today. the everyone. for hello, Thanks, Gene, Thanks joining call and
would like coronavirus I a begin, comments I on -- make few to Before take situation. the
and prayers. have First, those been impacted our thoughts in are
to safety Our our priority the associates is of #X ensure and customers.
falls deals. our is business we great products of to focused continue offer that category, and XX% get and Over entire the these into on organization our ensuring essentials
of We have and for products, in hours, recent tomorrow, underlying closing on are we That with stores pressure business hour hour leverage senior X:XX we towards to buying be with continue our and shelves the be the will at stocked. increased first operating to marketplace. considerable and X uncertainty behavior customers. time, shift ensure consumers reduced Beginning working seen essential At customers citizens are will serve our reserved our seen we will our hard and have are said, operation properly earlier model this sales open, with days, our we to in p.m., our concerns. health
back our Looking challenging environment. a our were and be difficult to on sales manage margin pleased during proved a gross expenses successfully more We control fourth we'd than sales to This anticipated. quarter performance. period
stores, new sales X.X% stack. For X.X% as a strong comps X-year with a as a prior and very the our fourth in result quarter, total lapped X.X% of we year the X.X% increased decreasing increase
assortment, been expense believe season at strong selling it have departments, this more again holiday last we longer better delivered season, had books. we a of leaned and category year, Had in and toy housewares we balanced Following very comp. into the including merchandise a a other would our
quarter. comp primarily our during Us impact addition, headwind calls, the outsized base stores we've discussed the "R" record performance to Toys a our related sites, In new former the prior the as and cannibalization of on remained entering
the we corrected where are some navigated operating It's issues significant near will fair enable ability perspective, us term, strategies through to From for to these to transitory confident coupled day-to-day. situation of clearly changing times us it potential and things In to key had is the A same navigate our once in priorities we the normal, model with balance current that unprecedented disruptions. have benefit dynamic challenges and that in affords say that course are we the I'm and XXXX. liquidity, back respond and this further This, necessary. reason. our remain sheet our to a good strong ever-changing longer-term will get and environment. and
business underlying is model strong, is Our sound. and the
will disruption As expect to be we position on capitalize we will we in a have passed the occur. this,
pivoting deals our response knowledge For through time. success. best of has edge. inside deals will key now, customers relationships closeout on strong, their in us combined laser-focused track to our be need what very our talented at industry, vendor merchants competitive on long-standing a This to the getting to give and this deep continue and been the are quickly with Their
the to a leverage powder. As been little in our ensure a more what call keep with now I into further way the merchant have to dry team for open-to-buy, our working and future, we I capacity model
when deals and fast way. So to will our categories. we This We be this down and to need. even opportunistic position are customers approach flexing departments trending up work with or us to to last fuel allow provide we work closeouts, very in on to what better the minute jump best responsive an the best, they want
disciplined receipt open-to-buy our our in allow stores adherence better customers. and our chain supply benefit will our serve to merchandise greater will This chain more flow. Additionally, efficiencies stores to supply more and a a create and through the consistent
third-party store to approximately XXX. With believe we to you saw results, Based national proposition. our up scale, expand study. prior are where from in these days, clearly customer study engaged the on can growth further our As the release, footprint our we engaged X,XXX we a stores on our this supports value is feasibility we -- update a
to and we markets. strong. incredibly stores disciplined our and states remain stores contiguous Out we and opened -- We've approach growth far sales are we to we in maintain new expand the X pleased very about excited the and so selection gate planned of this be our year, as into the stores are will excited We're opened Nearly remain While into will Texas site and prospects, XX center. ROI our new particularly expansion with markets Oklahoma Ollie's provide of about recently by the will distribution and XX early brand. results. continued great our for Dallas-Fort supported be these Worth markets, our openings opportunity half a in
I've all execution, lot talked our down comes it about a people. to and
and our they tirelessly need. employees Our together. support store center in get all center associates, to what customers it distribution are store working help We're
at to during the want and members period. this incredible contributions business, a I their here dedication have lot X,XXX difficult to team particularly talent of Ollie's, and We thank for our
grateful are for We all you do.
say, As Mark are we would Ollie's.
buy We business openings and In This we X. with has and our strong the fundamentals our cheap. increased our expense on consistent focus sell of driven summary, philosophy, new remain model is strong, coupled and control from execution, store business cheaper, simple. tight day
ability to generate is business this Our our a weather positioned storm. model strength has flow consistently free to the us cash and testament to of
I'll it over to Jay take turn financial now to our you through results.
