quarter joining on Good you, this everyone, for morning's morning, fourth call. David. earnings us and you thank Thank
structure this with be We to morning's going you are follows. very could that We're glad discussion as us.
be an start details. hand walk fourth, I we the about on XXXX; will will results; third, will to second, key for will will After fourth our and call strategy that I ahead would and of I I their the our to respond fourth distancing the strong to and stores discuss Then to any throughout by through review questions. opportunities our acknowledging outlook X.X our for like and will social and First, share see financial XXXX. and us; happy initiatives. review was Burlington environment talk This safe in my indeed, we of the of I I our protocols update market safety to providing store teams over in safety execution provide in with stores QX that, quarter John associates attention customers quarter our critical our supporting a to for our business. to
Okay.
Comparable up provide to versus January. sales store in fourth So in XX% sales talk We some the about flat comparable December of were on detail were the this positive results. store month-by-month quarter in drivers flat I would in XX% our let's last and performance. year. November, down like
call, third As warm we unseasonably that believe by we driven in the quarter the weather. discussed weak was trend on November
of the Given than our strength the store our the retailers. the month. primary legacy sales for XX% most hurt our the decline warm comp tends other This outerwear, driver and traffic to of in our weather and usually particular more fall was in sales brand
the over comp reduced stores limitations. in these pleased sales to environment. in our great some improved cases resurgence country plan sales in December. the despite with the internal trend improvement The limits above in to Our of in our in faced operating December normalized, markets. across weather December, a many our that external values that and were we in lower December, major in they hours given We occupancy We improved found the traffic and meant trend customers COVID-XX flat this merchandise stores. significantly as improvement chased We sales responded particularly million in of $XXX
primarily was to sales and further accelerated that chase to all, to performance, this matter the to But merchandise again, trend stimulus-driven. demonstrated our deliver value most – in performance of react ability this comp the our XX%. customers. believe to no important Our strong reason, positive to We great
was a freight expense. which in approximately basis XX XX QX our Our pleased increase merchandise increase the gross in point despite points, basis markdowns. basis very with by primarily point in up I margin driven was XXX margin, was lower
receipts Our fresher. are
the able great fourth stores We down and we values faster, turning these to a store quarter to merchandise in and buying flow sales the XX% on inventory our was At our in-store and basis. faster were year inventory end, of very were are levels capturing trend. environment to are finance margin The terms. favorable, to fuel ahead-of-plan benefits we comp
a at in-store we basis, our XX%, with and down This less point significantly year on stated a is year, last same are two leaner inventory strategy the deliberate reminder, consistent running inventory. As much they business with our in-store of with operating were levels.
that In strategy XX% to but This we fact increased planned last of total originally to had replenish our we merchandise our released release increased of in was fact, to at support Reserve XX% working. sales in-store on higher, and that in-store accelerated inventory. our of inventory for January a that fourth for inventory the that been XX% end have is would into February This some the evidence reserve we early. year. basis the comparable QX, versus inventory our quarter terms
exactly have outlook inventory unpredictable. over variables in trend These rollouts, refunds of for very very vaccine into. impact to that is have control of are like for. the visibility pace these The intended little dramatically our timing direction. stimulus, The sales the could and tax what virus environment is additional XXXX. would either this for course, remains potential the spread and I to we of federal variables all no Of now consumer mutations, turn reserve the
be to fiscal As lack we planned is compared reporting John This will discuss comparability will fiscal later a fiscal in our the results. XXXX XXXX have to in and XXXX. avoid we of call,
the comp this just understand baseline. a have then ability to flattish demonstrated assuming a for back to about be ahead we intend business as If our see a now to us. We we are flexibly. stronger out And XXXX can is market very conversely, sales we necessary. XXXX flat, stronger to turns to manage during is to it of trend. that would in than For if I but course, internal exciting move compared is longer QX, baseline we on that the that pull talk opportunities chase like our comp XXXX, planning to important purposes, share term of
now, For the an pandemic predating full acceleration believe additional of We of closures drive of e-commerce demand the and the have share department the the consolidation past trend, retail may this to of further at bricks-and-mortar stores. retail sectors stores. pandemic, expense many off-price market been gaining leading years price long and that
our about what a on before, With care all market but love. they that that physical value-oriented especially shoppers, that off-price. stores described said, they have they spending we about, find we more or is share, shoppers As other should, way finding shoppers as will time-starved recognize their these close, believe more stores shoppers item that we that or many brand, anticipate the an cares of value we affluent, online, migrate to none style, as our in their of great shoppers, will more
pivot improve ability strategy our X.X. is on Our now deliver value. offer X.X focus to this and Burlington to updates central the Burlington and our objective like merchandise I great of some to would
fast I relative by our was core of floor fresh strategies, and by primarily as in said to inventories, traffic. tightly customers lean the as earlier, value to possible model managing store execution receipts our delivering getting liquidity, strong chasing the As to receipts Burlington performance based sales, successful our buying sales opportunistically, and expectations flexing our believe X.X operating on QX we great driven
As XXXX, strategies. we improve refine execution we continue ways will these our to key move of look into and for to
the of value merchandise our to enablers great and capabilities. long-term is most important One buying customers planning to invest delivering in of
pursuing call, a and mentioned our I plan multi-year organization. major for in planning our buying As growth November are we
We are merchandise will West much happen next York growth Headcount sales. all buying locations be grow years. City will these and we'll and rate at in offices. our our few these buying in in than each significant This faster both in our across and will be fold this several categories offices. especially the New heavily Coast The expansion growing a investing organization of capabilities, in
is strong estate ground that to presence the on want partnerships. expand that, further to develop York recognize these We stronger real and like New a achieve relationships have update We key to and we on vendor help having in The today, our Los us but I would provide final in strategy. very will City some cases, Angeles this.
a As real year have done teams estate discussed lot past in our our and XX,XXX November work store prototype. the foot store square a operations on of on call,
excited this about are We prototype.
and that grow the time, our openings. of in prototype a-third We new XXXX be openings smaller will in of format, new our to expect store this about will this represent majority store that over
locations to prototype space. has in-store pool providing key smaller Of course, sites the open important less enabler is When margins. inventory, you more significant and real and around The operate smaller States. physical potential the higher to with of profitable leaner benefits, inventory need prototype economic operating provides moving United in less to increasing benefits, costs also of This occupancy lower strategic you stores the to the in-store estate have opportunity translating levels. this
previous count excited very goal we potential from X,XXX are stores raising on these to our that factors, are store based to We our long-term stores. of announce X,XXX
stores as XXX began fiscal we year. a we this As had reminder,
So or stores stores. moment, describe XX a XXX new of to and new back approximately in runway as clearly, while this we net relocating open John a XX it to year, opportunity ahead closing we plan increase stores will Bringing for us. have lot XXXX, total of of in approximately a
to year. of Moving each forward, will openings pace continue the newer evaluate we
to to John financials. call provide turn would detail the I our Now, John? on over more like to
