Thanks, Randy.
XX% with business $XXX.X revenue on also million, the As very representing $XXX.X during strong of continued the just performance million license and XX% we're last quarter. sales of increased pleased quarter growth Total second sales of $X.X our year. same to heard, revenue across Shack you've the million, with of growth XX%,
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strong $X.X remains average trailing volume sales XX-month quarter. on unit at weekly average the basis during with of a million $XX,XXX Our
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three will we next our be partnership our in year. guidance degree that volatility the reflected period, mentioned, work we And delivery is with delivery company level through the across failed, our Shacks to as Grubhub operated which we of our the quarter. Randy As the integrated for system expect over updated to transitioning two in
quarter digital impact positive fourth year-on-year from channel Additionally, and get a lap performance, busy holiday tougher period. comparisons the during in delivery our the we as particular strong weather in sales
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and new our market in licensed evidenced from our guidance business well as also this as XX% and Furthermore, $XX our Randy $XX $XX the new our to $XX our XX% an unit XX% strong to openings XX% million. increase with extremely licensed quarter guidance million net time between perform to raising And million at results, between for raising for we're to some continues revenue year. million second year, of launches. prior and licensed mentioned, guidance We're the
important One side note.
with level this Shacks do performance settle impact more in some we're pleased the of from these of large markets expect initial including the part see these more While year. in a levels. of of expect we that decreases come to new expect normalized of honeymoon extremely performance acute XXXX, Mexico, to number Singapore, into next sales we our In see they one as business, in fully a performance and this Philippines overweight we down particular, Shanghai, year an year, into to
million. prior openings of $XXX revenue many seeing opened this between totality, strong these we of shacks in $XXX back the half at of to year, We're million, guidance from guidance our $XXX our are our in past each factors the over and million really raising $XXX XXXX. for Taking point that to of million total some XXXX up including
Our pro level. specific very Shacks they settled then some sales opening reach Shack, normalized that high we in often experience first estimate outperform year, sales forma more off class the as of Depending with on leveling and volumes. initial
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food quarter levels in which Shack paper as in of We higher staffing XX.X%. on the labor XX.X% Shack Shacks level quarter, profit on in to both, launch our of at well end some Moving second to both with line. in XXXX, pleased operating the profitability. prior which the sequential as and a $XX.X costs, level which Bites, significant the opened level operating the negatively meaningful saw impact headwinds report our of first had We're Chick'n that impacted from in of to improvements million, improvements year margin Shack the increased profit and
operating the we're time. As quarter from same XXXX, to a to the margins identified reminder, year, called particularly when of quarter comparing and second benefits Shack two last we level which down lapping
to these Specifically, related as the year. rent margin company second benefit our of biennial a sponsorship points a basis well quarter to preferred as to points XX level benefit adjustment XX our basis non-cash our and point costs XXX retreat, funds last in occupancy basis Together, paper represented for to Shack food operating line.
and new occupancy consider appropriately In real which also way order January, quarters' year-on-year impact changed included we lines lease line implemented accounting that it's our the this of new lease quarter we've the capital standards compare accounting within moving depreciation included has explanation to previously this the decks, in sat last has in the in performance, supplemental reference. been primarily. further we and impact the to important for the leases, the of two the account for service A estate again interest of and costs
quarter costs further or some second to in from on back around basis paper Shack point an XX our Getting benefits the represents a sequential and percentage of of taking Food I the sales, year operational QX. increase underlying XX%, adjusted details when were XX an into performance quarter. the of in This a XX prior points XXXX. mentioned basis consideration basis just points improvement as
throughout with the supply the uptake chain the increased pricing, quarter, quarter since than of worldwide into of as feedback an effect as on Chick'n the continued Chick'n food impact the Bites, the pleased beginning quarter. came and increase costs, guest material at improved nationwide During initiatives, with driven we primarily on less the gradually which We experience Bites albeit year. remain prior in by well to
time menu areas, and it long listen stays we'll Although, how the assess on. as and on like those goes learn all
in premium Although, is from meat last margin a particularly basket, that item breast high chicken fresh, whole quarter, seen improvement we've our free, cost the quality anti-biotic sold. we
impact of saw basket the dairy to across beef our addition In slight and both overall Bites, during Chick'n quarter. inflation
the beef of the effect COGS cost overall continue across we're Chick'n the as affected improvements half second of supply continued the be the material overall And albeit see improvements for to remainder changes of prices always, there should The in not system. to take profile the extent entire as expecting Bites this move, chain our year year. will
saw remains continuation in in Labor in something Fair related across than and New hourly direct result Shack as we as believe of basis to Shack in a of been and we increased cost and a updating both inflation packaging paper especially with more an City of for channels legislation, seen testing and sales, digital grow, significant digital trends has off-premise the the opportunity costs and XX continue experience increases recent to hometown We with quarter York XX.X% burdens requires future. also growth, the is in administrative an labor continue the our orders. improvements double-digit combined Packaging our points we've of XXXX to where such area as continued expenses which it's of as salaried our wages, increases the country, Workweek. in
over to see in phases. opened newer training, Additionally, those through end in quarter, our This opening, at likely which trend still the Shack particularly course improved to settling we continue year, we staffing experience as transition openings they continue sequentially offset from higher XXXX. the their initial new by in levels Shacks And expect the of albeit those to the Shack, of come. this first
positive and ROI next activities. to CMO forward CIO into sales invest continue XX Other performance looking we're We're business, both delivery marketing and sales, points our and operating basis our by the to with local initiatives Shack continuing And with to as really of pleased drivers XX.X% expenses and driven year. predominantly the activity, nationwide. commissions ongoing get results level of in increased marketing increased to into and
to when XX points X% basis differed sales, basis earlier. Shack or for adjustments XX rent and related approximately adjusting non-cash points mentioned expenses Occupancy basis point of increased XXX the I
primarily guidance at given profit increase self accounting Beyond the the leverage of at These our the expect of new year the standards of level in at lease quarter. the to in be these by on end part then were for remainder, XX%. from this, and prior that year previously continue the the outlook guided we occupancy beginning our half the was range driven results quarter, Shack year. full operating set from margin the adoption into for fiscal of Consistent to increases approximately year effect of on by went the first lower the last with
of G&A. and million to has million our the on second equity an This in additional quarter. progressing next Concrete also well resources the Shack. related supplier in costs. spend Moving around platforms, well was on and core G&A systems project to Concrete company important non-cash $XX.X Work centered June. with phase as for our approximately ERP $X.X being Project system year quarter $X.X finance included next, inventory $XXX,XXX related compensation, the significant onetime and with million particularly the and live some other the now of upgrade, over been continued management capital within as as end the reminder represented of across into invoice this the companywide the project most Project people to and
broad into for continued investments XXXX with $X G&A experience and spend million implementation, million the our on $X the for we be year as various and million, recent to the expect between $X capital most full Concrete $X.X and be add million this we broaden with business involved thank this between months, operating for to hitting and and to of modules building Based Project got timeline efficiently up of our who've want this and and to set I And project us roll to project start critical beyond team infrastructure many transformational who continued in above out. successful future and over implementation long-term. scale, our upgrade. for our all to and scope is important This components
prior year Outside strong to At and expenses full Concrete, million the to compensation increasing previous G&A both of spend and support our we G&A progresses this between million expect year million, point, of and $X.X and based guidance. Project with growth. for core expectations as $X.X we're core to million tracking gradually in between be equity the $XX our our with consistent guidance $XX
Taken leverage line. expectation potentially this latest in together result our our with Project G&A in may year-over-year of total Concrete spend,
of it's However, very long-term our that are important investment still note growth in the stage much to journey. we
for we and believe but back year a We progresses, will investment reinvest generally see spend remainder business accelerated Shack bits those plan the in assess where returns opportunities and into have the impact to we and the as to particularly performance compelling profitability. level direct long-term areas positive we'll of
not to and our say trend there G&A in so XXXX we necessarily XXXX, opportunities that see expansion leverage sales delivering in investments Suffice in strong while ahead. many a expect we're is so plans in to early particularly strategically
a Shack in ongoing result We continue increases expense new our of of increasing to report significant depreciation our expansion openings. pace as and
increased XX XX% $X.X in million, to primarily the quarter the Shacks. new those addition driven by Depreciation of
to continue XX quarter quarter depreciation expenses and the to million five expect by year. driven second Pre-opening year. last in We openings period the for Shack full to $XX The same in the be year-over-year only compared the was $XX increase million during year-on-year. new were between million $X.X
$XX Shack XXXX. For the to year, in class pre-opening and to with expect we between be openings our biggest million continue to-date million of $XX full costs
to year-on-year which have occupancy. in for are driven treatment accounting previously related expense change $XX,XXX, this slide in approximately $XXX,XXX and an been with by being by recorded the entirely build-to-suit Interest now leases, accounted declines to
be the full continue we expense year, For interest $XXX,XXX. $XXX,XXX to between to and expect
XX.X% the in adjusted $XX.X same the basis, year EBITDA increased an quarter we $X.XX million from own million. quarter And On first the and was per XX%. pro in EBITDA to or fully prior forma Adjusted diluted share. in the $XX.X adjusted exchanged quarter margin
supplemental an XX.X% from was effective these rates rate reconciliation rate found basis. be net excludes adjusted forma Our of And of on the tax compensation. excess underlying stock-based tax the can which materials. A pro in XX.X%, forma was benefits the of our pro effective appendix tax effect
we given that from XX.X% And to full of the exercise the to XX.X% activity. expect guidance a such the And tax excess unpredictability benefits, forma continue for timing range as basis, for of pro any tax on excludes reminder, effective our potential a of rate impact our year.
flexibility continued scaling significant of and completion increased As we growth new agreement. a we facility credit agreement, and a We the including level raise our balance debt strengthen quarter or sheet of further to the the of the ability ahead, company the opportunity runway both facility revolving the acquisitions the make took in to in rapidly size with to future. decide throughout of the investments additional capital should the strategic with
available While with no plans our to be crucial it our for and subject flexibility this should conditions. use drawing the have upon for a facility in gives suits the and the company we commitment near flexibility wish to optionality is available have to this term, and immediately, an for ensure additional improved in future. us request up stage they pleased five to to growth better terms of this million $XXX $XX investments, the to in certain within in years compelling we significantly of and the term order incremental million expanded credit facility financial We're to the line journey. at overall up The facility should
very against our business, the key continue half initiatives. of have we to we year across Overall, solid the into heading as the strategic second execute momentum
grow see Our continue enable in the our infrastructure international expansion, and long-term operate, which all critical for test, in domestic to while we evolve for our where to to changing We'll is the the company us long-term. focus and we initiatives and returns while our learn on and stakeholders. scale to anchored in teams and all business investing compelling to environment adapt investing
