your Good first everyone. and our Thank an more Anne. year. the minutes discuss expectations financials of After the will provide our us. for the next morning, to in XXXX detail. Lou Thank few to joining you we overview performance remainder of our I quarter questions. you, take of plan the for take for will discuss Then Sally that,
with year most first earnings the the last quarter discussed During our half, period. solid we call, I the challenging for a that soft first expected full being
revenue retailer demand of continuation of inventory As both the expected a rebalancing, total our XX.X%. consumer and decreased soft result
inventory they rebalance order the patterns large with unfolded. first reduced first as retailers the fiscal their quarter rebounded year their orders quarter Retailer continue as in significantly more to levels results. their finalizing Early normalized connection XXXX many to levels in
year disruptions. supply were year, Our inventory the position. We XXXX in the challenges company in last this by good made also momentum driven from gained fourth of chain a has which strong entered good quarter progress addressing and
we and to In quarter quarter end We levels inventory million $XXX quarter, at million year's of million of compared ended at the of a end the better first than last further the and our slightly our anticipated. the $XXX first $XXX with September. rate reduced inventory at peak at first
At Our the our well. end was March, debt debt down came $XX of as million.
end and recall, flow in delivered We $XX strong we pleased to estimate. $XX.X in our use the working financing the in million million our that because quarter significantly approximately we and beat you first If before $XX.X the cash quarter we of progress last quarter, improving first million, to said at call, expected capital. XXXX of were first to a compared of
about full are the quarter, optimistic first our soft year. for first solid a Despite we potential
are by We year the categories the we across secured a and back placements of and variety have customers. encouraged promotions half for wide of the
we but Our to course, strong commercial XXXX it as That the grow solid not mid certainly strong be to contributor. XXXX, but to a digits. could expect change in is somewhere as high-single market expected in of
project While spending total XXXX revenue be on consumer depending could we XXXX to to believe and we continue be there flat patterns. with upside in retailer
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products. premium have licensed We of number growing now a for brands
market agreements, multiyear new in have to under We and which appliances develop exclusive us. are we distribute markets also several new that
believe and market year. wellness large focus results positive on few to begin our this have initiative to and in this will fast-growing home and began health the the impact years We a past on
participation expect benefit are well-positioned believe market. commercial investments global to we our benefit and We growing in in the from XXXX We beyond. to from these
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to Our innovation and ability play a role in placements key new our promotions. secure products to continues in
we cooks give items a a have that our slow a two To Double-Dish you few number menu new Silex examples, of at introduced prepare including time. Proctor enables cookers to
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our continue creation. We in to long-term have overarching are several initiatives, generate operating initiatives ongoing helped years. the strong that designed These support strategic margin invest stay value us programs of flow over which are also increase time. cash expand and goal to over past our revenue, strong They
are markets on initiatives our brands. presence that where our of Wellness premium focuses our Proctor on Home our These higher-margin we focused Beach commercial and of Health as market include core markets and in sale Hamilton the increase as the Four Silex can products. expanding higher-priced well
acquisitions. These include and The leveraging digital our and plans two support all initiatives our accelerating other in growth transformation partnerships markets.
Let discuss one. each me briefly
in global lead First, commercial our initiative the market. to
food new in this products, growth in and expanding service relationships and for e-commerce. both the market businesses customer include hospitality Our investing plans
back-of-the-house we the continue We into positions mixing in areas leverage while and heritage including our expand new categories to blending and solutions. leadership
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our development, in premium pursuing further in plan continued and the market. We collaborative to arrangements. licensing new our Next presence gain premium additional to with expand digital the by market and initiative share marketing other agreements product
milk, including fresh and company protein for newest The the home very are shakes, such with in our known announced or by coffee agreement either as plant-based that oat early provides We shops. ingredients milks, March about excited as we and commercial establishments milk company a lattes making Numilk. in almond
water ingredients a are shipping customers to on The for excellent pouches. with reduces money, and Numilk's taste. saves fresh and combine our impact. has positive Numilk are known products appliance Users quality drinks in ingredients Numilk's also system their non-dairy demand. costs high environmental delivered the blender-type in a produce
Numilk next-generation to business. and their appliance was What needed a scale a help partner
use appliances We commercial new to are consumers delighted and for the selected to design have been specialty customers. by
provide will and sales the of new distribution We also appliances. marketing
XXXX. are plan to engineering and launch in new design We the and products in early phase the
household Globally fast. The plant-based are sales $XX billion. growing market penetration and milk were approximately
XX% sales very US More milks plant-based potential expect grow about for the people business. and are trying we are annually. approximately We excited to this
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CHI itself and brand. garment continues of premium the and a established as share Our in sales to leading has care category brand grow
handheld steamer. Our include and a products newest CHI mini-iron full-sized a
variable hand Hamilton mixer a Professional cordless cast New Beach electric include products hand griddle, blender. speed and our iron
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to the consumers appeal market. countertop Wolf appliances to Our Gourmet, in continue luxury
Next to wellness home our initiative the expand and market. health in
our We wellness we making are the fast-growing increase market. are home progress pleased and large with the to participation and in health
medical and the is home purification, markets. on focus filtration air water Our
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diagnostic enabling using adherence at solutions. are and medical needs connected home, technologies Emerging manage to systems patients tools, many
partnerships with our us commercialization that Our sourcing sweet strengths and enable breakthrough spot logistics. development, brand, leverage in to in is working need a partner. product specialized technologies These companies,
Our great HealthBeacon company HealthBeacon through smart medications initial leading of injectable developer medical home called an agreement participation a managing a Limited. is home. at and in market for the is partner tools with a
called is Sharps Bin product the initial Smart Hamilton Our from HealthBeacon. by Beach powered Health
infrastructure agreements a we began distribution. with partner, selling our set we specialty with expect and new up XXXX, initial through In Together drive sales pharmacies. to
medical We are with next finalize opportunities additional in prospective over and and collaborate home market the to hope additional other the quarters. exploring few also partnerships partners HealthBeacon to
model. The given in concerns year to consumer adding has participation these category. our purifier air six models continue is been are about market expanded and introduced the benefits provide be Clorox-brand This HEPA strong, have large new indoor we an the extra addressing room XXXX, in In machines to quality. we purifier initial response consumer True favorable. air expected air We
year, category filtration favorable. this tap the has a Hub, faster we system traditional countertop launch The Earlier of pitchers. Initial created water Brita water system. from the electric clean, with reception processes much an great-tasting new electric than been
turn to I growth. core Now will initiative our to drive
intently digital new of of we eight accelerating in introduced in the XX XXXX, platforms, Proctor for Silex. our Plans growth markets, drive to XX and including we remain Proctor As on investment new Beach brands, focused In brands growth product in and Beach product new work core for marketing. expand we and innovative Silex. continued are development to Hamilton place two Hamilton these
we out, and our just product breakfast the consumers entirely resonate introduction well. This XX-year innovation, created of anniversary highly continues with one of development year our are team. our example this an successful of To appliance by to sandwich innovation maker, the sell point celebrating
strong accelerate and product of represents driving Moving where online are part critical and all areas innovation Brand on reputation, we our and role excel. features, star initiative a very to in sales The e-commerce transformation. ratings digital channel fast-growing our play our business. all a these to
in Our become and we invest increasingly e-commerce are have sophisticated continuing them. to capabilities
Internet Approximately XX% retail influencing and now and perceptions through of increasingly purchases. sold the channel e-commerce consumer revenue the is brand US is the industry
growth our direct-to-consumer engagement increasing distribution operation. with expanding omni-channel are and our marketing customers, pure-play online and We participation supporting digital with programs in
we initiative have Finally, acquisitions. partnerships an and leverage to
increased commercial become this significantly into participant. a on initiative. can consumer markets we focus will opportunities our provide where stronger have or prioritize We We entry that
markets. engaged all We our in could are pursuit in growth of that of actively partnerships additional drive the
to we as as have expect we first quarter. not challenging, the indicated, much as quarter second the be ahead, still Looking although
position second we and that believe year, products we deliver innovative new initiatives our a half As strategic the enter the us year. well to of solid
I to turn the will Sally. call Now, over
