Thanks, Alan, and good afternoon.
year. for performance versus financial comparisons otherwise fourth are our year the prior All full through walk will stated. unless quarter comparative period the and I
X.X% in Starting revenues shop in to XXXX. total minus million driven by which X.X% operated flat fourth at point a fourth predominantly the XXX were with same-store quarter improvement quarter. in third sales the closures the Company represented basis the from nearly quarter, top-line, $XXX.X decreased
traffic average by X.X%. same-store sales, X.X% of down Breaking by a our check offset grew decline
year, shop million driven company to predominantly operated full and $XXX.X revenues by decrease X% closures. in same-store X.X% sales the a For decreased total
grew average check by by Our X.X% offset of decline a X.X%. traffic
and remaining new any. opened During seven including shops, opened international company including company we shops new XX shop one our two and quarter, two operated franchise the eight In shop shops two operated close we shop company and fourth shop and closed franchise shop. including franchise one domestic we not the operated we did nine franchise year, XX and
sales prior the XX fourth was mixed XX% sales a profit of sandwich price sold XX.X% percentage level XX.X% basis shop decrease shop a and in driven rate, goods year. a to for margin Our by as in of was Cost the fourth of shop increases lower points quarter discount menu shift. as compared primarily sandwich of the quarter,
driven the XX.X% and sales basis wage For increase points roughly by was of XX quarter, inflation labor deleverage. an
year and sandwich profit XX compared goods in basis as increase by prior offset in points XX% was year, discounting percentage Our shop a sold the shop increases, XX.X% inflation primarily menu product level the shifts. by sales margin was partially the XX.X% lower year. of price for of of to as Cost driven an mix
wage inflation in an increase basis XX XXX favorable and XXX in points Other primarily deleverage. basis was Occupancy of to fee. year, due by third-party the the XX.X% in XX.X% increase For basis XX.X% sales a expenses occupancy quarter, was accrual. fourth of points operating driven to due roughly delivery were an the points labor decrease of quarter, expense adjustments
XX the to increase XX.X% occupancy due were an For an basis operating delivery was due the expense sales points XX.X% XX primarily basis fee. points to deleverage. expenses third-party for Other of of increase year, year,
decrease quarter advertising primarily general Our basis million XX decrease total of expenses or of $XX.X administrative approximately by a fourth spent. in points. The pullback XX% the and driven was in revenue were
total For XX the basis points. and increase This decreases year, related XX.X% incentive and costs, we administrative expenses reported was in that an of by stock-based consulting million compensation. full fees project previously offset Aurora or restructuring our million performance-based of revenue, $X.X approximately were $XX.X compensation by to driven increase of general
of pullback we the million of closure dollars in $X.X indication costs for proxy-related costs, consulting G&A, was due costs, to project relative is the which business excludes the year restructuring costs, expenses X% $X.X CEO transition down in store last total which and primarily fourth to quarter was core the Adjusted revenue, in our which Aurora advertising. million G&A in best absolute and believe or fees
which $X.X year. last million G&A For the revenue, full was was year, X.X% relative in or $XX.X to of dollars million adjusted down total absolute
manage tightly expense. control our to G&A continue We and
the shops for lower Adjusted compared to $X.X the year from and million fourth in compared Adjusted EBITDA was forecasted of driven came range quarter million was $X million end EBITDA at sales and decline was we company of quarter. for lower operated goods cost our the last sold to of $XX by labor. inflation guidance million. as $XX.X The and
had $X.X we the million, of income tax During during we million income had the allowance tax includes half year, were tax year. million, $XX.X in in expense quarter, recorded valuation the charges the expense which first that of $XX.X
approximately million program common shares had board available purchased XXXX we in At authorized the $XX.X roughly stock $X.X of XXXX, total open During for repurchases. the our end Potbelly market of of million. from a to XXX,XXX we
maintaining sheet We and and our initiatives. zero We remain cash million $XX.X cash are a ended with quarter to on balance with balance comfortable fourth debt. and focused liquidity fund strategic of our ample the
my today XXXX. remarks review with outlook our of for prepared a will I close
have sales Aurora the through and the into QX same-store operated in full shown currently to our For increase our coupled QX X.X% with initiatives project year, with strategic momentum expect X% company we efforts.
we confident comps our positive low to guidance we making. which a allows single increase for Inherent say that an can to assumption XXXX. are in expect we investments are revenue for fiscal digit be the is produce We in
decide last of test. to adjusted expected in range is results in we're the range $XX.X Aurora year, room $XX.X between leaving flat is our of accelerate Top-end depending on to certain case Adjusted EBITDA elements project EBITDA some so million. to we million and
of which to similar is to Cost projected goods and are range between last sold year. XX.X% XX.X%
of goods by We earlier. expect a the cost driven slight our investments I up tick total sold mentioned in
a and Additionally, in renegotiated slight with our new food contract main we increase supplier costs. expect a just distribution five-year
to the revenue However, expecting should cost guidance we that single-digit gave keep this you'll we the low on are similar ranges with year. our notice metrics growth guidance last
percentage Labor sales XX%. of as between to XX% expected is a be and
million. to Adjusted slight is compensation. expected G&A Included between range of to in We guidance, increase costs expect in a higher $XX a million labor our our as it's $XX and wage result G&A expense inflation. stock bonus adjusted
depending [indiscernible]. between expect certain $X advertising expense note, of $X million be to elements on million and our Of we
Specifically, is QX, to last tick and approach. line up but that like we out spending fairly marketing again, QX expect in point disciplined with in remain we I'd will a sequential but advertising year, in this guidance our
end X opening operated be our shop XX expect shop operated XXXX all company last opening shop one including operated total which three are currently four carry to company XX already total to of QX. opened the shop a strategic of which closures We open openings, XX over shops. from by the shop company are of for We of the closures, project plan, four will and
previously location as like have discussed, any plans remain said airport to company in As open select shops open available. refranchising unique unless to we becomes operated we markets. last not And a an opportunities we other did quarter, currently
expected million and capital between million. be $XX our Lastly, $XX expenditures are to
the turn now for back Alan his Alan? call closing to I'll over remarks.
