our everyone. hello, our to how to quarter first for of to fiscal performance wanted I start XXXX. investor closely am I of like by share share more financial a story. would with Dave, you, help excited the Bloomin' providing Thank our community recap and and work I
QX is included this that not December include QX a in year reminder, does high-volume As the XX, through XX week December XXXX. of
benefit of offset positive impact the to we sales, down X% value-added of points The XXXX. by restaurant impact decline last Brazil the profitability. negative and negative December. in that XXXX. are a comparability the the and weather Total negative tax decline in basis and U.S. year. sales value-added by The tax in results which of January, This $X.X shift our restaurant from XXX in basis translation. ended openings Additionally, Brazil was lapping exemption, partially was affected which points. impact billion, revenue a primarily driven was net the traffic exemption revenues have comparable comparable XXX were currency in was negative restaurant which is QX foreign Both calendar and impact loss closures includes on effects and our these both week negative of
in the sequential Importantly, Average beat quarter, performance. After for point basis outperformed industry. a the QX point XXXX. improvement basis XXX on January, our the we dining on this in was versus and versus XXX beat X.X% up saw casual a a difficult industry traffic. check reflects And sales we
We consumer QX to the some walked other decisions great in customers XX% that are value in we of you appropriately higher balancing approximately From period to competitors standpoint, will total inflation. our believe business was a of while continuing a exciting LTOs U.S. favorably our Dave the pricing support value delivering industry. off-premises guests. sales. compare to to our bring through
third-party was XXXX, catering. sales, incremental up by XX% was highly QX driven which of the XX% Importantly, business in total from growth delivery U.S. in
by reduction in note the GAAP This positive the per was to diluted in driven of part QX per in quarter convertible extinguishment is on $X.XX our negative earnings of obligation. earnings debt for share $X.XX share the Our loss significant related large XXXX. diluted versus
diluted of related GAAP are $X.XX share contributing decline share share impairment the closing diluted restaurant QX restaurant debt number and factors well adjusted and in due this Our the will diluted lay versus year. is difference to to earnings QX X.X% earnings XXXX. adjusted margin last earnings to out. extinguishment X.X% was I per There as of them $X.XX per between quarter, on a was of primary per operating the as margins the The versus loss closing initiative. costs and adjusted adjusted
high-volume in are or and approximately on We points from traded Christmas the in XX the points. shift weather headwind January impacted basis Year's there between March, following events. the comparable First, week negatively The X.X% calendar in weather approximately and quarter. the sales XXX week margins basis by New was
with unfavourability. this investments Commodities was by us advertising cost our and a factors have margin to which to our even Labor to restaurant QX, margin higher cost basis benefits we with This benefit, contributed pricing spending tax value-added There year-over-year, was were levels due importantly, year. Brazil growth. have levels points last Other made the year. driven $X X.X% this were additional consistent lapping of the inflation in more QX. X.X% from beverage XX over and that Depreciation supply partially of drove initiatives. increased partially we additional elevated and are few QX. year-over-year in conditions. we remained inflation in previously, costs offset chain wage in somewhat food maintain also Inflation support Most discussed difficult As also versus for in up by the and that map years, expense past margin and million spending gains due operating favorability to up market road was productivity expenses infrastructure was inflation of capital quarter.
the share Turning financials capital note the our earlier retired balance This $XXX leaving Total convertible underlying in million convertible QX. activity structure. was $XX note. significantly approximately The to the convertible accelerated is driven share debt variable repurchase of removing dilution end strengthens $XX of by million at by the quarter. notes, higher the We our remaining. and million
compared elevated liquidity. of very to our and While we levels pleased are our still leverage metrics total QX, are levels debt with
committed ratio or Xx. of at remain we adjusted Importantly, to below our being lease leverage
million a the $XXX million. with terms with repurchases, Year-to-date program X.X million the repurchase end into of share in April, previously agreement notes of shares connection In for through $XXX earlier repurchased XXXX quarter, repurchase have we repurchased. of included approximately we program. share of a share this stock total shares convertible that we entered our announced This accelerated associated
share quarterly $XXX $X.XX a is that also May million The We remaining share have payable authorization on under our program. XX. declared Board dividend of a
and XXXX year full our QX to guidance. turning Now
We earnings our guidance share and are adjusted reiterating our U.S. call. comp XX earnings on sales per February communicated
during to repurchase reflect count updated activity our share note and corresponding quarter. share have completed the convertible We expectations the
on diluted $X.XX. range change, the adjusted not January. provided between and Currently, of ranges. the earnings we U.S. be factors did expect lower The trends the impacted reiterating several guidance Our to industry following expectations should range would lower There guidance reflected our guidance. are both trends we finish the per industry to and the our end EPS critical share are on and uncertainty the of sales $X.XX they end of continue, on and to remain weather this delivering comp
and the in we stronger are marketing trends standpoint, to a will very back be the not promotional half. year pleased we First, therefore, They we especially versus as ability begin year, marketing large a outpace and challenging date Outback their calendar lap the increase last to to From industry ago, a with have in started QX. QX and this in the increase early will dollar environment.
calendar in largely negative of $X.XX the shift is recaptured experienced QX QX. Second, in
Third, XXX points. basis decisions we pulled forward increase earlier which to we to expect the benefit the year, average check in by pricing
improving Outback, seen and have in technology operations. and trends the stemming investments service from execution We in at food
all encouraged our the volatile, in We share reflect we and is challenging to Collectively, commodities to to great have beef environment from seafood, that time ability trends these X% value are our Fourth, actions know in by market somewhat offers are we We to as to of are manage we year-to-date. favorability inflation but are guidance strengthen our in our continue seeing we will limited through customers. lowering compelling differentiated beef offering program. this the signs at Outback seeing and the X% while our X% for stake take X% equities industry.
continues XXXX, restaurant up expect And industry. As be we be second points of the negative to news to traffic to to we quarter, quarter be a is basis. industry Outback XXX to comparable sales it basis comparable a relates calendar headwind. on U.S. to expect flat the the The the for continues while outpace good
We be diluted to earnings adjusted between and expect share $X.XX. QX $X.XX per
Brazilian versus share $X.XX exemption XXXX. update removal to QX headwind is did the Importantly, the legislation of Brazil. critical a in We on of a in tax tax want
into and and this benefit recently Senate. into law New could was House company the both of be tax legislation legislation our If the by passed by the Representatives positive for the Brazilian XXXX future. President, signed tax in a
our still potential impact are including exactly what working We not through means, this included has impact the to guidance. our in Any been current financials.
know We when our focused Outback executing will strategy summary, In importantly, taking challenging is XXXX. environment a We we updates and against navigating on remain provide we more. are share. successfully in
up remain necessary take disciplined allocation. We capital that, preserve questions. financial steps the and our our will And in will momentum, we will open with we call to for the
