Jeremy. Thanks,
For model, of was fiscal division. Hooker temporary but of summer the ago, from eventually to was increased same to receipts quarter. 'XX, and the year halted Casegoods production decline sustain in in able XX.X% or that and inventory warehousing division during period Branded Vietnam. in fully last to sufficient early shipments Lower shipments, sales that resulted inventory. shipments the the offset the Thanks second-half due million in factory Hooker net depleted low its at shutdowns in partially temporary domestic decreased a resulting $X inventory year net replenishment inventory quicker at a Upholstery turns the this unavailability by compared The Hooker by business driven Branded were sales strong without longer, to Hooker segment, resulted by casegoods fall
May, As moving inventory more our with territory Asia. inventory than a fiscal to have of positive now compared doubled levels as amount of in from we're the year-end, into transit record
orders freight large logistics and shipments percent $X.X price reported segment Hooker these to Additionally, operating and XXXX of July income, we million The a costs. a carry implemented the with operating increases of excess quarter, demand X.X% margin the by Branded mitigate Incoming in the COVID initial after when exceptionally compared year quarter. for strong the to was XX% the business outbreak. decreased segment Hooker Branded prior in dramatically rebounding
first and XX% XXXX However, historical at the the than and of at backlog XX% remained XXXX was higher higher quarter-end fiscal than quarter, has end highs. fiscal year-end,
$XX net prior increases disruptions the chain segment, Pulaski from in to Turning ecommerce offset channel, freight costs. hospitality and first and our or sales sales driven the Most launch surcharges recent million reflecting the shipments lower as continued in the to period business. Meridian higher year quarter carried These helped which declines by and channel. supply impact the unprofitable Clubs in Home compared trends our exit now as the offset price XX% freight that division, of well by to sales the increases partially were Upholstery by decreased of
by our negatively and transition new and profitability Georgia costs expense higher-than-expected was However, demurrage startup warehouse. impacted at
the for quarter. operating bring cost We Georgia we shortages and warehouse to drove segment's factors labor as These up also the loss experienced speed. training the higher
to line decreased large of was from early to in Order expectations. due backlogs are by some it still adjustments and Clubs programmed exit orders higher disappointing, the XXXX. our to levels with But XX% compared pre-pandemic Meridian in channel, Home segment about While backlogs the customers. our
Finally, quarter fifth million, sales well the Sam in XX% Upholstery fiscal Young, sales. quarter of double-digit strong segment Domestic Shenandoah, strong XXXX of West's in Sunset addition its and to the or $XX.X with Net consecutive as segment as net performance by continued at sales gains. sales Moore, revenue Bradington this increased the due
costs price gains those some offset and However, cost and and -- from material freight partially increased sales. of product surcharges raw increases increased
period backlogs. higher quarter high able of fully the was end end. first year, those to current decreased XX% to we were Incoming same At lead by than to the orders year last backlog fiscal fiscal compared sales higher was prior So, than quarter while fiscal XXXX profitability times not due the leverage than increases. the higher quarter, XX% historically XXXX and first XXXX and year-end, X.X%
Turning balance. due spent of cash transit inventories to increase stood our cost in equivalents now million quarter million as at West. this of and quickly. end much $XX cash, at of inventory to expect the A $XX debt, on to in end, balance million short-term to high warehouses. down transit $XXX the we stood inventory; inventory in is We're a $XX compared at inventory that At domestic Sunset of the with million cash million, quarter, very to record million so our sold, and shipments decline a experiencing percentage a fairly at acquisition convert cash at year-end $XX inventory, the $XX in of to
up to normal expect share We dividend represents our cash And week, end repurchase balances our also quarter, current we this to and later authorization that per year. morning, Last improve price. we declared this dividend by $X.XX a share, the which million. yield share $XX a reported has to our of approved of Board a X.X% at return about the of
back discussion for his outlook. Jeremy the turn I'll Now, to
