you, Fiscal Call. Full on Earnings XXXX our Wayne, Fourth joining and and Year us Thank Quarter Conference for everyone,
full share thoughts fiscal I of and about fiscal then Bryan Bryan will some call, our our today's highlights, XXXX and fourth quarter earnings discuss year XXXX. During will
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align support and service customer our core principles associate values. his Moreover, with perfectly
now comment fiscal Let fourth about me quarter full XXXX and our results. year earnings
is we customer our grow our leadership in of the collective efforts, their fiscal reported flow sales per XXXX. flow-through, cash the while our earnings we store support hard XXXX, executed and Our for operating to of store service despite market earnings proud sales quarter comparable category managing flooring face team diligently share share fourth within fiscal better-than-expected successfully Thanks costs. and to store surface initiatives they teams and challenges
earnings $X.XX We settlement derivative a per includes earnings was settlement December fiscal a of contemplated not $X.X prior This net litigation net share, diluted favorable delivered our guidance. fourth which from XXXX benefit per in $X.XX in benefit of quarter XXXX. share or million
reported we from of year, XXXX $X.XX includes which per fiscal proceeds. diluted the earnings settlement the the benefit $X.XX share For net
during allows us through and make same strong in the position we at that are detail, growth the short flooring. a financial investments long-term the more in discuss will Bryan navigate time, cyclical term to downturn As in
opening in various technology and invest sizes and to associates. markets in merchandise, innovative new continue existing and our we new stores trend-forward and of Specifically,
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and and stock believe opportunity for as to a housing demand age older the significant remains increase. inbounds continuing secular updates We postponed will supply the years of continues of housing past owner-occupied several median and The remodeling. supply, after to aging outpace housing the is housing demand growth homes need XX-year in
milestone new Seattle, our XXXth North Washington, States. vision XXXX format December journey. reaching our growth company's growth. towards to in warehouse United various We the Turning stores point operating halfway store XXX the size in format in historic store our our marked markets warehouse a of across opened
underscoring our cyclical plenty X future years, the despite We for Over to sales the stores past X our prospects the our the maturity along states, XX growth format growth years, leading of stores, opened pressures opened X about in strategic we new of room XX% in have we warehouse including remain approximately what curve. our growth earnings industry. and excited commitment locations have last as believe in is
stores, in of At warehouse warehouse and to new fiscal improve. fiscal positions design XXX XXXX, of stores industry opened studios the culminating operated in has new fiscal opening new market opened contributed stores well the and In states. format share fundamentals warehouse us quarter fourth for format warehouse format end X XX XX when Our to growth we commitment our XXXX. we XXXX, in stores XX
open warehouse Antonio, in half and the new Covington, stores Kisamy, fiscal new we We and Oregon, Chula X Louisiana. plan the format opened of quarter Vista. X in have first stores California, to format Venice, Gilroy of already Tollison, in Florida, warehouse including Texas; XXXX, Florida San stores XXXX, and In first
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existing existing sequential improvement trend mortgage modest growth partially streak month rates, elevated sales straight Despite interest home third the rose in reflects long-awaited home early to for in longest sales. sales mid-XXXX. of December, growth The the since
only increase fourth quarter X.X%, in fiscal by XXXX. the Our average quarterly increased ticket comp
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have we quarter confidence articulating comparable continuum. learning by training and declining associate from improve, transactions made enhancements in yielding positive features along our benefits same including micro results. continued in to Fourth sessions year. last the X.X% are the Additionally, period boost training, The merchandising peer sequentially the
the approximately same benefit XXXX year. November grew from October month, basis X.X% comparable comparable to Hurricanes fiscal fiscal and December, X.X% for increase down was in XXX store followed Helen a December. from November sales the comparable X.X%, shift for quarter the which fourth an our combined Breaking Milton sales from November Thanksgiving in of last our holiday store We store decline December period points. -- declined by to and sales X.X% estimate by and Adjusting by
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adjacent first our a warehouse testing program semi-custom including in will quarter. online stores expand We in merchandise categories cabinet stylish at the offerings XX high-quality, and approximately
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Our period fourth connected XXXX approximately by sales fiscal last XX% compared of quarter same to sales. for year, accounting the customer X% increased
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and edge plan with journey. speed and and promote throughout We galleries. sets navigation. our selling and online These sets download mobile inspiration visual we our galleries improving to image an and infuse project content we website believe continue visual shoppable customer and have Moreover, the image
user-generated We free and designer design add inspiring, in excited to our content which are benefit XXXX, will services. more
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Let me design on comment services.
commitment results are We time reflect were being the strong growth growth report to staffing to These diligently design fiscal and sales our pleased a labor throughout managed. significantly and transaction that design XXXX service fourth strongest. accelerated at the quarter when hours services with
credibility on awareness closing and designers and are opportunities brand pros. and building homeowners our project high-value design focused Additionally, with
since we services, the Net These Score year began experience design homeowners and of across satisfaction. we strategy commitment Consequently, we are and a online design led it. our highlighting customer highest offering achieved to in-store, channels. elevated executing design and successfully services pros measuring Promoter our for excellence for efforts our and to combined In summary, remarkable and in-home personalized
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with We and pros. that retain from continue partnering advertising way practical provide to benefit attract new a platforms cost-efficient native to and
Additionally, we understand in outside service directly where spending benefit needs our and solutions. managers engage their tailored build stores our of they ZIP provide to new from pro codes, time brand with awareness, more pros and
have events XXX new driving surface active plan Finally, our XXXX, we'll in and and these believe events in among to XXXX. educational are industry-leading on We focus stores events in hard fiscal in pros XXX we successfully in held in reengaging pros. growth flooring XXXX
the year. fourth at market, to commercial difficult decline multifamily last LVT comparisons Fiscal Finally, Services sales from in against pricing business. the I'll and primarily period same the residential sales sales discuss at pressures commercial due XX.X% Spartan year. declined our record weakness is in assemble XXXX quarter market last The Spartan
but gross full EBIT. XXXX, factors In Collectively, and these year, million Surfaces sales $XXX.X the grew primarily and year million senior quarter due last from education, hospitality XX.X% XX.X% fiscal XXXX pressured declined on Spartan's focus to XXXX, sectors. compared continue pressure and living million to margin gross to fiscal health fourth by margin EBIT $XX.X will rate. to to fiscal $XX.X on Spartan in In fiscal the XXXX, care, Spartan
these flowing profitability growth for discussed, long-term are where is greatest. previously As of high-specification commercial the and the market opportunity sectors
more These and have to making sales attractive quote high in conversion reoccurring to continue We particularly that sectors rates, investments generally representative revenue those profitability. sectors us. are in to growth, important plan most
support XXXX. scale The our XXXX will growth continue share and making out Spartan's about to with near-term and building we be market flat plan infrastructure we Additionally, to impact investments Spartan's are objectives. long-term EBIT to achieve EBIT with at necessary long-term profitability fiscal fiscal rate expected
market sector. nature from are growth However, reflecting cycle they distinct that familiar of note the investment our you to significant and return years. are within many our critical business driving what operations, timeline in coming the the of to important commercial differs retail and and opportunities the commercial with share It's
This nationwide service a Over disruptive specified to delivery sales establishing long superior become and comprehensive aims by nationwide. network. high a specification products provide to Services Spartan leverage availability, leader relationships industry would flooring network and strong commercial the the term, in prioritize
turn me call the now Bryan. to Let over
