below guidance Good exceeded fourth despite coming Thank our quarter, in morning, you, our our the In expectations. EPS David. sales everyone. Adjusted
per were the XX% versus prior and total adjusted X.X%, Our comparable up increased store sales share year. earnings gained sales X.X%
to detail a fiscal sales result and increased the quarter our XXXX, the more will financial moments. we several comparable up executing fourth have the over consistent EBIT on sales discuss few past solid in That the we margin remain Our for years. that in results, driven standards, said, achieve not comparable was did and that strategies store results company and highly focused store
of in highlights X.X% growth on fourth we and our again, this of achieved X.X% XXXX. respectively was older store increases of consecutive low store positive to achieved Turning aged by quarter, and top quarter the and of of comp sales of and X.X%. fourth comparable sales XXXX was improved Inventory days quarters the our XX Once inventory levels record and turnover comp XXth
XX% new gross new new our in Our opened adjusted stores, quarter, net three in bringing the and our grew highest and stores XX number the earnings XX history. to total per we openings of share fourth XXXX store
highlights on to top our XXXX, our year's eighth comparable Moving increase consecutive store the positive X.X% sales X.X% increased growth. store comparable of sales marking last of of fiscal year of
and points basis pressure, of increased EBIT XX on higher offsetting adjusted margin point wage increase. year's last top Our freight than more XX basis
$XXX per XX% repurchased original our down million shareholders, significantly term grew our our on and balance and to strengthening earnings adjusted XXX we made as Our share and stock strides guidance significant capital we loan. of sheet million returning our ahead paid of
business, sales said, cold ladies heritage respectively. nevertheless two broad a comparisons, a and and difficult comparisons, our guidance. most the of Xnd, February store Xrd, difficult XX-weeks areas the weeks based, we It and shortfall ended XXXX results specifically two weather versus that focused fourth As XX disappointed X.X% XX.X% of the in That quarter our February store quarter important the fourth calendar week, our represented up sales sales one comparable X.X% is increase Despite was apparel. not was a lines were below ended that note reminder, to for the in year comparable comparable quarterly are our the XXXX. our
of end In guidance comp negatively XXX fact, comp sales high impacted points. our our exceeded the over sales as store basis comp sales excluding by two these areas these categories
these on disappointed moving will that chain, X.X%. weather performance businesses I down taking our color cold the as were we the more provide underperformed of areas two well as the We actions forward. copying Next, corrective are
of As you more long weather planning years our now, have total build important penetration business. know cold we we for to strategically category it our is de-weather more our business. for foundation term a to down stable, number been as believe strive a We
sales did quarter, we our weather fall conservatively of While the cold plan categories short for expectations. the categories in fourth these
In start business levels low. the We weather addition, October into too got inventory in significantly a position in were early last pack Unfortunately, mid-to-late and when December, hold cold better and warmer back temperatures our we strong year. in following hindsight chase into did were coming than the November. season a
pack As to our fourth of increased hold we'll from you've at year's we pack taken steps ensure end and and seen next for higher have hold weather this the levels year. quarter, and more levels of cold appropriate have
more inadequately better sportswear prepared candidly once in our trend, later ladies again, business active, the issues fourth our merchandise categories outpaced also overall fell will in We expectations. as our short being my challenges areas face to apparel strategy heritage certain our in but ladies and well driven discuss classifications. detail I remarks. in of by continue and We apparel positioned these as quarter. content experienced in in Missy
increased terms during comp store monthly key November X% performance, December. holiday of sales In our two period our and the month
we had trend similar our key a off to drop stores. quarter again, in sales of fourth performance retailers, a was our new in driver other some Once January. However,
$XXX that three and stores of XXXX, non-comp fourth total quarter the we Toys “R” for contributed Us our during new in three which quarter. former were the the million locations November. sales in opened We Our sales increased as X.X% opened new stores
seven fourth the XX final new count the closed stores Our of final opening new the was store our that for count XXXX six we forty stores. was at store stores end quarter, with net gross
XX to net for our openings count XX us for year. be XX new again, setting expect to approximately or and open pipeline, the gross stores, new we relocate meaning XXXX in store is new store store expected for a record fiscal Given our once new stores robust XXXX in stores, approximately close
the availability continue We of site feel very very remains favorable. good about attractive locations estate current real environment to as
mentioned new fourth contributed stores Us in previously, bankruptcy As Toys of three the the XXXX. quarter “R”
estate which pipeline. XX addition, still the as In as Toys view at Authority former sites more and are part the over in least at “R” XX former with new XXXX pipeline, locations We least Us Sports beyond stores “R” our as that. potential of yielded the liquidation, Authority four time, store opportunity Us now with XXXX Sports real significant opportunity Toys additional
highlights. category to Moving
Our including men’s beauty, by and performing gifts, driven businesses home, baby athletic were athletic and apparel top shoes, depot. sportswear toys, and apparel baby ladies
West Southwest, Southeast the and performed average, Midwest above the the Northeast Regarding chain below. comped while geographic performance, and
X.X%. Moving turnover to the inventory store comparable management, improved during inventory quarter our
the inventory plan, store achieved Comparable and inventory we have X.X%. store inventories to comp our expected would came due Although sales expected with we X%. declined comp our results higher up in ended levels than sales store we quarter lower than approximately
to future. you should by mid-to-high said, for That can faster, time. long store our Our how we quarter. be, inventory walk still yield continues foreseeable We want I which term XXXX inventory management levels unfolding to inventory turn reduce believe, the to single benefits digits through comp margin we our over philosophy see
do starting constant sales we based as QX, relates the will on point the inventory of believe it be end XXXX, mid-single and at to we of quarters increase and level the of the our expect conservative quarter plan, first fiscal at comp to normalized our be down First, By digits. similar second fiscal inventory quarter fourth XXXX to the of fourth a XXXX. of fiscal inventories the store end more
up planning quarter. and we can experienced opening single digits fiscal weather shortfall to cold we intensify our for I store inventories for inventory exit cold in and third emphasize We are quarter avoid our fourth strategically so XXXX, this sales fourth want that we comp fiscal past of we weather to comps inventories Again, store as the expect the position low foreseeable and values XXXX, quarter in record short very once digits buying inventory. levels. age that down continue very purchase that older to stay hold single able extensive we're the assortments reached again with mid for and pack be environment and away for to and Inventory are we low and high XX the future. and favorable put amazing days pleased remains to The
our year This as very of strong inventory this our ago. release have as levels press at total the morning XX% direct you and of hold was typical our a quarter our As higher percent noted XX% for result the of than versus what environment in fourth the is a buying were a inventory may end pack is us.
past this of active which depot, and hold about across Our we overwhelmingly the XX% December, product feel pack very these higher pack increased buys levels by investments as top zones. cold weather over well will apparel of best and weather, youth, hold these rectify all shortfall XXX experienced was our increase cold better are are as baby baby apparel vendors. and help branded and and levels driven and with We good as inventory
course inventory at meaningfully the at and over fourth quarter. higher great were in allocate than our the few of end centers, short our In that to distribution year which the values, levels, addition, stay reflect stores we the also store of purchases temporarily a last months
January impacted Our by is accelerating stay inventory tariff increase short to primarily driven receipts prior Xst.
of value million common bring quarter, the XXX to during of as remaining we to shareholders, fourth the all million stock had authorization. repurchase continued share end the fourth fiscal approximately the XXX million for on and XX existing repurchased of We XXXX. At quarter our we
which store long operating sales comparable Now, term and modernizing our margins. strategic our increasing growth, update expanding, include, on driving our optimizing priorities, and let me focusing you on fleet, store
remain; off businesses, sales continuing focus building improve to improving engage assortments existing initiatives both and are regard of on our under model ensure our new we underlying execution for two, our continue on growth, price our to comparable one, to penetrated the our store customers. driving three, experience And with marketing to the strategies First, enhancing as with customers. we store particular
making some expanding and key of under our penetrated We good and are Home progress particularly categories Beauty.
developing business, encouraged helping continued which in a progress XXXX very including growth strong growth to had which our largest quarter. represents XXX with sales, were increases are company. us we this home, addition, over for represented categories, strategic and These long build to still point continue sustainable We expand In our key business contributors in category strong the which approximately toys, With to penetration foundation opportunity. ended fourth gift term XX% to at home we penetration home, disproportionately gifts our basis the beauty level. by XXXX of regard quarter another
increases penetration at portfolio branded underdeveloped in to our XXXX We time. beyond. home continue see We new penetration expand categories are to and can a further opportunities several XX% least over of and believe, in key achieve we level to targeting and significant
Our sales beauty remained important elements level holiday in of penetration quarter business the for approximately quarter. gift and beauty outperformed were in strategy, peer which our to a were fragrance apparel drivers in remains come. The sales. apparel group. this sales we ladies Unfortunately, penetration in and fourth our category expect to opportunity fourth our increase key penetration the years businesses our well below as Ladies significant remains XX% XXXX at of
based of our We learnings performance. on have a XXXX number
plan on We the business. focused content the while missy are near heritage We'll In content in One be some address in in by offset growth and this look and growth changing category, heritage trend the term, business this of ladies the of overall those to our heritage for apparel trend off business conservatively, sportswear the we clearly sportswear classification issues. issues businesses. further fixed. to in will was we drops highly need accelerated missy distorting
ultimately that two will As specialization penetration opportunity SVPs and having necessary ladies we accomplish we we time. apparel can on have and the add objective, over discussed so to capitalize oversight previously, this believe significant the
see beauty, opportunity we home, sales and a penetration and In baby in addition toys. to ladies apparel,
disruption and As were above These it and Clearly, includes this relates fourth accessories. trending baby, depot, our to the have begun is few created by caused this we over capitalize bankruptcy in on opportunity very the “R” we outpaced baby the baby Toys for expectations. quarter, to growth apparel strong the businesses baby in see an additional performance opportunity has Us business years. that next
we Burlington. we grow availability excellent merchandising XXXX continue brands increase committed a last number and quality grow with enter base, to to brand our on product increasingly we our driven a vendor our by the would over as of year, slight today, the of portfolio, improve over to expect now and categories carry that vendor team, growth increase new businesses, and to community We over underdeveloped time. Moving into
saw we points. all initiatives, engagement to our touch Turning marketing strong our customer in messaging across
campaign, they our customers, or available upon our digital, story and to testimonial our real our building shopping believe are messaging in of gift highlighting TV great values by holiday Burlington. toy We direct, the expanded highlighted really customers We toy our TV our campaign, of these resonated gift at loved the why featuring ads, in momentum told assortment our the with whether in-store customers. channels, categories and highlighting successful
we a grow a share. label new There in loyalty We we stores. to this as initial private our we market customer come expand will first to are will our and our has to more In end pleased potential by the strengthen card announce program this customer are initiatives, the initiative. from be approach the marketing refine that learn loyalty, and base piloting and our terms program, believe initiative of of quarter credit which launch of approximately XXX to
drive private stores our continue ways channels our campaigns, where to our to In focused fiscal finding break being pilot, addition marketing Improving that a made XXXX, is efforts, and our stores be program When our store remodeling experience effective XXXX loyalty for of customer, fleet, remodels for strategy We increasing to and on help our progress consumer and ensure We'll initiative we us. key continues and in growth direct time, her card closed will with clutter us and reaching stores, five included success the for our remodels beyond. we significant efforts planned she our our of through spends XX due television related to traffic our of a label multi-channel issues. were XXXX completing to modernizing that which in weather to the combined see be brand in build continue heard. digital efficient our the message in with continued XX to and XXXX. store credit
store second fleet. The growth initiative expanding is our
increase environment, given open both We XX net we we XXXX and XX favorable the meaningful gross XXXX, plus new yet, estate the opening represents approximately store national over real earlier, which with are retail XXXX in in discussed fiscal and states XXX As ended stores, plan Puerto stores it pace Rico. a in XX XXXX. a to operates
EBIT to presented strong a as seed the model are point was evident evaluate as discussed before, to in at Having we've drive is end tool that This our store stores of sales our performance that model, XXXX, comfortably opportunities “R” real overtime. a point versus us, new As dynamic such reach seed confidence helped goal us great X,XXX can new strategy fiscal the underwriting again, the our critical Toys we that able quickly underwriting refreshed XXXX. which bankruptcy. and has our outperformed once of gives to we’re recent estate Us stores this
brand will along XXXX combined, with increased we have to Given three open in XXXX new expected in our have this just XXXX number We of stores and stores over our standard of in over and of our stores XX% means of our be net XXX our end years XX% plan to and XXXX the XX by fiscal standard by brand stores. XX brand through stores our gross XX remodels, approximately the are standard. now
be to Looking significant we store years current remodels, a rate of standard. majority of our expect brand openings in at and the would stores out new our five our
continuing increase also focused third our We priority margin. remain to on growth operating our
we of year. wages points XXX average operating margin rising we the points, negative per Over in by costs both approximately In last basis XX of our years, basis our an the and despite impact margin operating six expanded XX by freight. increased XXXX, points basis
all total that over SG&A years, progress, operating the have an with we this across optimizing we that we've focus deployed fixed significant culture pleased strategies very peers. increasing areas. the margin we versus cost, over inventory are deleverage and on believe, last to active execute improvement opportunity markdowns, to several continuing profit continue time management, sales, To we maintaining same accomplish our While objective, will
like review detail. quarter performance Now, outlook over call financial I'd our more Marc? the Marc turn to to and in to fourth
