Thank good results. recap everyone. you, fourth a with Andrew, quarter I'll of and our begin morning,
to For GAAP a to press non-GAAP refer of reconciliation our mentioned please the their amounts, release. amounts equivalent
leverage operating revenue a results margins currency we SG&A quarter at a revenues million increase a to in quarter year, adjusted XXX.X%. million all quarter led year. last increase to were XX.X% margins stack, fourth as regions Our Americas. the and last be continues Fourth constant to came by fourth compared in Profitability gross XX.X% outstanding, XX.X% $XXX.X with expand growth, compared to revenues double-digit recording $XXX.XX the on grew to On X-year best-in-class basis.
XX.X% XX.X an During of shoes, million of we year. over the increase quarter, pairs sold last
the average price rose discounts. Our to and attributable with increases coupled $XX.XX, to XX.X% promotions taken fewer during price selling year,
sold XX% XXXX, For of we over XXXX. shoes, year the XXX full pairs million up
to selling by nearly and discounts. XX% fewer driven increases price XXXX and for promotions average also rose Our price $XX.XX,
and our strong still as significant take by ever. is increases, As ability evidenced brand price volume Crocs to the deliver
was XX.X% wholesale with $XXX up region. by of review to XX.X% by XXXX Growth year. from led our This of from XXX.X% and let's which results Now strong XX.X%, X-year from XXXX. quarter prior and the digital revenues XX.X% by experienced was on basis. a led increased respectively, growth another DTC Americas, million,
meeting we in in marketing. where direct secure GTC to quarter increasing million. brick-and-mortar. EMEA revenues revenues they able through $XX.X both in increased were than Our outperformed exceptional e-commerce broad-based as the XX.X% balanced expectations was more relevance retail, innovative from to by and and result performance channel, from performance XX.X% quarter revenues wholesale QX shop the with is XXXX inventory in the of Wholesale increasing growth XX.X% compared benefited while consumer strong planned. with Americas driving in over the and the EMEA XXXX. benefited Growth initially DTC fairly
extremely brand year. last from DTC In This which is improved revenues and pleased with by are We QX was relevance up EMEA growth from and Asia, equally XX.X% million, consideration. were benefiting our performance, wholesale. $XX.X driven
during nicely that grew Korea to India both South impacted quarter results. year. QX and continue and faced periodic the has lockdowns the COVID and outperform China
However, for China grew remain double confident long-term digits and we in the plan. our year,
of mix. margin basis margins from by quarter margin by was mix. all all gross XXX year's fourth channels last and fewer prices, reduced basis year, gross gross year discounts and promotions prices, XX.X% activity adjusted The points from and product XX%. Our regions rose up increased adjusted XXX product Full driven driven and improved favorable XX.X%, in XXXX also points promotional last increased
HEYDUDE Our $X.X flat year million to to of the costs excludes QX in was acquisition. SG&A adjusted onetime revenues. XX.X% approximately at last related This
even growth For full XX.X% in sales support marketing leveraged from a is revenue. growth. and adjusted talent we points SG&A operating future XX.X% SG&A revenues XXX to additional of of decrease The to result significant and leverage basis invested strong in brand year XXXX, as adjusted of
to offset to position Our to year, than comprised $XXX.X SG&A. earnings XXX last by Adjusted same year by period basis the income slightly per million the operations included for expanded non-GAAP $X.XX. cash revolver. a borrowing and share gross led points for XX.X% adjusted $XXX.X XX.X% compared compared diluted compared doubled and fourth XXX.X% share operating $XXX.X basis with Fourth capacity rose more for XX.X% X,XXX period We've year year. points to same more cash adjusted operating million adjusted expansion, last quarter year quarter margin $X.XX doubled full of million, equivalents increased of earnings also to margin and margin on from strong per our Full to diluted to XXXX a to $X.XX of than liquidity the ago. XX.X%
$XXX had borrowings long-term a Xx and the under leverage on million addition, basis. In net year ended we of
majority to good in increase supported of average the million shareholders, strong our the ability our increases million to year share. XXXX, $XXX.XX extended and the anticipate December to with to an generation X.X cash flow price extended million shares the billion inventory take $XXX.X We we felt $XXX.X driven [indiscernible] transit by the in-transit certain in share. inventory full XXXX year QX for XXXX, per of due approximately Inventory Given $X sell-through at throughout periods. times. returned during strong in from in increased at repurchasing times XX.X% drive to holiday which We market sustain positions transit to season, our about XX,
As Andrew to times, logistics addition XXXX. challenges expect expanded throughout mentioned, we persist to in transit other
future, and XXXX. for current QX I the share full our outlook to turning Now year like would then to
we QX, the For to $XXX consolidated million approximately expect $XXX million. HEYDUDE be revenues to including brand
days. HEYDUDE Excluding HEYDUDE, assumes million, revenues which XX%. coming growth of approximately organic we the The brand $XXX closes revenue guidance of to expect $XXX to Crocs implies consolidated the XX% million in acquisition
air be within freight operating expect to margin includes of non-GAAP approximately $XX approximately which incremental margin. gross costs XX%, We million
expect excluding the continue to year. exceed for revenue generating revenues for full growth HEYDUDE, $X.XX the XXXX, For billion XX%, to of brand, we Crocs year over
In for a be year $XXX million a to brand revenues, we million full $XXX pro XXXX to anticipate on and $XXX HEYDUDE Crocs the still addition billion on more $X.XX million than reported billion a on to to forma approximately basis revenues On reported basis. and on revenues $X.X expect we million forma pro a XXXX combined basis basis. approximately of basis, a $XXX
adjusted that shortly. margins operating business the the I integration due freight, incremental expect excludes includes will costs air approximately of for XX%. We combined This but acquisition estimated profit and outline
be cash For to XX%. non-GAAP the approximately underlying we expect tax year our XXXX, to rate, tax which be full approximates paid
approximately and greater share We clarity to earnings we support share be growth To in invest approximately to provide both expand our $X.XX and expect XX%. for mid to capital we guidance. year our automate continue million to full be Our providing to To brands, non-GAAP around million are rate approximately potential will tax earnings earnings GAAP acquisition, $XX.XX per per primarily capabilities. distribution XXXX. expenditures, $XXX to to in anticipate $XXX
of X.XX additional loan million we and will a secured coming to the we close. the about acquisition, excited have very for close $X which addition expect of details sellers, term the provide we mentioned, As fee, the issue are the and billion fund in To Andrew to will HEYDUDE brand days. shares we one upon
revolving the estimate We expect also $XXX million under agreement existing as borrow $XX mostly approximately capacity the to to $XX million gross onetime acquisition HEYDUDE credit by We fair noncash margin, exercise related mostly $XX to charges market our on as in inventory SG&A credit facility, revolving million to increase impact in the well the in senior a and value. to provision borrowing the million. accordion XXXX related write-up of HEYDUDE
approximately first and SG&A incurred onetime leverage to will during costs in peak QX. be expect million quarter $XX of that the We
under deleveraging, of leverage is achieve allowing deleveraging As leverage on repurchase a until significant expect previously shared, gross Xx. focus quickly to suspended the we have we and combined are program flow, cash to brand share generate us to Xx committed gross our With end this by XXXX.
will Regarding and will and separate broken the to into a HEYDUDE we out Asia continue EMEA future brand disclosures, be as regions, the the Crocs Americas, report segment. brand
strong brands, revenue and throughout DTC manage penetration. Beginning For better Crocs digital will distributor will in summary, Latin we the XXXX, delivered QX cash America growth, businesses. well as we Americas to EMEA from we report flow. XXXX, to and and both In align the revenues wholesale region for profitability brand our the move as
this thoughts. the to positioned generation. Crocs turn the business confident for his time, for core we call flow growth profitable of back With are strong the over cash underlying sustained Andrew final strength of and I'll addition we the ourselves and HEYDUDE, have At
