Thank you, Barry.
results year, sales sales. in Net $XXX.X in the coupled extraordinarily footprint. million unfavorable with fourth XX.X% top Our reflecting line conditions challenges, spending, discretionary our compared a decrease was the were Western million our quarter disappointing, as $XXX.X quarter macroeconomic winter fourth consumer impacted prior by same-store to pressuring ongoing for across were weather
weather. of warm heavily and business. products the greatest driver consistent nearly were merchandise category's seasonal which on beginning to impacted lack versus impact weather was the certainly year. But important XX%, our categories, down is category, The of each winter which major an this our of of typically that Sales weighed prior the we at heavily our of are fourth the apparel products the XX% provided performance, unfavorable but non-winter down with guidance the to approximately snow quarter weather year's quarter. winter Winter-related was correlated
That XX [ approximately was ]%. category down
Our challenging aspects footwear the and of that levels approximately down of was low the we we face ticket category as was the more category Transactions our such to on down were XX%. and quarter single a approximately mid-teens digits. control, hardgoods sales for the focus down management. the continued business environment, margins, average was have merchandise have XX% and inventory expense down In
were year-over-year Our down fourth sales. shift XX merchandise reflected from which margins margin points, basis the related away primarily quarter higher product winter mix
margins the with our flat year, down healthy higher the merchandise we than that substantially pre-pandemic Although full for levels. margins prior QX were and very year maintained were
merchandise, our most steps to promotional the as was environment. the possible benefit which continue QX, from efficiently the to top inventory merchandise sake taken margins our margins. end to challenging has manage sales align from down year. to as needed part, Our despite the our clearing inventory At not have us we And challenges overly healthy we for line, of to the be with of last very for maintain helped have the X.X%
in facing store This year-over-year labor of our company-wide significant been a by on basis. fourth area costs. were primarily our expense accomplished diligent our of by store reduce managing operating the labor able Another has Despite was million inflation, focus to usage. quarter wage management we $X.X
pressures is challenging benefit given of our from reduced to in versus the today particularly and sales our Expense a has addition, levels operating marketing expense management inflationary pre-pandemic. strengths, spend of focus always been In continued one this environment. important
current trends. to sales Turning
value-oriented core weather pressures, macroeconomic quarter the to first play be impacting to in which to influenced ongoing continue our results. our by volatility in a role Further, sales sales consumer. are continues date Our disproportionately
in quarter-to-date first teens. sales down the low are running Our
weather to with our picked business seasonal quarter of arrival year. start that the snowfall the while sales up clearly January, in In off the In a significant winter elevations in a have got Unfortunately, winter comping many mountains activity. of outdoor difficult the our prior with categories very against February, lack winter team brought markets. and historic the recreational of lower strong that winter other was rainfall weather participation and has snowfall accompanied by sports to impacted in at of
This baseball becomes of category, which course business the important the has been first our in evident over quarter. particularly increasingly to our
we that sales have to some fields baseball value. believe positioned assortment optimistic well We resonate with our is out. pent-up are demand and customers to potential product from for our reputation upside capture the reinforce our We dry as the overall
That uncertainty many wallets in squeeze their persists. to said, that anticipate cautious we will the our their with customers macro spend. discretionary And the feel of continue be and
our ways in controlling committed to landscape in our for environment, challenging but while opportunities sales, profit resilience navigate margins us we our rigorously managing through look merchandise to and we As inventory to These improves. this not seize the measures our will gross our uncertainty, this fortify macroeconomic energize efforts optimizing as dollars also efficiently expenses. maximize position advantageously and remain only
cycle, navigate macroeconomic ample of capital the facing. uncertainty to flexibility have of allocation this are to of to our part financial our headwinds maintain we the continued given As customers effort strategy our duration in efforts evaluate economic the
concurrent from a evaluation, dividend that decrease release, our to earnings share. in today's of $X.XX we quarterly with per announced share per $X.XXX part As
Our to dividend allocation central strategy. been has long our capital
down periodically, both we years, have changing to reflect And circumstances. business over it and up the adjusted
cash stabilizes, the meaningful environment a a providing use balance with to of evaluate maintaining healthy shareholders of continue while sheet our also will we goal return. current the As
to additional performance and that, With XXXX turn Barry Barry? first regarding outlook. I'll it over fourth now our quarter quarter details provide fiscal to
