XXXX a partnership morning, the diluted full good for WHP strategic $X.XX company. chapter everyone. earnings per new We with and of year begins after completing bold delivered share transformative transaction Greg you, our Thank This Global.
our of private part Express of which Global $XXX issued we a shares a we and million the contributed our core brand which venture are financially, to sale reposition reflecting profitable X.X intellectual used property As of to our the in proceeds investment, to now our of transaction the achieve to that and WHP newly pipe acquire beginning the stock, We the common joint strategically. received of we Express company company to business. million, and first growth intend repositioned
our optimize and Second, accelerate create to brand category to WHP of Global fully in And to brands. partnership growth fashion efficiencies acquiring and licensing, and operating international and integrated omnichannel by the a portfolio other synergies profitability through with third, platform by brands. scaling drive and Express across our
We these and financial committed sustainable consistent, fully will accomplish objectives to discipline, rigorous, shareholder we by creating with value. operating are
offsetting the first Our year, negative half. comparable in half in were flat back the the for sales comps gains with
sitewide and industry. with categories discretionary strategy sensitivity unit through growth aggressive five quarters retails price driven for Our activity spending, and against higher consumer up across promotional consecutive our in storewide bumped reduced which promotions, elevate average brand reduced to had the increased and steady QX,
out certain versus best In versus core in dressy We addition lacked We to had and were assortment these our depth products. external and of in architecture. categories misses women's in pricing. and headwinds, balance some across good, self-inflicted we in fashion, breadth better, casual,
react been years, ability three our industry's inhibited by to last Over quickly chain challenges. the supply the has
in with arriving expected, behavior urgency greater time some trends We on imbalances are most cases architecture speed. in Now our our late that with quarter. challenges, we than in have in earlier the the consumer responding assortment third effectively those of we recalibrated are and mitigated to to or address receipts
have higher and These the of already significantly generating chased, and a realized in we assortments, categories core move be are sales. fully corrected through and recalibrations our spring our will QX. portion these restructured, We accelerate as
XXXX the year. through sales Our improved trends as reflects we for outlook move
EXPRESSway major In record XXXX, we strategy, We while business forward comps men's challenged, positive and drove business continued growth XX% was and women's delivered to in advance the our a our year. of all categories.
purpose styling is our resonating, and Our community growing. is brand
spend are per of highest this. customer and loyalty adjusting members are fell company's short see and in number the of with our customer, acquisition marketing to We operating targets our history address but our strategies strong
by performance to sales Turning channel.
throughout and record eCommerce results stores performed in positive consumer outpaced and XXXX. profit outlets well factory and current further with retail the a Our value. underscore sales the year. expectation Express comp outlet around X% These
X% delivered the stores of a six in Edit stores real for year, pilot the Philadelphia. Retail concept in life balance with Miami, Boston, comp We our and York, Express stores fleet. new our outperforming New opened
fleet customers our of these as loyalty zip outperforming as and surrounding new digital and in Our the Edit are well Express members acquiring on sales boosting codes. metrics, stores balance
progressed impacted in eCommerce returned slowed the stores. in women's business, penetrated our eCommerce which online. by our significantly as to the challenges sales shopping customers Our as business is year highly were also
eCommerce We we in business billion sales, time may slowdown industry-wide committed a seen As but the improved, more lift dollars this the women's originally than channel. in to a has corresponding demand, remain take online given we've in anticipated. this delivering
million paid of interest the off savings. term remaining of in conditions million were The macro our we which have interest from January. in challenging, due $XX structure. reductions we because XXXX comes in identified conditions million to loan, to will expense SG&A we from high elimination these annualized continue, and come the our of $XX The savings expect back $XX half cost
as well. expect inflationary headwinds We
savings and reductions will cost and single expected is just share upcoming realized. commitment they about will savings a At order this operating cost including So, reductions, margin. be productive aggressive, first expense phase an how investor to the event, safeguard detail to achieve our mid of digit and in more we our expense when
the forward teams fully advancing and objectives. EXPRESSway on strategy, initiatives remain to our our the We committed are focused
environments. navigate macroeconomic the consumer respond have and long-term growth and brand. approach confident We to and in our been competitive Express We agile in of continue our goal the stated in profitable remain to both
me fully Express a let We the to of our of transformation fashion integrated omnichannel core portfolio optimize grow to other intend aspects to business. and our our turn beyond Now, platform brands. operate
to model estate, efficiencies will We go-to-market and real flexible, our across synergies human leverage production, drive the create streamlined, logistics, portfolio. in sourcing finance, capabilities apply and and resources technology, and our
and growth brands. scaling expansion by category We also other our by and intend profitability Express to and operating brand fashion partnership the through licensing WHP and acquiring Global accelerate with in international
including disciplined with our growth compelling through focus against our investments acquisitions, to in of be platform on will approach set delivering operating We our generating and synergies strategic capabilities. criteria, and a clear potential, new returns profitable a on
accelerate Already will growth. a part portfolio, brand of also our UpWest the Express
growth and of UpWest year with sales mortar continue launched relationship XX%. a grow also the fleet in Nordstrom a XXXX. had to we with still sales While XX wholesale its great stores. to UpWest total small, and successfully of rapidly, expanded Digital brick have first
our who our the of as take as through to detail partnership, full fourth XXXX. provide Now of quarter WHP outlook additional and the Jason, over you results call well and year Global for let aspects the me turn will
