evening. Good you. Thank
meaning Before and based I need made business, I’d and variety These within on today's Reform a Securities Act involve of risks current an advise you assumptions and update XXXX. uncertainties. the statements to forward-looking Comments statements may our the of Private call Litigation unknown are first forward-looking contain provide known of on the on opinions of following. and
contained in such Actual suggested differ we that set current results on from those for year factors the SEC cause with may forward-looking file Form such might forth our the other Important and report ended differences or periodic statements. including in materially SEC. by those our December reports filings XX-K and from XX, that time-to-time include XXXX
we which measures for in our measures in call, with be should non-GAAP today's in we accordance results The not believe will or presentation refer certain evaluating a be GAAP. substitute of or these as useful information performance. to financial prepared During other isolation can considered
of these a refer consider today's GAAP please measures measures financial of why For reconciliations we measures discussion these release. earnings to useful, non-GAAP to and
ballot forth thank to stockholders first, would Meeting I our So like last by consideration Annual for proposals approving at our for the set management month.
in us stock straightforward ensures transactions As of of the a provide reminder, for flexibility equity first better D stock, Series to capital were that the on more two, objectives common which were key announced X, business; ballot structure. One, the conversion to which our working alignment following greater approved. the July the XXXX preferred a items operate financial
compensation, provide XX the attract of as incentives existing restructure of secured greater the collectively common well shifting organization debt cash of months; to as who demonstrate strongest for to for talent; plan of five extending the the members and Board our less to reelection allow the volunteered future stock across employees whole retain senior management incentives Three, the four, XpresSpa. the their have to to maturity employee stock support and and expansion by five, their more
our Now update. to business turning
to I our strategy progress think quarter. during continuation the operating results reflected and that serve it clear the our of we third validate quarter that demonstrated is second
Our improvement our comparable margin measured top operating steady operating sales operations improvement, level an loss. a our our in performance continuing lower improvement by and adjusted G&A in bottom EBITDA line our by as loss store in as from as well store measured reduction as line growth,
is from are to journey turnaround we far time. a our still away and Obviously, intend go where we over
are on year. we and track the we've next we already quarter, However, can accomplished and confident fourth upon more already are importantly that record build we what that the hopeful about during increasingly
travel what to to forward holiday ourselves active look adjusted we be particular, as In a positive cash generate operating we XXXX in XXXX. should calendar season close flow out year and very positioning while EBITDA
review new XpresSpa. the and at these let’s Now developments quarter
Notably, with on during and sales period. however, increase a we the to grow entire cycled still over in services X.X% gain comparable in store quarter were Third quarter. able store our X.X%, third year comparable realized last successfully was three-month second massage par increased we from this sales quarter, which for the price the
along field streamlining prior versus reduction corporate the processes in in and decline because store a compensation held of significantly comparable strength level steady impressive growth the Through store third quarter sales X.X% Average margins. also more three despite with with to the store rose compared closures several steady, year, reduced total our G&A revenues store last in our footprint. during the of even X.X%. the per and We an year. the quarters a margin We increased year first within stock-based sales held by reflecting
and an of these adjusted million to to of XX% of decrease from to XXX,XXX in EBITDA led prior loss a efforts million EBITDA XXXX. X.X to compared XXX,XXX quarter the year, loss our operations from substantial compared totality third the X.X in operating loss The a reduction continuing in to adjusted
to In how employees, technology terms of we're priorities. other our experience initiatives, our scheduling, I'd start enhance utilizing optimize our train progress overall across customer like strategic to with better labor discussing and before
concierge training First, gaming first as into our the we effectiveness, incorporates material. started customer of increases with behaviors. launched supporting that retention and an experience and investment our participation, tool improving our methodology which employee We online further upselling training population
which designed a scheduling labor in optimize new hours. us help Second, model is we testing to begin December will
Given wages, unemployment and deploy critical and us our this tool we productivity. that greater help ever than rising should efficiently more lower it realize even is staff
we text past, X schedule queue already are and in capturing as is greater them. we enabling leading enabling Phase This satisfaction customers The walkaways. we’ve when app U.S. have includes digital discussed ready rolled retention, we customer us and Third, to higher new our services. in-store app better across for text the more to data, and of out spas customer capabilities to as us a all minimize
through we’ll spring Phase spa. app, XpresSpa security X, and which XXXX, rolling an customer-facing airport at schedule before customers will out services In they reach to the enable be get the
to be we our Technology future will loyalty, increase best, one also the the so can of better highest will spend We success. unlocks of customers. frequency track
you they now assortment now in to services. array supply of a offer our chain been fix the As ability wider customers have are consisted have that past. our product in know, recently able to that interested have we And both issues in quality only the while retail styles sell and are items and upselling made colors our have services, retail more able headway revenues some our improved in and issues products we and hurt we to products purchasing. supply Thankfully,
new Calm new to available exclusive with Gravity sleep before a Christmas. XpresSpa. products These will launched blanket. of we're weighted currently are that collaboration in will spas we our leader We and mask sleep excited and the designed weighted have two The a in be also and be Calm.com travel is very blanket all mask products industry about,
development, spa respect franchise With in off first to are franchise-operated we brand spa company-operated a Austin with to and This and a great a September is we’ve XpresSpa our XXXX, opening spa. to start. expanded
opened our our in spa also in We and opening Atlanta Christmas. Vegas Las Xst spa third fourth be on November before we’ll
our next Philadelphia which second early in now has been to represents Our opening, that airport, spa year. pushed
this maximize offensive And elevate that so regimented as shareholders. We’ve thoughtful as our on to-date seven and capital also focus of ROI our allocation for to defensive consider and XpresSpa. an perceptions remains and refreshed move both spas our we can always,
five that including quarter, these off the expiration year. locations only during transition while spa. could closed be also renewed, spas during closures result pruning our San have this Francisco of underperforming closures airport a third the remaining lease two not in unfortunately We were systematic of our of Three reflect
to the continue other all overall spa closely will business. necessary when We monitor locations, close the health and our of of locations for
G&A occupancy Station New our our disposal. level. Center Managing expenses renovated for means but our the reduction to us of and Global savings an will cost which realize determination we’re office near yield one streamline a to is is We field Penn relocated and at in This focus processes in approximately of demonstration XX%. through to Support space $XXX,XXX or annual all and a York continuing City corporate recently reduce also key expenditures costs at
G&A For last compared third to quarter itself, fell $XXX,XXX year.
our Turning now partnership to activations.
opportunity two have not also have but we announced and and our only we conversations health and as exploring think desirable several base. affluent to well. spas to year monetize We all, this great a beauty estate are with other the and companies products bring our real new and to wellness customer Above services
partnership we’ve know, the meditation number for and relaxation. you broadened with world’s app sleep, our one As extended Calm.com, and strategic
portfolio XpresSpa Our future are relationship international and collaborating expanded at on potentially locations as select soon XXXX. spas, brick-and-mortar and an now as we encompasses domestic XpresSpa’s Calm experience testing all
Christmas partnership November of eye broadened the the referenced The before launch blanket holiday. Gravity includes that This travel blanket weighted in weighted I mask Calm launched earlier. eye mask will branded also travel partnership the with and and in introduction
Persona, to partnered offer and Persona Under all Persona's in with airport revolutionized of program products nutritionists. the recently domestic by part subscription our subscription products Persona's which will Health we is agreement, we’ve Nestlé vitamin the of locations health its with personalized and the wellness. and commitment Second, our industry through staff has on Science. shares trained
able will immunity different and Customers to be nutrition designed jet or receiving order. for an purchase packs customers relaxation, support on especially first three travelers their with health exclusive discount lag to
spas our this in of Persona end launching be by the will year. We
so we’re cost is Finally, we test are considering depositing from to an to will and proves if and cashless than see assess steps. actually select as cash customer in expensive spas a payment Collecting bank it savings airport test fees, the before beneficial card the more credit feedback in next initiative. this program eager continuing
progressively conclude, we strategic of early bullish we’re supports with a respect this accomplished and and that have belief our our since a To sales to losses. future. substantial we stronger have growth the store getting by priorities year me our we of on potential narrowing as encouraged operating our execute Everything my comparable on that traction and lot keeps
operating strategic the there. enhance am and can’t our wisely, flow existing get we I results EBITDA opportunities positive next the continue partnerships will to end and year positive and by achieve cash identify we to and spas, intend if We of expand of confident
and hospitality easier wellness Most By by loyalty our to our up strengthening it and holistic platform. making technological them our in which so, brand our yield great enhancing experiences engage perceptions we providing are for their greater frequency. importantly, we’re of to ultimately should customers, with us stepping game doing
through Now, walk itself. I quarter will the third
XXXX, spa In in or despite the during stores, to period. million, decrease the six fewer narrow XX.X a compared the closures of itself. quarter third net This prior was quarter versus a three-month decrease representing prior-year were terms revenues year quarter XX five including having XX third of $XXX,XXX X% third
sales. effect comparable the store The partially X.X% positive consecutive comparable stores strength quarter the remaining offset a sales. delivering closures the was of of in second our store This increase of
to store quarter. the XX.X% X.X% XXXX. Both million third in the In were addition, margin quarter sales million average increased total in by Store $X.X revenues. of was third per compared $X.X
Breaking points XX.X%. costs a total revenues, percent rose this down further, labor basis of XX.X% to as XX from
sales XX.X% lower our underperforming decreased growth closure store in was a Occupancy primarily XX XX.X% locations. is this good and reflecting which of thing by turnover, eyes. the to driven However, comparable basis points from costs
And higher costs, of points XX.X% partially store comparable and level products leverage increased locations. other costs taken basis by store initiatives processes the closure savings cost by growth, XX to reduce on to streamline XX.X% sales offset due from and and underperforming operating costs product to management
coupled $X.X traction in with made a processes administrative we stock-based administrative period, level at million to decreased through field General as $X.X million and in reducing compared expenses in streamlined reduction to XX.X% and prior our compensation. three-year the the corporate costs
General to million. quarter Loss to EBITDA expenses XX.X% EBITDA XXX to XX.X% quarter the decreased basis $XXX,XXX total from and of $X.X points $XXX,XXX Adjusted operations of loss million $X.X decreased decreased from administrative XXXX. third continuing third revenues. to loss in compared an adjusted from in
for your today and time XpresSpa. in interest Thank you
it will Operator? open Now questions. up we for