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As now top line And half-to-date Sam have X%. the taking end year mentioned, are actions swift to at improved, as clean trends on second inventories. our we is tracking minus
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centers and are quarter. structural legacy completed successfully network of optimization fulfillment our last QX, improvements one on we of exited our Phase track. Our In fulfillment X announced
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as planning we and to our end-to-end addition In enhance processes. structural enterprise improvements, initiatives our planning cross-functional Sam initiatives and have launched to strategic significantly an mentioned, operational
$X.X spread of Providing a completed fulfillment million, facility incurred $X.X the of was center quarters in end X Phase million restructuring Iowa network, our our the million X between recognized which and to $X.X of QX QX. we expenses at of in with Dubuque, This closure date October.
are begun have year our we for rate to run and annualized cost. savings the full capacity phase realize We $X now maximize in continue a in XXXX. efficient center, of next to evaluating cost-effective most and network million adversal savings to Leveraging QX fulfillment
share the our on retail portfolio We are to strategy. store pleased progress
on and of new X have markets the to priority sites back are We in open half identified track XXXX.
existing fleet, our new enhance rate it relates hurdle to due profitability As of higher productivity have to the to established leases our we and requirements portfolio.
previously, almost store mentioned by of As up coming XXXX. renewal XX% current for portfolio our is
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excellence; are a basis. category color X first, to initiatives the with Sam outcomes enterprise focus cross-functional a assortments opportunities. on operational streamlined there processes on driven mentioned, impact areas key end-to-end Providing insights focus customer target on to second, the of more go-forward drive by largest
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to speaking we reported XX.X%. Now third last X.X% XXXX margin sales our expansion $XXX.X year, points net results. quarter of XXX basis QX down Today, million, to versus with of gross
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visits in sales conversion driven the of partially offset sales store increase penetration last year. over continued declined X.X% to increased by channel sales Retail Mobile X.X%, decline, and Direct declined quarter. traffic rates. by site
fall/winter declined goods. seasonal impacted women's by Our X%, business
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However, on new up Fly resonated and our the our well. Sweats Souped Dry technology collection
margin. gross to Moving
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million. third quarter Moving expenses increased SG&A to expenses. SG&A to X.X% $XX.X
and deleveraged percentage points higher depreciation a by investments. costs by at sales logistics year, The decline it center were efficiencies to network fulfillment XX.X%, of continued fixed by a foundational driven As from XXX in offset sales. last and across basis
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in a on deferred of earlier, our the restructuring exit mentioned allowance legacy centers, million our recognized As tax we and expenses fulfillment $X.X million one valuation asset. from of $XX.X
loss $X.XX per compared of share year. per net to last adjusted QX $XX.X million loss share diluted $XX.X million Our $X.XX or net was diluted or
$X.X EBITDA adjusted million. year-to-date is Importantly, positive
or main up XX% There approximately was products, versus were inventory and current XX% drivers increase $XX the last is improved year-on-year. X% X% million. balance of to inventory year. of in inventory clearance Our the X
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end we sales inventory resulting necessary on and the To due prudent final Friday at higher Black end are inventory from in-stock Another to actions inventory relates levels was where X/X third products year. driven on inventories. taking to core quarter. year last unusually receipts by clean fall/winter week, post were year-round the impacted weather, mitigate in to learning the key higher low increase the warmer of to of reiterate, a The seasonal
cash prior equivalents invest Our of ended million million with for our of were the our the $X.X end We had debt versus used primarily technology in of per the outstanding quarter $X strategic as $X.X quarter. the million capital year, capabilities expenditures the We to in million line cash of $XX digital quarter on credit. map. at and road
sheet Our of liquidity balance with million. strong remains $XXX
our Now for XXXX. outlook turning to year fiscal
$XXX includes our from are XXrd the of basis sales which line Costco approximately points year points full XXX the XX growth of We and order guidance basis million, top reconfirming from week.
year-over-year continue lower benefit to costs. from expect We product to
However, levels. year end on inventory promotional to commitment by our the clean driven higher and seasonal activity
We basis margin projecting of are XXX now points approximately gross reduction full prior year year. versus
from increase Our but the product initiative, cost will the reduce efforts sourcing direct margin the the the just products This expand sourced planning enable to management with product combined enterprise factory. of gross several significantly inventory margins assortment innovation not and are capture as to of expected sourcing expansion. we also costs continue our benefits initiative years enhance and fully for to next and percentage
We contingency from expenses offset the approximately increase deleverage from like to with and expect fixed strategic SG&A, and prior our center we XX services efficiencies excluding the in as basis optimization sales beginning QX. expenses network points initiative fulfillment from benefits by year, partially tax investments contracts in savings versus in additional
are approximately as ad planned to will we or and outbound efficiencies. by expenses continue refocus to from new added selling to continuing realize and basis the expenses to by be of carriers agency of XX spend diversification drive points, shopper move driven at conversion. approximately Advertising savings from transportation sales XX% leverage our savings Variable
by approximately savings are and initiatives efforts. with depreciation Fixed administrative expenses, XXX fixed versus cost last are as to expenses our offset strategic general associated and costs basis expected partially deleverage year higher with points
basis Full approximately net prior sales points to year. versus points sales of reduction contingency SG&A excluding year approximately expenses, With of XXX million. XX deleverage year basis year. tax the versus outlook, by summarize $XXX that, our margin full approximately to prior gross
are $XX million. be expenditures than approximately by to to track more reduced Our capital on half
strong. remains liquidity Our
liquidity to committed debt model. business strategic improve are our million. on clean to the enhanced of the profitability. investments, from and growth In $XXX on we our expect structural end to closing, taking enterprise maximizing year planning end year significantly to with over We actions unlock to and and processes return inventories, no initiatives delivering implementing
questions. will the call for we that, open With
