financial review note. our joining for positive an today of you We update on us Good business Mark. for Thanks, our and everyone and a thank morning, ended on a results. XXXX
progress. Our fourth show quarter continued to results
improve. still room to we have However,
Both sales quarter. from improved primarily in at sales store million XXXX. due growth comparable X.X% is and during increased The sequentially Our the overall sales comparable conversion. mostly fourth Sales $XX.X improvement third increased to customer an we’ve our are believe year-over-year. surprise number the the improvement many of X.X% limiting trend this of stores to of growth store traffic are our numbers some the over quarter, to customers pandemic. In that a as still seen traffic we down trips last during but improving regards, an quarter tied isn’t the
we our impact to the and reduce In there our have structure negative a traffic. in are from certain decisions tactical addition, both have perspective had light on of pandemic a made that expense
to operating a For we Sundays. stores reasons including number April our different been of have key being reduction on when decision hours XXXX. most half our second at optimize of at SG&A of of was $XX.X the example, a to contributed levels for XXXX million catalyst reduced collectively stores for ability made to compared XXXX stores. in staffing It our a This including all closed the been has our that since expenses
the by during the income during During period, million increased second net of net income of second loss to XXXX. $X.X of half our this $X.X $X.X half from a net XXXX of million million
adjusted EBITDA $X.X Additionally, or half increased second our XX% $XX of XXXX. million to by the million during
pleased with the this profitability presented growing despite are and the We traffic in sales. to dramatic improvement headwinds
and During an in had back our store were test intentionally deliberate with during the we our able to the ensure to customers staggered the select in quarter, quarter, evening were option to performed we the fourth This to visit changes one we days stores stores. levels, is markets. change helped to that We opened add hours these in two fourth a always many minimal incorporate were changes by stores very markets. of our cost these our a keeping proved across evening able evening our to make end these beneficial hours test and adjustments the down. the staffing of thereby nearby be in to those with The to evening plus,
quarter of XXXX, select stores open to on During Sunday. we the first starting are
the open our we when levels store a We staffing to decide are Sunday. increasing on
chain supply been our many has by like other COVID-XX. affected retailers, Now,
the third stemming certain experiencing of tile raise the replenishment XXXX, from of suppliers. orders During international started elevated levels from quarter in back we
we During challenges did sales. continued similar the fourth our to and adverse experience quarter, this impact have on an
of products. we with had delivery We sales At expense to of our of are priorities. execution, back XXXX, with order professional beginning suppliers customers, network the three retail secure Focused our management. and working disciplined closely growing key
While a operating now our for We cash as in free model COVID-XX these our our requisite debt to were to a on generate us significant significant is have during flow. off had substantial many impact with to retailer debt the we the that fourth that quarter. a our fully of generated cash achieve priorities flexibility underlying view financial built able ultimately pay business, goals
move and for leveraging into stores. at drive growth growth significant plan believe We focus initiatives revenue our on opportunity we XXXX, aimed our existing priorities XXXX to to driving sales we of is are key Accordingly, As structure. within focusing there portfolio our processes. With expense our that to a respect believe and we on store online stores grow first purchasing our execution our level. dependent retail our ability refining execution; our ability our at enhancing to distribution on experience; customers’ improve revenue profits and within priority, existing and to is include:
delivery the made in our including, discounting. many collection have rates increasing over past We areas in Pros loyalty improving of the year program, strides our and our enrolled number significant customer reducing
we improvement. continue is While opportunities to meaningful encouraging, see for this progress
our laud technology we we to are proactively way leverage we an through enhance interactions, investments calls example, our customer the communicating to with customers. believe activity For monitor and opportunity ensure to grow we have follow-up
a to improve will have in to key We retail the like to I revenue. execute this stores several way we our and identified grow execution continuing believe catalyst on opportunities be focus
best enhance for doors in high every who walks the experience. priority We customer provide online our to website. and through visit second our customers’ our service the to have customers our to when same industry aspire our is we Our standards
start Now, than online choose their will customers inspiration, seek options, and they more the to journey with. weigh our ever, partner work
online in-store experience better and their our a online and enhance customers’ have experience. identified number to We of integrate opportunities shopping
the one of Visualizer customers our sales a online, steps our Tile and and create their enhance different experts. are room recently in periods. from advice design, For project ability the gives are in the their foundational options taking that talented simulate tile we design save solicit improvements I to driving website launched believe traffic our future to and to example, we our
final for priority XXXX is Our to purchasing our processes. refine distribution and
of earlier, working As address our levels with are I discussed we elevated orders. currently suppliers to back
with was we quickly hours stock Now the as much pandemic, and we suppliers have as this of out control reduced of appreciate of dealt due shutdowns of they to as possible. but that the eliminate our to government out
between identified reduce outages to to each have we our more the of location. stock centers level opportunities Additionally, rebalance distribution at efficiently inventory
We rates the continue of product maintaining we current all leading our design source gross margin assortment to ensure categories. evaluate while our of targeted across and products trends, on edge
to turn entire Now, I call rose employee our XXXX, as base customers. to to our believe in entire challenging and occasion, vendors, I before you team Nancy, over I suppliers our the a Thank as members our our well to particularly, despite want that the organization, reiterate stores.
Now theme the for focus. XXXX is
existing of management who to the call We now expect our will our turn to the increase strong portfolio stores through take expense while Nancy, of I’ll some the controls. you details. over maintaining financial sales Nancy? in
