about some review going on I'm providing year. provide we're perspective quarter our May trends, good an to and of thinking start first a sales Rick update then before full with our results, the on Thanks everyone. how afternoon I'll
quarter net more first favorable The in down XX.X% Europe were by for and Australia. XXXX. results of sales for $XXX.X sales America were decrease business million the the First XX.X% down from $XXX.X our quarter sales Comparable quarter. was in million, offset by North driven
softer we During the was pressures related primarily driven XX by quarter, negatively on continued sales, the to by inflationary currency. basis in see changes also Growth ongoing points unfavorable to impacted consumer. foreign
million, XX.X% year. of sales a From America XX.X% net Europe which $XX.X consist net and perspective, from up XXXX. of North Australia, regional sales, from $XXX were last a international Other were decrease million,
America X% XXXX. international impact North decreased and were the North translation, sales net XX.X% currency the XX.X% down sales foreign other of XX.X% Comparable with comparable for America XX. up and sales Excluding net increased compared other were for international sales quarter. for
category from a accessories, the negative sales being down during categories prior hardgoods, our were quarter comparable by in the most followed women's. men's year with all perspective, From footwear, and
increase Total an by were units dollars transaction. per for partially transaction average quarter, offset up in in driven per by retail, a decrease the unit
million of $XX.X was million quarter profit in year. gross first the last to $XX.X quarter compared First
basis sales a in Gross profit XX.X% by XXXX. as gross lower was driving fixed quarter, the quarter deleverage in of The for the in decrease was of compared margin quarter point XXX first sales XX% in the driven with our costs. percentage primarily
XX cost by points, XXX buying areas points, shrinkage our The points, cost on points. increased by decreased by increased sales web deleveraged margins inventory points basis XX store basis by shipping volumes, XX basis change by key deleveraged in label XX points, costs distributions costs by were the basis basis as driving XX private and product occupancy follows; and lower basis deleveraged
quarter a million point due increase lower year from as the compared to sales that following; SG&A expense in of XXX resulted The rates basis quarter expense of XX.X% wages German increase in of subsidy one-time well store point operating both $XX.X in basis basis due wages, first net compensation, sales wage basis net annual of period. non-wage expense, to XXX incentive points was or basis costs, stock XX be XX point a increase due costs. increase of a point in $XX.X to received point deleverage increase XXX hours reductions, basis in ago increase government the the in non-store increases XX corporate and the by in XX.X% SG&A million increase in point percent offset or in could XXXX, sales basis as to net fiscal on other point not deleverage store XXX compensation sales XX first basis of
of the first These the which due in basis increases XXXX. XXXK were event, timing held not of reduction XXX in partially the last quarter first of year, point offset but quarter fiscal by to was our
compares quarter X.X% a last of of with million quarter $X.X XXXX per $XX.X was XXXX. loss year. for of or net per $X.X loss of to the profit quarter for million the million of or Net million or first loss $XX.X share. sales the share XX.X% sales compared Operating $X.XX in $X.XX net operating first first or This net
rate compared of quarter to XX.X% primarily and taxes exclusion was benefit of year across income which the XXX.X% the in Our was in the effective losses of first the inflated for XXXX provision tax jurisdictions. with income allocation entities due for ago period, certain net
$XX.X April XXXX Turning and We $XXX.X strong the as in by April securities of in provided cash million, of compared XX activities. a million to XX, capital $XXX.X to offset XXth, of by marketable cash in trailing XXXX. current as by quarter the the million $XX.X balance marketable the million million and driven $XX.X expenditures months operating business securities current This had financial cash of decrease primarily over was position. ended sheet,
first the XXXX, ended full XXth, balance with end quarter April prior unused count the year. We in up from inventory was while on is to sheet of increases million our $XXX.X by debt driven the to down remain As million inventory growth no credit quarter. we X.X% inventory, international facility. with the year last America The our North have in the and business, compared X% in continue $XXX.X store
year inventory a X.X% currency XXXX, more XXXX. quarter while to the aged were levels end current to we in On compared of last same basis, fourth constant quarter are more were and we up the our than from
fiscal the May ended XX.X% year. four-week sales XXXX. XXXX XXth, results. comparable XX.X% four-week Now, sales XXth, for prior period period May decreased weeks May four in from for the Net compared XXth, to May ended sales XXXX were to period our the period ended the the Comparable down
net international business other sales four our over weeks for May America versus XX% North Meanwhile, for XX.X% XXXX year. perspective, the XXth, business year. regional our decreased last decreased ended a the From last comparable period
international our net compared Excluding of sales for the from other XX.X% impact foreign prior May North currency XX.X% net four the weeks increased American XXXX while year, decreased XXXX. with XXth, sales translation, ended
sales Comparable to down for the were period sales XX.X% for same prior year. other were North for and compared four-week X.X% America up the comparable international
per most our down were from transaction. men's, fiscal fiscal hardgoods, Total Footwear in and in an XXXX, sales were a by From negative per partially for a increase by was year. categories perspective, in the retail, up transaction May by category women's. category driven dollars units unit offset in accessories, decrease average prior comparable followed May XXXX, all
of to With estimating fiscal formulating our external and second growth product variety complexity respect that everyone our internal and outlook sales, want uncertainty factors to remind inherent our earnings the involves I margin, quarter XXXX, that the for guidance of given some performance. impact and in
on of slightly still continued below from under Our but remains consumer first than demand levels May spending. results better our impact trends, were year-ago sales pressure as quarter well the inflation discretionary high
quarter mind, to in million. between planning total that are second be $XXX sales million $XXX in the With and we
to our and second we that fiscal continue points sales XX expect will points environment. XXXX be XXXX from margins down second XX quarter We a of between basis basis quarter challenging the as through work product
and between cost percent second Similar will negative as coupled we the and between to the first X.X% a sales Consolidated with in $X.XX is be pressure. is sales loss earnings largely loss on quarter, be the base, $X.XX. share decline and negative anticipate per due operating margin deleverage the negative in structure expected of to to for X.X%, lower negative quarter
driven such areas to in be are costs of expense, operating and hours, our tied other hours mall corporate costs. biggest deleverage to fixed store that as continue Our occupancy by base
remainder view hasn't is XXXX said, the Rick and on we expected of As changed. year unfolding as our the
to out As we the how are the back practice we due given do currently around trend to guidance context volatility believe want our and refraining specific uncertainty March, some provide will from the in year. environment, the with business in but macro annual
each topline the to compared wrap-up fiscal quarter results. more the we XXXX half. to the pressure, compared fiscal more We trends. the as in back in The year, continue challenged easier to year particularly results when more become sales we a year will when progressed normalized the opportunity believe of suggesting comparisons first became half XXXX historical as throughout quarterly Sales experience
product XXXX Product fiscal was impacted majority of years driven year-over-year of growth. discounting to margins, down XXXX we our by was consecutive margins work were six the which decrease after XX as increased this inventory points in fourth by The basis right-size of quarter balance.
and For as fiscal of will we half year drive the through margin inventory trends. remains market to line tougher believe we sales with promotional work retailers product be with in current inventory aged that the continuing XXXX, in first the
and in We half inventories expand stabilize the come line year believe and possibly the comparisons as easier. that back in margins may of get
Our and to XXXX fiscal seen first and sales have XXXX. in of as model we fluctuations is deleverage quarter also sensitive the sales decline
While the driven sales in margin, leverage. experienced by and XXXX when true opposite record was operating we meaningful
navigate take conditions to expenses we are continue current We positioned the to manage improve. and environment as when advantage diligently
that rate approximately planning tax on and jurisdictions distribution income pre-tax tax we note rate are fluctuate effective results annual of throughout important business currently quarter-to-quarter our assuming to our expect XX%. the significantly an of year. from different between based the to It is We
during in up upon stores stores North new locations right the to are economics. We year, stores planning in These America, Europe, the XX approximately with in are open contingent stores Australia. complementary XX eight and including openings five finding to
currently as are that While our store may reduce us to achieve experiencing, our cause circumstances, our practice, unable negotiate openings targets. if that to such normal is challenging are those deals we financial we
million year $XX XXXX $XX and XXXX. million We in expect the expenditures full be fiscal compared between to capital to $XX million for
expense lease be We expect approximately $XX non-cash million. will depreciation and that amortization excluding
projecting currently approximately year be share are XX.X diluted million the We to our count full shares.
we With for up operator, that like to questions. open would call the
