Thanks, morning, Cabby. everyone. Good
Bob three quarter. Cabby As the highlights. three same-store quarters of declines. most have mentioned, noteworthy, Perhaps during third like progress growth additional believe I'd call and delivered sales indeed we after we positive made to we out
First, as the the one was we all our XXX linked This of forward. goal ongoing same-store have assortment we new number sales as progress will our stores. the on strength are majority growth move year, very closely continued we began product excited believe of to and to be our in products we
mix. beginning make contribution meaningful to are Our sales new a overall to our products
that to continue. trend expect We
still have now additional our some product strategies, and well-positioned. assortment we we While on do believe to work we're presentation
sustained be last continue three XX% encouraged over quarters. our to gross we by the of Second, margin
performance, lapping SG&A year-over-year levels support EBITDA also are sales we see share of As adjusted same-store our in expense comparisons results, of and increases improvement gross per a increased and beginning absorbing earnings to in sequential XXXX despite initiatives. our result comparisons, margin to strategic easier our sequential
designed the our continued customer key of number to beginning signs Pro a investments growth in the sales and quarter, measurable comparable strategies improvement These and traffic customer the include product Pro sales traffic success. trends third markets. of to show solid improve to in and in store during assortment are Third, signs
it more driven that place quarter. Comparable fairly performance the increased not we've Net both and aggressive to the like and next until quarter see to a up most early these it trends metrics X.X% sales overview year-over-year. of in relatively in expense increase million XXXX and period aggressive average initiatives as quarter we promotional strategic the broad-based third X.X% by were year. be of we is traffic additional to now ticket. third $XX.X I'd improvement a encouraging, consistent made the Therefore, may soft until were sales in December Traffic X, possible summarize of XXXX. important financial note and continue strong lapped brief a price our our investments is of provide to in improvement capital support we is continue in sales our during While that promotions in to store quarter. lap the
our the same year want an quarter of are While we of million perspective, where advertised in from of be certainly second seeing and was rates quarter from margin of last promotions price was the across respectively. we of last for across and improved is or online of profit all XX.X%, Gross in eliminating slightly signs yet XXXX, quarter are year. million stores. was of store XX.X% result points third over progress XX.X% and year-over-year good third approximately XXX we vintages Gross of $XX encouraging. first and many gross improvement sales markets quarter gross that basis of of margin to The the $X.X primarily our the from not a increase profit
XX% expect impact We possibly XX% forward. gross to is to in our assumption going margin rate margin the the could to recent to gross range a of item tariff One activity. continue XX% deliver that XX%
with We closely the international monitor continue to situation tariffs.
given As our well come position previously, represented. any from believe inventory we're and stock well-positioned China tariffs. approximately time, the our the purchases present and discussed levels, of XX% offset China impact we from Asia in recently currently enacted to At strong we is XX%
of one tariffs implement X. continue China increased will XX% buckets. event fall actions in contingency the work plans on that We to January three likely to These into to
to suppliers products. China First, other similar we outside will look for of
to have We possible, on prices an particularly based opportunity increase product. Second, our this upon core is we feel customer certainly non-comparable demographic.
and cost look expect offset Third, our structure. price the in cost cost elsewhere savings or absorb extra we to the sales increased for can
associated administrative costs quarter the QX million approximately were was full year million. quarter by $X.X six months. million stores last with increase from for expense selling, general $X last and new driven costs of of a The $XX.X opened the over Our for XX of
new in management the $X.X our In initiatives. third build market redesign we've this site expense out capabilities. To Pro new regional date addition, these strategic for XXXX our store compensation, of of of $X sales investments, planned included center customer million approximately leaders, wages, relationship year, the managers, and quarter Web in of approximately invested distribution million increased
store regional develop sales We year their expect be quarter in due the sales run and the continued compensation the slightly to of rate our for final of lower leaders teams will sales focus to increase further the productivity.
store Act with quarter openings in was rate incurred an our XXX Income during final and the decrease The to $.X of of balance concluded We not legal costs $X of the with Cuts during due tax XXXX. XXXX. securities of primarily our the million we tax the stores. do for additional litigation. the expense XXXX. Tax the compared Finally, more to resolution anticipate quarter XXXX Jobs overall due for third of the quarter was any of third We incremental million $X.X million derivative quarter
to expect in Looking to first of stores. open we least at to do minimum we XXXX. half At XXXX, the X open plan a ahead stores
third $X.XX. will Adjusted compared XXX earnings an earnings store in We $XX.X provide full-year EBITDA and last call. year. the was a EBITDA million the quarter. for decline was $X.X XX.X%, quarter share Net February our our to margin third point update Adjusted was plan was per opening basis million income on on XXXX
our to debt. $XX with we quarter million Turning million of sheet, ended the of $XX.X and cash balance long-term
from of the product debt million approximately quarter million by second million approximately from assortment. $XX quarter. the $X Our Inventory to second due our increased increased expanded $XXX.X
in of assortment quarter most XXXX. and $XXX remaining few range on pieces product introduced complete, year-end, lines our for the the inventory work product of is assortment strategy in million complete at we to we now $XXX the the While our million expect final as new fourth a product
will becomes merchandising, were of normalize Looking continued inventory assortment primarily in the new our resource to store $XX more number our SKUs quarter, Capital planning and system. related remodel we including stable. anticipate investments technology ahead million the to XXXX, product expenditures approximately as during on work store enterprise
investments of XXXX our As full-year at planning CRM million enterprise originally system, estimate higher fixtures than Cabby will includes and including accommodate approximately a our $XX $XX expanded our million. a the merchandising of mentioned, to we approximately product spending now the to planned be new capability, site. resource specifically This various for strategies, slightly XXXX assortment, capital new support redesign Web
store is to of ahead level closer the expect is capital Looking the of baseline, we to and that investment comprised historical that XXXX, typically remodel CapEx. primarily new store openings, maintenance
is a XX% capital ended over XX% compared to margins approximately our September same increasing eventually EBITDA adjusted was quarters Finally, goal of XX%. greater than XXXX trailing Return on capital term generate than X% the a greater four time to as employed to employed on for approximately well the longer period XX, return as year-ago.
key and recently sales Our growth. to single-digit in we is same-store improvement our most mid as over XXXX margin see the to sales happy did EBITDA sustain some nice improve and OCE delivering continue next begin years. in If several With that, are our be goal, we growth. that same-store will goal. the XXXX, Sonja, questions. That both accomplish our your to adjusted able then goal take to to we're and we is should But
