strategic On up call of and quarter financial and as Trevor highlights full-year full-year for quarter our we’ll progress open for everyone will our growth of making our the discuss then Thank and our fourth results, XXXX some thanks joining the you, our to I and and earnings the XXXX performance then sales earnings of we will as call. outlook XXXX conference call, quarter review initiatives. provide on fourth on today’s well each are and fourth XXXX us questions. Wayne,
with are Total as million per XX.X% EBITDA our results, quarter year. XXXX all our record to expectations. and sales last delivered pleased store fiscal growth, a We increased from $XXX.X comparable fourth adjusted adjusted exceeded earnings fourth share sales quarter that we million $XXX
the full-year, For which sales billion, from our a is XXXX $X XX.X% our sales almost triple total million. $XXX year last increased of record to
quarter XXXX share Moving on XXX% to increase fiscal earnings. $X.XX, XXXX. of per fourth of reported We GAAP earnings from a quarter fourth the in diluted $X.XX
earnings in Our per fourth $X.XX quarter share adjusted from to XXXX, to diluted per our XX% increased $X.XX of of $X.XX share. quarter exceeding $X.XX the expectations fourth
XX.X% For full-year, XXXX. earnings the $X.XX reported per $X.XX, in of from diluted per share we GAAP up share
from XX.X% $X.XX $X.XX Our share full-year share diluted per XXXX. earnings fiscal increased to adjusted per in XXXX
to forced fiscal to We over that a of that initial be the a trade headwinds $X.XX adjusted in share as as report of were is per result long-term navigate are able think to as to exceeded well presented continue our our XXXX investments which we pleased growth full-year $X.XX, the scalable difficulty macroeconomic earnings fiscal make the considering great challenging we and XXXX guidance we environment to XXXX. year, first-half
and drivers discuss quarter of XXXX how me growth and some sales full-year Let earnings thinking the we’re now of our fourth XXXX. and about
our achieving experience; four, are: connected existing one, earnings growth and our large three, to sales customer expanding store Pro our growing pillars stores markets; warehouse targets the reminder, in and comparable long-term sales; opening in customers. a our and investing As new and commercial two,
free services. design fifth Additionally, introducing a we in are pillar investing
each the growth we’re making of Let of me strategic on now these initiatives. progress some discuss
we operate total First, in new the XXX XXXX, the stores stores, quarter XX% XXXX. fourth XXX bringing number stores opening seven to of that opened up in We new large warehouse of warehouse from stores. stores warehouse
we that model of the growth in believe a to as store rate years retail a industry, last able store we – compounded a continue seven at over consolidation. to unique been base the significantly significant successfully time have annual at industry We XX% have grow our
As in to stores, we month, later store look of to La five quarter XXXX, are store remaining opened to which the in we openings open expect planned open January late The Quinta, to first March. a California. the California: new in mid of expect Sacramento, warehouse be this one XX we’ll
full-year, we stores, is opened XX% with mix existing new which and XX in we the XX% markets markets, same those the percentage XXXX. expect warehouse For in new that to of open openings in
to expect to Texas. will a small we in test square represents for The open design studio we see foot increase market Dallas, areas, where able fit studio opportunity XX,XXX an design to densely our not a us, higher-income store. Additionally, large where share format we’re populated, in a
Our mostly are research tells that customers. us new untapped these
the that real visual lined about excited new have I want growth will remain and operating several excellent estate, stores unit mind, With which believe in in for thank we XX% we that up, sustain we merchandising their us execution to the teams next to XXXX. years. allow pipeline of XXXX, strong construction, over Beyond our
sales. on growing Moving second our store to pillar, comparable
above guidance XXXX store slightly fourth of growth. fiscal which Our X% X.X%, grew to top-end X% quarter was the our comparable of sales
fourth stores store the our increase comparable This new quarter of pleased X.X% store growth and reflected impact our in comparable growth quarter range ticket. comparable between cannibalization, in a X.X% last increased double-digit are the low in our year. store sales average that we fourth sales balance exclude comparable store good from we in transactions When
X.X% see in of from transaction pleased growth XXXX. X.X% stores our were to the comparable growth to quarter third accelerate We also
X% increased full-year, XXXX comparable our when the we Houston store increased sales exclude and the For X.X% markets.
and and Excluding sales growth in very grew and XXXX new for fiscal in X.X% range market, in store a Houston driven tickets. stores sales sales comparable of low by rate growth average our X.X% fiscal store XXXX, accelerated our cannibalization store comparable comparable stores comparable transactions store the healthy double-digit in comparable these the XXXX. in second-half store The was increase in the
in growth fourth fiscal start comparable rate We and sales are XXXX. of pleased the the with fiscal with of our exit quarter store XXXX
discuss, will total store XXXX. forecasting growth XXXX, stronger sales compared Trevor sales in we annual to and As when are comparable
sales category, of quarter an we our rigid categories come experienced within our Turning fourth six sales for continues performance to from and Consistent industry-leading growth four XXXX. have our quarter. strongest store our the comparable some categories, fourth laminate comparable merchandising sales where prior core plank vinyl to Among with in our the merchandising luxury total and store growth quarters, of assortment.
our for rigid to exclusive XXX up and XX.X% January, market. pet-proof on the our accounted To dent vinyl category points sales, believe new $XXX.X new core build resistant million the flooring this XX.X% XX.X% which performance of and flooring, Fourth quarter total we in most is scratch, sales basis from core in we year. increased in durable growth, launched last the
New our at point driving strategies. core are is innovation growth value how sustained price performance our is of through best and another example we
are confident and XX-year product it comes a the We in that commercial with so warranty. lifetime residential
paid the brought growing discussed logical a of for throughout compelling store training, sales. program emphasis products around incremental new a We our new all XXXX, more accessory in off laid As fashion, installation our department on we bonus XXXX. and out a associates, implemented put of lot a which focused in we
market estimate is our relative for make category area are we the a our enhancements best was to the share. this comping one-stop quarter. second believe and further year category an fourth increase market flooring, where that to destination can for The and hard-surface as We underpenetrated we
Moving execution third on from our included to decorative sales a accessories, is XXXX keeping sales, new merchandise The experienced expect from of reset, marked forward grew of from the quarter up XXXX. unit Total for successful us. that XX from where XX.X% our year. $XXX.X of the basis XX.X% points and trend last in customers to acceleration stock sales we million category benefiting quarter fourth accounted which
We expect on forward keeping to as add growth this trend unit. in stock additional we XXXX, build
categories our store comparable quarter below last wood sales and year. tile were Fourth in
product third our challenges through we discussed our we largest countries transition conference As of diversify as tile, earnings in category, our in are working some we XXXX call, origin. near-term quarter
category, near-term this merchandising This led out important correcting. are of we to transition some which has stocks in
merchandise in-stock we will next trend our updating to lot job months. be our be positions, wood, improve further believe assortments the normal in-stock over In return more our we several which to expect We will to improve performance. forward rates and will our
includes on bath vanities successful We and and to categories This tops, strategies are store shower our adding merchandising adjacent to in by vanity countertops, continuing online. doors. and sinks growth custom accessories, build incremental drive
we have or year-end. For in of XX% stores, store at XX the now vanities example, base bathroom
XXXX. expect to in stores them We in be all
and styles will and our with with We out continue delivery exclusive assortments to are results trend build options. pleased forward the early
programs While and we us incremental, hard-surface demand adjacent flooring they isolation, meet will help are we and small and be always our adjacent currently scalable our retailer represent the a growth from at and our with opportunities Pro to margin. categories, best strongest all better DIY customers. merchandising growth we are the pleased Across the points continue price merchandise see and see and merchandise
connected pillar of is Expanding experience growth. customer the our third
our from third XX% continue strategies. successful fourth XXXX. We XX% connected the robust the accelerated our growth quarter, In to see customer growth and e-commerce of traffic growth both conversion in sales quarter from to in
basis sales fourth for As XXX a up our XX.X% last X.X% of e-commerce year. our accounted sales, result, quarter from points
sales, sales We up increased of sales XXXX. accounted basis the and to e-commerce our full-year, result direct that our XXX we website. our the through is points from growth XX.X% and have implemented believe inspire in of educate for our XX.X% in e-commerce X.X% For strategies
that while with purchase journey consumer We our friction streamlined process process. stores, the from simpler, aligned more we sales the engaging, more so and have also can the make removing purchase
sealant project; experience calculators online. is integrated materials to it cart project recent a personalized needed by room a making tender footage, for and determine with for a our the adding and room square include, few shopping enhancements flooring mortar, A moldings, easier visualizer, to measurement which
we’re in While we excited the end. the to measure early it’s about and visualizers’ impact, best product and it’s us it to potential enable will content believe how customize too
our picked where performance store. continue further see to we purchase and our strategy the XX% customer the we That build our is orders decision. to In as XXXX, improvements to of to intend in in said, to website approximately e-commerce data these web harness determine remain make executing on up our the key strategies further stores to
low we attributes, free unique experience from mortar and of brand brick to purchase Floor believe ultimately like knowledgeable sales stores, XXXX XX% consumers visually our match. market associates to by with our design which Decor validated everyday services in-stock & and and large products is shows prices, shop is research, hard combined who us. When overall our This appealing help,
commercial of and our pillar growth Pro comes customers. fourth Our holistically from in investing
ours of as have loyalty discussed look with our and in we wallet the advocacy, investing Pros with Pros, to strategic as in increase As we drive of existing currently past, shop with do to our customers as brand that priority us. share well Pro engage the not our
label us through to is drive our the with all that on the build our which of PRO services XXXX. with launch in rewards beyond. with PRO touch our these starts Premier enhanced important serves our local that platform all It Pros are points private personalized We include credit program, store of important engagement Collectively, CRM card our enable our offerings our programs partner Pro and point-based our App. Pros enablers, XXXX in and and PRO with will
making also very minor, growing nicely. where our commercial our We in is still market are share but team, important investments
contributing these to Let how growth. me speak are to of each
launched had points. which exceptional earned our growth. in in quarter in redeem program, First, strong and Premier XXXX XXXX, PRO of saw growth average and experience the growth Rewards enrollment We robust to company-wide continue year-over-year third
XX% the with members more PRO after say, signing Our average program. up they of spend Premier an
To three add Pro Rewards the further context, member non-member. Premier than spent more a average times
we the build by in and will growth its So awareness engagement program’s of driving benefits to continue on increasing XXXX.
pleased with was Pros are the the our of PRO number be and in using to launched which App, growth continue XXXX. We that
App in to as of one the over a We continue download launched grow, app recently expect Pros the of most awareness, had we utilized out functionality. that schedule, our continue XXXX pickup, features to usage features the and check-in build We app we and could be XX,XXX app. the feature to PRO on
time buy customers. all across data are obtained and much Pro DIY average shopping length for wealth when a of as our between such Pro spend, and customers customers, of how accessories and We leveraging visits, investments have our both and more installation CRM in about customers
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commercial started, are our sales large our gathering, so we stores clients how in confident but sales serve just and professional infrastructure build incredible are can our are Separately, assortment, our improve we knowledge associates of that better. sell getting that We the focus very with are intelligence to them the out continue with and regional to sole we to our RAMs. account by leveraging These reside stores. or commercial outside to chain supply managers, customers
We RAMs XXXX store ended is investments XXXX the capital in in working These and to no are builds locations. eight CapEx of and with accretive, or off in very infrastructure DC place. add as investments XX plans have already strategic more about there and
were that small relative our internal our and plan total segment’s remain sales continues the total to our we pleased sales exceeded growth sales, and isolation far While our growth. exceed to sales XX% commercial
out Lastly, calling of a pillar growth, our separately service which fifth design we’re free new is offering.
significant several growth seeing engagement rates. and metrics, are conversion traction including in in important ticket number in design growth We appointments, average of the
result experienced measurement and compared with appointments are them the same had direct in increase XXXX at and The improvement in the We they growing when stores, almost goals see of our to be in need a in XXXX. that while conversion successful. providing is tools, delighted processes number XXXX to significant we designers with the time XXX,XXX the of
ticket designers to growth this three much times our four rate We the in intend testing customer past, margin As company design average, average is than greater our XXXX. our higher, the involved, on are we is by have rate is discussed gross our scores in-home conversion higher, our in consultation and when to higher. build satisfaction
factors and to we’re geopolitical the industry I the thinking affect our and my macro how turn will now environment about comments that company.
coronavirus our how taking discuss through precautionary country we Let measures are outbreak. in the first managed as me the and for China, associates they
the First, Asia we travel our after to from from office working Lunar Year. and New Chinese minimize home any asked sourcing our associates return by they
Second, and and in February and we to Southeast suspended those travel March. China from Asia who
about will anticipate concerns imposed do to government and that the overall the the we Chinese virus delays. of lead by Finally, restrictions some likely spread travel production the
As better and like a a inventory monitoring are manage is sourcing receipt us disruption. delays. our understand their fluid potential following with in a production a closely. We leaves schedules suppliers That result, in to to good regularly slot that Asia supply up our many our is near-term we, office any all of others, position believe chain flow said, this event
to Moving on the tariffs. impacts of
that XXXX. As a imported to many Trade in U.S. from exclude increased at X, XXXX, in June the certain products China XXX XX% from XX% Section USTR flooring know, – on Representative, and the ruling you Section XXXX of implemented retroactively made Tariffs were November September from to beginning
the sold number and each were In products X, granted and vinyl XXX and November continue addition, ruling. engineered exclusions Protection a under these identified click granted tariffs to apply these we XX November we article on issued U.S. are XXXX, U.S. for to refund All exclusions from USTR Chapter certain paid entitled The the to exclusions for have goods. on XX, that retroactively, Customs unique Customs Border Section applicable the previously sell. XXXX
currently impact we approximately tariff expect to industry. the existing the housing in many XXX like million price of with served tariff metrics, rate XXXX. that our interest decline U.S. though, stock, growth to the in pleased homes, that $XX.X slide home and the related Section to rates has the year-over-year others, to While along age of subject Customs, macroeconomic are economic the and claims are We, of appreciation approval and refunds recover reverse mortgage payments continued one
of of home many decline began XX.X% their albeit July a As XXXX sales in you year-over-year reverse up of December and know, December in to existing XXXX, XXXX. decline were in against XX.X%
to home that also We show have continued prices been encouraged appreciation. modest have
age Finally, owner-occupied improve which aesthetics home years, spending improvement supports to of of and currently is homes. the XX median repair homes the
when So the favorable of entering to with we are XXXX. XXXX backdrop beginning believe economic more compared a we
That to said, comparable growth lead high growth sales long-term. store which housing we on to rely watch will company’s the but single-digit over our mostly drivers, single we believe metrics, many specific mid
our in XXXX that we consumers As strategies beyond, share stylish about to and we and hard-surface think flooring and we believe our continue offering market ongoing solutions innovation will by grow through affordable services. easy, flooring and updated
we Trevor, how to announce promotion over & call the say the turn excited Decor. to to like of of Laube, I Before would Lisa President were Floor I
joining early instrumental is influence the know, many a success be company. – leader, our been terrific in who and can in Lisa since you As company’s throughout her of seen joining XXXX, has
also employment As demonstrates team, company. and part of announced leadership agreements new our the with change, further executive we our which to commitment the multi-year me
support the To further also compensation tie to aligning discuss next our we the growth financial with our greater of achievement detail our of intend in to compensation to long-term chapter of more are executives’ vision which the our aggressive corporate long-term and philosophy in long-term statement. expect objectives, company’s our executive proxy strategy, annual performance we
of all to customers. would believe XXXX to work like industry. that Let the by exceptional value hard-surface our saying and strength their their hard close fiscal of to in me thank proposition associates results our I we continue service the flooring our validate our for
and Trevor sales of now growth XXXX XXXX our quarter full-year to the fiscal of turn our more and the call I’ll details earnings to and discuss over results fourth outlook.
