second quarter good full our guidance will then with for results Joel, the and Thanks, afternoon, year. provide quarter I everyone. begin remarks and my a and the first review of
first XXXX $XXX.X first the XX.X% $XXX.X sales quarter to Our of reported of million for quarter in from increased million XXXX. the
opened of X.X%, growth very Comparable year X-year an our the first a the offset comp partially continue first decline XX quarter last with sales quarter rate. approximate across first and compounded comp locations. XX% On the of pleased total year of to new X.X%. stores sales increased basis productivity annual to new opened X.X% XXXX, new the a XX by by stores since for with XX be a in quarter ticket increase We by this states transaction in compared increased
We increased the X,XXX of XX.X% of million X,XXX at stores first XXX an first the for the versus stores Gross XXXX. $XXX.X quarter $XXX.X of quarter the approximately million profit ended in of first end versus quarter with to XXXX. stores, the quarter of XXXX XX% or increase
XX.X% of margin was versus flat XXXX. first of gross quarter expected, As the
of XX costs and higher last year's basis increase quarter, first by versus to expenses. driven a percentage well primarily the store-related SG&A a XX.X% for first planned increased as points As as approximately certain XXXX quarter of in expense sales, marketing
expected. As at approximately quarter a margin as finished first $XX.X points in result, operating profit million $XX.X the operating versus of X.X% XX to basis while million decreased XXXX,
rates. compared interest XXXX of quarter our $XXX,XXX rising income as other investment benefited from in the was of income expense $X.XX to a million Net first as interest net
primarily due in accounting versus XX.X% Our rate to XX.X% quarter from for of benefit XXXX. first was higher year. to tax decrease XXXX this quarter This was effective of the first a year last share-based the compared
income year last $X.XX of year. million the diluted of to was a XXXX first benefit million share-based was the versus approximate to $X.XX Earnings income per quarter compared quarter Diluted $XX.X first diluted compared accounting earnings the last per for share $X.XX share first Net for year's $X.XX. of quarter EPS of benefit included $XX.X XXXX. of net an approximately this in
quarter per-store first in-stock the basis end equivalents on year. as quarter outstanding line inventory $XXX first ensure Average approximately of at million $XXX of with the last and Inventory X% first first million last our to at versus year and on the $XXX no quarter earlier quarter decreased million the in cash cash, the we positions. $XXX nothing to year debt, ended credit. inventory including a of the last We strategically ordered million was investments as compared end healthy
We be quarter. for into of inventory are season the to well pleased and and our current second summer the level positioned with the going quality expect
turn guidance. I'd to our Now to like
quarter period as of the of quarter X-year quarter guidance, quarter XX% new to are $XXX second annual sales XX XX.X% growth for assuming XXXX. XXXX, million this in For increase second range to of and expected the rate of approximate compared million, comp in midpoint plan the sales second to the increase stores since the opened expected be stores the X%. an the open of compounded show to in XX an are a year, X% range sales second to XX.X%. At in year $XXX We are this net to total to last approximately
of permitting this As cadence primarily reminder, was new opening of a landlord year, due first annual to the half X/X related and stores slower delays. our in of the
of year to deleverage the XXXX the marketing at lower spend operating basis only second are partially incentive quarter costs We a compensation in shift XX as of this points midpoint normalized expect approximately X.X% by expenses. in freight of offset or more margin X.X% and
share per in million be impact quarter Net second to for of which be Diluted approximately second to expected expected be for XXXX. are earnings are in does fiscal from $X.XX share second the income taxes any the to interest share-based $X.XX $X.XX XXXX expected approximately accounting. and is earnings diluted quarter potential XX%, include $X quarter per versus to not the of
full Now year. on to the
We margin generate slight previous the of tightening expect with EPS are guidance, we that midpoint midpoint, at would range our consistent this still and we with our the guidance operating expansion.
half the comparable first half expected sales for total are a low currently Our the a the of teens high grow basis, in in the on single-digit second with of to assumed range. a still increase the to X-year in sales CAGR second year half year the similar
year week, in full approximately XX-week EPS. $XX which approximately million year in XXrd to is guidance a includes on to noted. XXXX $X.XX add unless expected will remarks and the refer My otherwise sales Fiscal
to expected billion, X%. to of XX.X%. in billion range of are X% expected to increase the an in to sales to XXXX, the comparable is For of $X.XX sales XX.X% The increase be be $X.X range
to X,XXX over to end We the over approximately growth year unit now stores of stores with plan XX%. and XXX open or new
the free lower significant margin lapping slight part are onetime we in put this a and increase year. in cash leverage cash higher lower we is still in place and strategies incentive income year-over-year generation, strong rates, For our interest at freight net by midpoint full our last flow costs, of certain with With year, compensation balance year. in assuming the interest healthy cost driven management guidance offset operating the by combined
in the year rate of approximately a of tax not full half effective XXXX of assumes rate does year expect the to include million, over a higher of the XX%, a and effective representing We accounting. potential Net impact is XX.X% income share-based range of expected approximately to to rate million growth be future any $XXX XX.X% XXXX. approximately which for XX% tax currently for second $XXX from
to diluted expected share be is future year-over-year XX.X% to Diluted earnings earnings comparative share range XX.X% per be XX.X%. impact share implied per of $X.XX, repurchases. growth not This On in from for $X.XX growth guidance the are basis, implying any a to of does XX-week to to potential include XX%.
respect spend tenant total Georgia over CapEx, in opening XXX retailers, recently approximately to of the from acquired CapEx, XXX and excluding impact distribution store in This stores, infrastructure. With our million over expansions and investments we now $XXX in those plan commencing including systems Arizona reflects bankrupt to of and gross allowances. to the new in converting centers locations,
within quarter backdrop. difficult and macro In the range our summary, against we first the outlook results delivered of
and As Joel focus also progress against again This testament mentioned, for executional extremely the am of capabilities operational we grateful efforts. I important is objectives. key our made a and teams strategic once their to
the our Operator? for please I all details with would guidance, For other earnings call to over operator release the to and that, refer like results question-and-answer turn to the press and our session. -- related to back