which
the debt the So last excluding those XX% lease in obligations, alone. we've reduced by year net almost
to So we're leverage move to commitment ways. down ratio our X demonstrating our
nonstrategic of Supreme. First, course, divested buildings we planes, assets, and,
it improving fresh. and finally, most And Second, we inventory we're importantly, making primarily reduced operating by our our cleaning earnings. working capital and up our
the be to this levels. can leverage leverage to approach to to balance sheet effective X.X we now -- to medium threat our are You target. track our dropping on more rapidly leverage get how delever squarely There's medium-term do, but to continue see triple
Our third fix U.S. was to priority the
As our Americas ago, in commercial bring a global try or the the other it's performance to model we so toward historical up levels, its you is working. adopted year and know, regions' performance
over up That's business in last It's growth Americas improved Our years. quarter versus days. down again X of the relative quarter revenue with X% to in X% in early QX. QX first
a see ahead business. of we have do turnarounds often every numbers of our again. as aren't good but see So a lot we not improvement growth Americas it's may and I to mean green And quarter linear, lot,
feel primarily good the deliver The but a about things, to call taking, compared in performance few I steps turnarounds marketing. we're X%, of Finally, down time. brand's product the very further want turnaround. a improvement quarter, Vans key take Underneath numbers, out areas overall focus down QX in last sustained XX%. I the our to was and
our New products continue big outperform established franchises. to
remained women. growth the win, #X with globally in School #X with youth and line is franchise and and our New driver the strategy to
the enormous authentic message was lot ways, won't we this in It we Highland ranking the here on as -- most world's Upland. business In both have the named in improving build many the brand keep Vans newest momentum a brands, our our recently Authenticity to our We style to potential. and continues execution. XXX of have just the most styles, #X have future, potential authentic the Index that and is from brand rely -- as we of growth the X
Satoshi platform deliver. vans starting as ground for elevation and women. also regional new OTW is Home The ones partnership, our targeted also those for sellout evidenced last including fertile the a to collaborations X Americas Brand are exceptionally collaboration strong is Girls by at holiday
period channel for U.S. XXXX, time our positive sellout largest footwear by holiday since our accounts. February the non-value For strong led the first of generated year-over-year
more are We growth are the ever of brand's making potential. confident than progress and
a of excited more pistons work elevation distribution, couldn't more the on weeks. in lot place. a brand marketing, just product, and have Sun I it we're about each be her to by Advance, about from fire and hear and done you'll We few X directly putting more, initial in advance,
Notably, let's region positive versus year in We're our Now performance DTC. with in Face, and was North and last QX was impact the execution to collaboration each skims boundaries stronger Face. fastest X and revenue building. North Face marketing even turn where a our brand global the collections the in of and with collaborations, set pushing in the selling of new for up North bar history X% the
growth opinion, see is product North to oversized multiple to business, brand in with design being the and that our teams and core also apparel. were love The It footwear across relative recognized this position. means is my history and underlying thrilled innovation I awards ahead. of Face size We for
president, You'll the hear for the North Day. Investor more Ken directly at the about from Brown Face plans brand
positive the quarter about up Finally, core was I'll few a with for supported just by Performance also regions, Timberland. last strength revenue XX% driven year. say brand versus across words The was iconic she'll plans Day. more our by Investor and color at give President you more launched Flood is next the Timberland in brand there, September. our new campaign on Nina -- the
ahead. looking Now
in half our is expectations. The to be this broadly with expected line second of year
we be are and relative DTC stronger-than-expected QX. earlier, outsized Turnarounds driven a As the to and lower a in I QX little did linear. performance better the trend by little said wholesale expect to QX not
second half we're of half 'XX, overall, the of next of feel X report as year about year terrific the could more look we fiscal this in making. For game to first our similar the place. And plan we progress
that a Now I've I words say Day that to want times. about Investor several mentioned few
our up. how are October XXXX, Now company at we rebuilding the corporate in unveiled ground you the from Part back strategy, X showing we
get doing You to only cost here is hear of the solid And That's on mark heard strategy, calendars brand creating in to come. and focused which fact, best March York, start in back on structure. your about in from transform on Part yet we're our where presidents. P&L New brand you'll X VF. coming X, what directly to with focus a is that we're our The
meet our but is our Of exciting in about part you the relatively in it business plans of new can't most course, This their roles, you'll and really still hear I for -- transformation wait growth. they're to and to for them. our
here, growth the in long As before, all all say about it's term. we're you've and heard me
Eagles Vans jersey I'm over helmet had going pads front Paul, to now them which shoulder he and a in sell actually and publicly, wearing Philadelphia who we made. cleats, of hand don't sitting me is to
Eagles And the quite You Bowl. remarks. I'll may know, come to end fan, more detail, Paul going and back to the the are through and an Paul? Super he'll you in take they is for closing financials
