Thank you, Lauren, good morning, everyone. and
a with results. of our begin brief third Let's review quarter
very store consolidated share. We report to gain increased to same market X.X% on in sales sales period Comp continued billion pleased of X.X% X.X% we increase to the last $X.XX as year. are increase top a
did were average pleased and driven strong in X.X% our and comps with well back-to-school transactions Sport we're the very a House increase results Our by Collectively, increase in a ticket. categories locations. our from X.X% of
Moosejaw. of this points roughly basis noncomp was by primarily growth Our quarter driven XXX sales sales at
safe. our our we be ] the clearance chain year this quarter was clear, profit or anniversary billion in basis margin Merchandise stores, last a improved $X.XX athletes the efforts and and by over driven offset of absent driven points priority, by would primarily in partially of shrink remains our XX basis improvement leveraged last to was have expected, basis and net [ shrink to sales XX.X% This of higher teammates which by XX increase increased merchandise gross points. On third costs, supply points. year. a margin non-GAAP activity lower from as XX was keep headwind, XX continue and To increased Combating to and basis theft invest top points. basis, approximately XX compared basis points
million last $XX.X non-GAAP business increased points basis, SG&A due to basis actions. to This million expectation compared XXX control our and sales, was optimization $XXX.X a year. favorable to benefits targeted deleveraged to discretionary our costs On better-than-expected and actions expense versus from
and year-over-year million reduction investment XX of deleverage investments calls, the value we in better marketing. leverage highlighted in income. have associated to These points changes of in offset well technology investments compensation investments which basis areas athlete of our is of by partially this as with rate, prior talent by other on were base experience As offset as was the a driven deferred our create quarter fully in or plan, expense $X.X our
the retirement Interest our was the same million notes $XX.X of charges this last a interest of decrease the senior million, the of year year those was related to year. period the This exchange expense due $XX.X in primarily to notes. convertible compared incurred savings from to prior inducement decrease and the
same $XX.X by cash interest million income a interest change increase offsets earlier. $X.X expense rates cash from as reduction driven income and our the compensation by in offset other increase higher million mentioned on This in result a year. the million income was increase last $XX.X This compared increase SG&A equivalents. in which income to $X.X plans, partially Other million I average in our of totaled fully was period the of million expense to deferred value $X.X
of share or sales. $XXX.X EBT XX.X% gross margin, along with earnings This of of our to non-GAAP to of sales interest or an an compares EBT $X.XX delivered strong $X.XX. $XXX.X higher by This total, XX%. was net per XX.X% expense, increase net In of share we million Driven XXXX. non-GAAP diluted sales, last million diluted non-GAAP of compares lower year, in a per earnings
organization As support strategies our Lauren our talent, critical in optimized streamlining structure. of better cost fueling long-term overall our and we most to said, growth, design have continue spending align to while organizational our our also
DICK'S resourcing for growth. First, we are
on our discussed we resourcing actions and took have customer as we structure, center. during primarily last change discussed support we third to at our quarter, -- organizational call, our As the
and specialty while will one business support operations taking quickly are forming our Public drive we Lands outdoor to allow the business Second, the that our efficiently. Moosejaw. This practices specialty across operating will more optimize outdoor best of steps to us leverage to and team are growth
moderate actions We improving as from expense XXXX. see started to with costs benefits and into on expect overall help year. to this benefits these These significantly SG&A us to the quarter the in enable SG&A our see reducing XXXX discretionary to will third along actions, during focus compared growth QX continued productivity and our and
associated during charges rationalization of pretax of we $X.XX. million a share This As quarter. the earnings these of diluted $X.X a charges non-go-forward $XX.X Moosejaw inventory-related were These GAAP third included inventory. per write-down million result actions, of with totaling our included in incurred
issued refer table For that this, our to you our additional morning. non-GAAP reconciliation on of release press details can we this
sheet. our approximately Now equivalents of $X.X ended to our borrowings credit QX facility. cash billion on balance no $X.X billion with cash and and looking We unsecured
quarter Our last compared to year. levels inventory of X% end QX decreased
well about Our for excited holiday are we positioned, and assortment season. inventory the our is
paid Net $XX Turning dividends. in to million we million quarterly and $XXX expenditures capital quarter allocation. our third were capital
and X.X million returned we million We through share over repurchases repurchased to $XXX.X $XXX.XX. of shares million at shareholders our $XXX stock price of an also average Year-to-date, dividends. have for
Let me our wrap XXXX. for outlook with up
full As Laura are our outlook. year of QX noted, as our raising a performance, result we
We against particularly cautious, appropriately expectations, our at are well execute the considering in our our confident ongoing are At low what are strategies the to is control. of being we in macroeconomic same positioned key and the time, uncertainties. end
non-GAAP expect now from per diluted of share week. to $XX.XX compared $X.XX we the to continues year, the in our earnings prior expectation This XXrd $XX.XX to For $XX include coming of range $XX.XX. to the approximately
the now basis expectation sales of addition, the of store compared we In positive range XXrd expect of growth X%. we XXX expect X.X% roughly for sales prior the to positive flat week, to our comparable full positive to Including in noncomp X% points year.
this includes week $XXX sales average from million week, is the sales Specifically, which in XXrd than for approximately us. smaller a
midpoint, non-GAAP prior to EBT approximately our XX.X% expected the XX.X%. compared margin of expectation At be to is
We unfavorable higher to include approximate modest basis year, for continues margin the XXXX. improvement expect point shrink to compared XX which in full gross from impact an
versus year-over-year to we basis a margin expect QX QX, deliver gross expansion. our and continued to improvement on margin merch with some Specific expansion
quarter. expenses We expect investments magnitude by strategies. a in on a to continue similar primarily as our SG&A to proactive deleverage to Specific due the expect growth we year, SG&A full third deleverage QX, also the to to
effective outstanding. compared XX is million rate XX% an diluted Our based shares shares average tax to of and our expectation approximately diluted million of earnings guidance outstanding an prior on XX approximately average approximately
between In million $XXX million year. expenditures $XXX addition, we for the expect to net capital
These quarter As $XX we incurred our fourth today's optimization, during incur excluded charges part approximately currently million million the quarter. were non-GAAP charges outlook. of charges business $XX.X in of totaling from and pretax third expect to
we which fiscal to We are be XXXX. completed review, during expect conducting our still business optimization
in Operator, Goods. may Sporting questions. This for concludes open now Thank our for your prepared DICK'S interest comments. you the you line
