afternoon, Thank you, Joe, and good everyone.
believe, of due the We few normalize, its our quarters. we our consumer. three has tremendously, begin on and past over the have that to been in doubling been and to last of inflation eventually impact would years, we this, business demand experiencing a knew Over nearly has much grown business moderation significant size. the
conditions in spring United in camping causing weather quarter first for categories the of States and the pressured record those levels as were seasons, impacted the be Our demand fishing rain to the expected. in Western sales and than also products unfavorable snow by softer
If from difficult increase we with seeing had and in conditions, weather, our spring-related Because pressure managing to traffic merchandising expected store remain and trends, these seasonally the of turning the look we business throughout not are experience merchandise in-stocks continues adjustments categories. spring assortment macroeconomic merchandising beyond to relevant we healthy. making we closely the necessary the efforts, our our are and softness our for while stay ensure inventories
most QX, hunting other our During strong during categories, our outperformed by quarter. of department sales the driven firearm
us better with best-in-class win of capabilities and customers at coupled our omnichannel the to point assortment, firearms service industry-leading allowed Our sale.
we Within lower with reduced sales last the year. on see did compared ammunition margins and department, hunting ammunition
QX as comp an driving XXXX returning lap XXXX, in position pull We expected forward in-stock to we to purchases. customers industry the during to QX
quarter, the growth we on footprint. as stores new expand continued continue store During opened five the their execution team organic and our to
early and XX% and our as ROIC second open we and XX% but wall quarter quarter financial disciplined the holiday We track we navigate through the four in the business. stores diverse have critical It's approach we our to the seeing macroeconomic EBITDA continue flexible slated and stay are the the we in to to that in in as hurdles, pressures a on four grand six hunting in season. enter third stores open
with average invested. through six on even that grand to to new compared be the the pre-and strong to when our by vehicle total over profitability return returns positive deploying years proven achieved have generate five These reaching XXX% to with primary store. costs a including the capital openings stores months capital, store over for the in way five are generating opening associated ROIC new last As
space store and in by participation to competitive opportunities driven ownership, growth firearm new landscape. outdoor continue believe increased the reduction to the considerable due in We a white
This in possible. allows of as to We assortment the a also leverage our way us area sales continue relevant geographic new new through platform, website. reaching to omnichannel fleet through consumers and introduction experience to products as inventory as drive and our adding functionalities invest increase to incremental our customers additional our outside for making seamless wide
We our now digital website. high shop one new existing reach and is use that year-over-year website customers business penetrates of marketing enhanced mid-to comping quarterly to continue a will annual and in efforts on teens basis. the The is positive part customers to entice to both the and
QX our results. to now Turning
new by Our and in opening driven the and $XXX.X the year. first in wet XXXX. over line the last Western was partially were United results of were $XXX.X demand pressures. quarter in declines XX We with million overall and weather by range These compared guidance sales net share. our of per sales extended the winter to decrease inflationary lower QX earnings The from offset primarily both consumer sales States unusually stores for achieved of million
year of to higher year quarter the Same-store product in sales the decreased the first quarter XX.X% compared primarily was for reduction margin mix XXXX. basis with due the was a margin lower Gross XX.X% our ammunition. gross profile in decrease quarter versus and decrease prior sales of quarter, The same fiscal points margins in margins, fishing mainly period. in comparable carry and a camping in which a XXX departments,
million quarter the expenses compared administrative were $XX.X to in million and QX XXXX. in $XX first of general Selling,
year. XX% over the the addition net sales, expenses stores SG&A due XX% higher primarily depreciation in XX year. opened of This to rent, prior expense percentage of new increase of to the from last a the compared was to and first quarter As increased preopening
$X.XX want reported per in some loss Looking to adding I drivers. this share. now quarter. We additional to share highlight some And earnings a significant per color the loss, to
contributed penetration departments our to $X.XX First, and of weather camping reduction and the fish lower reduction in in sales EPS. due to this
additional per $X.XX Next, in our of basis. quarter new the reduced basis. on share the And $X.XX by EPS EPS during interest a reduced year-over-year finally, the an expense on burden store a by expense year-over-year openings increase
take and review and sheet a now will minute I balance our liquidity.
ending inventory quarter was First million. $XXX.X
of high new this the the expect inventory for this to buildup for as year includes summer fall of We stores be year the and be and for products early needed selling much balance this the for the season. to of point our seasonal opened most
$XXX equates of adding our of XX%. as to we XX better a Although terms regional million reduction stores expect This to and with gain improve inventory inventory we and year-end assortments. approximately will we be be efficiency XXXX, during purchase seasonal approximately new
ended as liquidity of with Our credit. a strength to our $XXX.X line on QX million we continues be
at Our QX including end hand was cash total on of the $XXX.X liquidity, million.
quarter our Turning sales are $XXX of now to sales outlook. second XX% be sales with of to estimate our takes unfortunate in to [indiscernible]. rhetoric anticipated This X% second We to is of range consideration headwind year, the net to due in Same-store XXXX to expected second guidance driven sales into quarter of view net down QX order Starting range of the last in $XXX quarter. on million. $X.XX down in the versus same-store EPS the $X.XX. for second X% to the range the in million event a by be political the to the of to be XXXX X%.
Finally, our some outlook. color to QX add to
current X% started to Unfortunately, implement resulted see sales effort year-over-year fishing response the reduction to the and from stores. year, in particularly reduction a our the align during a Over categories, and in demand we consumer softening, navigate further second labor. on This per current pressures of our reducing a business maintain many In camping a macroeconomic quarter, the will of on trends. It expenses continued cost basis. is the and our traffic with costs that financial we this to our as to focused last rigor environment store on reducing stores, the effort store the discipline amount in cost we we slowdown our we headwinds. of critical company-wide continue
I prepared operator concludes any the the questions. turn facilitate That back call now our will today. to to remarks
