outlook. I will XXXX reviewing and briefly morning, Good fiscal Rachel. on an then our by everyone, and today. thank start you, provide operational Today, joining highlights Thank first and for of you the performance quarter our accomplishments update us
against this CFO, And you in more will on finally, our Donna Fox, outlook our the our items our results will to progress a financial review COO, Mary our and Then few related made quarter. detail. we Dellomo, and initiatives strategic other update President
inflation home overall. macro and the a comparison are pleased Elevated even beat continued rates to first year of higher more the in first against cautious challenging with quarter category our toughest that and pressuring quarter. drive backdrop a the amidst results expectations We interest our consumer
We consistent moment. we are which significant broader headwinds, expound from a in as but results, the advantages reliable category, by versus our immune upon have these I not evidenced will and
unique designs to We outperform down and XX% that growth sources in allow our category, model the as our sales comps. business us which and product the continue reported data our are in to first to quarter, contrast confident positive by was
let of delivered first expected, strong the year up Now, XXX.X review as a our XX.X%, Total campaigns, sales of million, even the quarter comp QX versus me sales timing we was lapped total our X.X% comparable better which We marketing XX%. very of of period. year the were by than highlights performance. last prior driven
to business as continued Given gross SG&A this quarter prudently margin the to plan for deleverage prospects. and long-term invest we've in support the some pressure
operational becoming concept Adjusted with continues fervent We our of drive the our and word strengthen which propelling quality benefits to on uniqueness mouth to Flywheel. Mary and overall progress Donna meant EBITDA top flywheel. our will good detail. our Infinity continually of strong more made our this quarter, with customers The of loss was a along products advocates most performance quarter, in X.X financial initiatives million discuss this for
internal accomplishment But schedule. Angled in launch new our showroom key is beneficial progress the especially is of in specific quarter. our QX such launch product new will on This the one. roughly last was two detail by a discuss months in that far This the the environment as strategies. we this macro ahead Mary Side growth teased of
the particular significant efforts new upside show sactionals but family enough, that us existing for Side to customers. addition amongst for and Angled our drive The innocuous Sactionals research this sactionals can seems concerted
far couch best-selling the And there on based like moat. platform one right now. our in this Style widen design design one are home on the continue critical the come. the are is in number is functional more most away to proprietary more obviously onto new a we and in to believe only layered We component to marketplace comes as our it functional America numbers, to many come. But Sactionals introductions Sactionals decor. when already innovate add-ons winning
as at this to take shrinking and greater There share one, consideration of are entire Sactionals can choice products the macro continue moment. sales to customers well, and offer confirmed for the platform category the and market ways overall seeing forward control. in even phase business hypothesis platform aesthetic in this we they to the grow, the evolve Initial is like look rates as
billion expect what with $XX upholstery in even still category, share have gains, captured is single-digit growth very our We to of penetration. low which see market only gigantic a we continued
outset can As Side Angled For available with the all product Sactionals Designed added expansions, with collection an as plus sound Life is StealthTech be the charge from ever option. any sold and platform to
Designed of The levels platforms product is This branding. sustain, true products builds between our trust of can in our is only the product that and and Our design but is way For revolutionary sustainability actually satisfying a extreme Life that brand not experience. managing point. and customers, result brand
sustained people our that the We to are is building value This shareholders. for a future love. brand unlock
other where Sacs, innovate on Sactionals existing will forever, and StealthTech in to continue meets yet invent home this in and platforms unique tech. be both categories We to and way announced
year, we challenging, at to macro the the category. pressuring remain the expect environment of remainder home the Looking
our expect to continue. the trajectory relative category versus outperformance also We of
investments very Given we this control as we very tightly, remain backdrop, operationally making cautious highly expenses prudently. to continue
continues sheet rebalance debt this strong in to environment. navigate to well position us Our
are pleased we Donna time which this outlook some our for QX sharpening While QX, our at outperformance, with we discuss. reiterating full will are with year
for year. align closely The Memorial sales us was with our demand. Day strong timeframe sales net figures real Remember, last time beating
have customer we placed. ship typically just from as days to order realized no revenue their when virtually We is directly from backlog the
efficiencies our evergreen key advantages all based and of of stock afforded items because the by platform our in of remain us We inventory. the skew approach
to continue up strongest in are the the category demand we numbers that put aware of. We
holding have line been landscape moment, competitive in promotional The promotions we the highly is but on the general. at
While higher exhibited and to our promotional well levels ability still we is these the back not speaks levels to products. gains are intensity to continue the that competition our low real with for below than last pre-pandemic share abnormally promotional demand the year,
one just it the are not for why so confident, to marketplace. looking optimistic least On reason competition for selling demand management remains people in environment. key investors in is strong We that at remains generic cautiously when the they're to versus furniture understand why Lovesac note, and furniture important this
price. of high widely sticker is our products, because This products. value sell We misinterpreted
end which for are upholstery average. sure. than our giant the sell bags, Our at like $X,XXX look bean priced of Sacs, on be the high majority more are to Sactionals, for sales, which
range introduction spend and of of with are The the a $XX,XXX choosing averages of money us the a purchase $XX,XXX and in first platform. bit even They to basis, into all transactions the $XX, and a StealthTech. But typical especially this value customer $X,XXX, it around is sactionals value see because since XXX, to quite daily is at not uncommon on product the all design customer. we
our last changeable washable products. durable, life. a These customers with and They to throughout to are evolve upgradable, lifetime, built their uniquely and designed adaptable, are
a quality marketplace one and at in we guarantee by couch and the specialist commensurate the lifetime fundamental cannot beat that. be any Our strongest are competitor. Furthermore,
estimate all slightly alone generalists, Sactionals that on be We of entire now. across SKUs. couch upholstery have our scale significant the broadly. furniture operates business furniture our larger decor different disparate the their many category generalist however, We upholstery to competitors, than businesses of than home dynamics Unlike market
times couch replacement recession-proof, home in but make of dynamic out Even a better out. being much it is sales, these. like or generalist number not couches, behavior This driver the a worn or is even still us The as business in than one wear old furniture couches relocation remodels. doesn't recession, a new at
alone. to their Lovesac. through because On the advantage directly customer inventory us, contact with purchase made constant implications top of Not maintain single we customer base a with that, Lovesac mention our never every distributor. These
regularity regularly. platform platform and the programs constitute our allows changeable transactions XX% add-ons from Designed business of approach smaller ongoing. new we Life Side to drive Angled This innovation StealthTech introduce approach to us covers to Our outreach to roughly that brand repeat with based our introduce accessories For new and to
to competitors paired blaze our in all this a by effective have our with of profitability. a chosen trail utilizing We category, efficient of from proposition go-to this years many, and unrelenting value as and proven, evidenced differentiated growth many strategy, market
of remain confident very look the of future Lovesac all long-term, in As these brand to reasons. for the we we the
enter, to significant categories ripe that home to we ahead have runway very for products that dominate that growth a pipeline new myriad We with robust of tech us perceive we plus still have disruption. we we are yet designing of the as believe but
I'd team and Mary, entire turning Lovesac's to Before for to the our XXth year This execution of like is strategies. thank over the anniversary. their efforts call relentless Lovesac
We because but just ability our it it and will our the we've ways behind this made to products. a us, enduring not drive It this because underscores find exposure throughout credibility. year to milestone milestone significant celebrate to for for long, is really stand
platform. products. sustained-ability the of Life for Designed It our reflective And not is just product our of long-term about it's
year can A a organization quarter, actually building that [indiscernible] year. sustained-a sustain. are profitable business by We quarter by
listed record a done long for a time have so with now company. We track a very near spotless as
for basis the years generated maintains Even stacked highest high of many regardless ambitions. its with on annual the now, evolving an landscape as very ever profitability management team we've growth
are lofty. ultimate Our goals
to a totally truly are decade we making are sharp decisions products, deliver to sustainable We sustainable and vision our results, focused sustained long brand. and committed to on continue
announcement that that like Siegner. our obvious, be CFO, of moment today's intend it our To address end, to should make to It Donna's appointment a take of continue new Keith record, retirement to I'd track based on the we and way.
we will track we in I new the as to look leadership, been years. welcome during Donna's some financial record am her how forward of at Lovesac and throughout brand. to are CFO. our his I finance contributions impact an continue business as in to amazing has functions grateful he Lovesac. proven thrilled six most Keith to years business partner guiding have want for express With formative the our also I scale very She our
as professionalism company. well organization. I particularly recent invaluable pandemic subsequent and want We work her as being IPO wish our leading the her transition the and public finance in XXXX all We up leading navigate years, us her to highlight ethic to to retirement. greatly helping in best leadership contributions the a have in her from her benefited
on change smooth this Senior will transition. around Advisor effective, to is While June a as for Strategic be one year Donna ensure XXth, a
Officer. you includes Officer which his with company, addition, his roles seven years more my like President recently, Chief the and would to Strategy Chief service Jack for thank extend of to Operating In sincere I and of
partner XXXX. business a my been and since joining really platform retailer transforming company in the has played in an industry. Lovesac disrupt has physical we instrumental touchpoints expand omnichannel by He helping role as continue the back to Jack into digital our true
this We wish to proven on to be the invaluable role us through She in him I nothing retirement Mary Mary chapter have awesome. continue Gratefully, to is to but and look and his already board. forward for me to at his the both continuing and to board. continued his the has new service available Jack's Lovesac. an partner wisdom on are his grateful best judgment
now priorities Mary? our it cover strategic hand Mary over With will that, to to progress. and I
