Thanks, everyone. Eric, and good morning,
strong are our quarter with exceeded driven expense results, We growth control. pleased by sales expectations, our disciplined second which and
me areas. the let Before second a on few numbers, through key we run quarter touch
sales rate weather throughout better-than-expected AC warm little than particularly great air and sales. put margin position room the of We drove inventory ticket had strong and category. planned. originally sales quarter on both fans, very The higher were in-stock mix a quarter, generated increases the average but seasonal strong and gross the gross more our pressure in dollars, in the a in First, air conditioners profit
we are impact us with liquidation momentum could with August, our stack of aware our the ending the month in of the comps but the into in place or Second, in the peaking next around surrounding July. built that's X-year sales that progressed, so quarter month taking pleased stores quarter the areas. momentum the our We're competitor also as
With a sales. and in increased said, second X.X% run comparable through increase million, store Net growth to some me that sales quarter XX% the numbers. by of driven let new our store $XXX
increase the growth in led unit Our but primarily quarter. transactions, retail was comp by positive basket strong nicely in also were and average
sporting were Our goods, candy. air, categories housewares, food room best-performing and
members over Army represented Ollie's to of to membership and X% total million sales sales. XX.X increased members XX% our
stores, year-over-year. pleased an we increase with performance XX new remain opened X our states, stores, perform new ending the XXX with line continue which to in our the quarter, with of During stores X% in of We expectations.
consumables margin decline basis air towards last and a primarily from mix year categories. the The to was point slightly Gross shift decreased by XX XX.X%. room driven
XXX SG&A XX.X%, on sales expenses store decreasing leverage a basis disciplined percentage driven control. and by managed the increase as expenses net fixed of in sales comparable expense were quarter, points the during well of to
per $XX income to to million to in and increased XX% increased million, Adjusted the income increased basis operating points increased XX.X% adjusted quarter. share net Operating and earnings margin to $X.XX. XX% XX $XX
adjusted to million increased XX XX.X% quarter. basis and $XX increased margin to points Lastly, adjusted EBITDA EBITDA the for XX%
balance the to sheet. Turning
to balance Our no the strong hand and and maximum between significant returns. on shareholder asset, $XXX outstanding credit remains growth ended strategic sheet us provides We is revolving investments, flexibility borrowings facility. drive and with cash million under maximize very a short-term which our quarter and
center of store X% to related primarily $XXX for stores. the increased quarter the purchase new of of distribution the development existing Princeton, Inventories $XX by new remodeling our Illinois, expenditures Cents million driven the were totaled locations, unit and the of and growth. stores Only to XX the million, completion in new primarily Capital
ended $X capital common and second XX back in repurchases, share bought targeted right with the million stock our allocation. We our quarter the first on half of in million
Turning outlook. our to
from second are half second a the large near-term We of and through in sales potential This fiscal some guidance. from the flows closing quarter fiscal outlook retailer upside the and earnings the despite for stores. discount raising our sales the raise our XXXX impacts maintains liquidation year,
the through that to store income $X.XXX income XXXX, sold, runs $XX of per net and million, growth million includes year XX%, year, $X.XX. of compared $XX which of billion net goods of to million, cost XX-week to is adjusted diluted net of adjusted full million, and weeks $XXX billion, to net For approximately million income sales sales share X.X%, million to $XX $XX expect income million depreciation $X.XX interest of of of comparable X.X% XX expenses of operating total $XXX $XXX a $XXX preopening approximately expense and million, approximately now to in margin which amortization gross of approximately we $X.XXX
XX million to purchase approximately which the $XX Only Capital stores. Cents expenditures expected are the $XXX be price for million, includes
how Lastly, the about opening me and on thinking store cadence. color comp quarterly let provide we're
the are to sales store we be For comparable quarter, projecting still third flat.
liquidation includes quarter. later disruption we now assumption business, in sales good the flat the the closing While from store this some comp momentum have
the reminder, fourth quarter into X flyer a the quarter that out moves also third As will and less quarter. of have the
our fourth high would For the X% slightly store we to X% the flyer. be comparable shift the of sales long-term algo above the of to due of to quarter, expect end
the targeting chose openings, new we For less leases. X we to not still store that renew total of stores a are closures XX new
We in XX and third XX the stores in the open fourth expect quarter. to quarter
having towards stores, available. few next with resources Only weeks. growth, the expected Cents in XX the opened we'll horizon, are the we estate opportunities a on evaluate the handful shift as other to open and become they of real already opening the unit accelerating prioritized With opportunities ready We balance to
over turn the call to Now back John. let me
