you, Thank afternoon, everyone. good Dave, and
price as objectives. quarter we're execution expectations Dave driven adjusted well with ongoing in our of As our our an as improved of business, margin transformation full wholesale disciplined earlier-than-expected shipments plan by delivered results management pleased execution overall channel our guidance above and expense discussed, second operating as and sales we
our Turning increased X.X% company our million of the demand, company been end capitalized segment inventory has meet year-over-year sales to of Rebecca quarter Parker detail. Taylor more net wound to resulting included which for in quarter wholesale increase segment, by on in results sales second the which XX.X% quarter. and an availability $XX.X $XX.X was a fiscal now we immaterial down. second compared million to earlier-than-expected in at XXXX, The as of net shipments amount from to in total the in Total the driven increase the our sales
renovations. line our total with impacted would in And our the year-over-year basis impacted expectations, ongoing stores have lower as sales the by markdown with pull well in full-price decline points end quarter. our our guidance was despite lower from primarily was remainder negatively as which to due in of sale was for later performance more sales given of Dave by benefit by reviewed. X typical full-price direct-to-consumer the period shipments, Excluding XXX line one expectations outlet back industry, the the Store being decline wholesale XX.X% This stores segment, closure of the stores temporary our been the in in promotions of the closure our these our as an attributed on period. a X to results channel as performed to particularly the and closures part direct-to-consumer efforts of underlying offset earlier sales of the partially
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points of basis and in XXX $XX.X unfavorable impact full-price million we agreement net in with the net sales points Group. with of pleased the million associated business and net sales. $XX.X XX.X% quarter we're year. second sales This to compares noted, due in was mix. or in or last and profit XX.X% are Gross of by second or driving. occupancy XX.X% sales the of basis the lease royalty in Dave of in related the As million Selling, primarily XXX The million channel XX.X% quarter last transformation partially was higher for freight or year. of administrative Brands basis $XX.X costs, to actions factors $XX pricing second offset year. lower the compared mainly was lower were SG&A a to net activity, The and our dollars as general increase by adjustments Authentic were $X increase the margin from expenses points million driven XXX plan.
These licensing promotional quarter in driven expenses costs, driven by of with increase by related rate approximately quarter part lower gross rent discounting, to to prior in
in costs compensation the severance of to transaction-related the year favorability period.
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due timing cost same QX to million operating down million operating incentive business, dynamics second period Taylor these management.
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Following the of a quarter fiscal second Vince transaction-related in expenses to Group of gain sales XX% of the Authentic Brands the brand the completion the company of IP XXXX, and million. $X million $XX of realized incurred
the basis onetime basis in taken XXX about of actions period compensation as $X.X favorability the operating from to expenses prior these related lease from in as year, points incentive income XXX our severance program. items, adjusted basis XXX adjustments the prior compared margin approximately operating primarily a Excluding driven well to was year by point reestablishing structure declined leadership our streamline points million.
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Income $X.X income the benefit as our year. year-over-year tax will annual related ordinary per was year. for tax XXX the the prior as performance the in net onetime fiscal In XXXX and the in quarter for income.
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per Excluding the $X.X these loss in loss second was of million quarter $X.XX. share adjusted fiscal items, net XXXX a of or
last to Moving at second was the the Net million to end as the the second $XX.X quarter balance year. of the $XX end at quarter compared sheet. inventory million of
products million to to to As inventory single investing we're are inventory to on continuing take committed approach up expect we wholesale balance help wholesale low now the expect we as through to best while in continuing for amount XXXX will fiscal in of stock a a our of sheet in in back the interest delivering existing seeing our fiscal as have cash our seen spring we factors that the and stock, XXXX increased release. made our manner, we The into shareholders. many are growth execute to to The based are the we dependent on for future selling disciplined demand and with price free season our XXXX be be success and is to company timing, for model, investing for support and detailed authorized to digits any channel, date expected be up our cash in to healthier flow. partners.
With place, a repurchases the has growth value program $X common repurchase operating to funded of Board
to balance now outlook year. of Turning our the the for
business favorability And reminder, have are like-for-like down As be full due fiscal we first expenses therefore, comparing with expense Rebecca and wind of will more of noncomparable of periods noncomparable quarter XXXX, starting we will the royalty model. in anniversaried quarter a our a the third which Taylor. to QX
season in this in a into a the we're year. to perspective we're able inventory approach liquidity healthier more for position much a and from fall balanced invest In much year, addition, this
fiscal flat which expect DTC QX relative to XXXX, disciplined of expected total to our earlier-than-expected in low timing sales This well the channel. QX net the to down prior as be of ongoing shipments, year. digits the activity For account expectation single into we benefited as more wholesale promotional impact takes
XXXX margin actions we approximately we these while to they of the compared business. better support said, basis top margin With year's near-term to increase have on last X.X%. QX adjusted respect operating to margin, impacts our the fiscal to points health XXX we operating XXX As expect long-term have operating believe of line,
disciplined improved to to deleverage SG&A the primary from drivers and decline our full be now as full a compared by promotions transformation impact in offset to operating the single-digit penetration, year range of XX-week fiscal fiscal initiatives expect price the the somewhat fiscal We XXXX which XX-week margin respect is our net incentive compensation.
With sales outlook, low reminder, to of increase, XXXX. we a total expect year, the
the has DTC changed, our for guidance revised have expectation channel we wholesale not our While for embedded channel. our
While to now reviewed.
Despite seen to a it margin an improvement XX the increase the in given more around outlook points the September, approach trends expect margin. XXXX our Dave to our half operating conservative take we heading heading fiscal consumer XX adjusted environment into into we in as basis we second prudent revision operating to uncertainty sales have compared to outlook, believe the increased adjusted
We expect the our and in to points which part XXXX, incurred transformation this the XXXX to period through through gross approximately disciplined and margin impact ongoing of efforts. fiscal driven in were management, offset May by margin royalty basis not expense performance expect impact expansion by comparable XXX headwind operating fees
expansion the As of results better-than-expected with progress we're transformation we the at to delivered plan Dave in are reviewed, year, especially we margin with midpoint are the pleased the date. making and seeing our gross
cadence the transformation cost the come pricing, efficiencies by and half compromises expenses. with total targeted driven no product promotions about from improve discipline initiatives to of our savings of reduce to and to with improve a operating balance quality plan As the from reminder, are expected
of opportunity are we to confident in long-term I for call to to plans believe continue the it the deliver profitable to us. over open growth.
This front questions. in see remarks. now in As and look our our concludes this we we will turn year, beyond the operator
