Thank everyone. you, Mark, and good afternoon,
supporting at Officer a Financial veterans. of part such like I'm our appointed to to say to company driving to brand measured have through positive I great not with be changed. many I'm industry be I First, growth ago, My a in I to and Chief Having and sustainable confidence here. Lisa's vision seen would joined developments strategies have team, alongside honored delighted have Torrid. nearly has thrilled feel been the leadership the and year commitment
I outlook start our on a fourth our will followed full detailed update and third of discussion quarter now quarter with for performance, the year. by an
stores inventory. improvement Our our lines. we and sales to store the to in on sequential bottom led comparable our We online, top while have results third which manage our and driving quarter continued both to exceeded and expenses carefully trends, expectations traffic in focused
performance. let's by our Now line top start discussing
During improved the trends. our down last in in X%. online third stores customer compared the net to were We year, $XXX quarter, collection encouraged million with to sales comparable and that quarter, with latest available traffic sales was met were million see $XXX
continues XX basis to a in our our to store force to reversal occupancy, point million and $XX improvement addition, year card were cash in margin sales, expense.
SG&A product and by in product or net expectations a SG&A August This XX third This ago improve deleveraged in managing third sense the efficiencies was relative have most compared and basis merchandising promotion.
Gross quarter event urgency capitalizing the in sales returns XXX cost expense promotions. expenses of drove adapt controllable activity to on quarter in $X points from maximizing payroll supplier increased Torrid's reduction XX $XX offset costs of and the income, focus quarter basis The prior improved year quarter to be changes of XX.X% Selective million performance to expenses within distribution in customers the million net primary from net were freight the on we've revenue severance lower onetime capabilities last as this the points profit private which $XX.X XX.X while effective promotional a compared exceeded product by last compared In margin. last year. begun point basis million sales a of of a XX.X% year. strong declined increases expenses million events or decline year. were result XX costs year.
We label deleverage million the payouts driving a XX% our the of basis as and related distribution made to to productivity.
Marketing credit in of points to centers, to $X.X and on in technology maintained our reduction the driven in noncash in incentives $XX.X of
continue third points last we leveraging effectively in the invest stores across X.X% quarter the on basis and XX increased in to marketing in digital all sales, channels, net of both percentage traffic X.X% as to of compared to year a marketing web. As
our to performance. line bottom Turning
was for $X.XX $X.XX or for same loss per Our per share net loss the the million $X.X a versus quarter last million $X.X year. or income of of period net share
$XX that we XX.X% to evaluate the to measure $XX compared GAAP was is net our manage and our net we of sales million to measures, business. Adjusted addition an believe use EBITDA in of XXXX. important X% or million In or sales quarter of that adjusted EBITDA
sheet. balance the to Turning
revolving borrowing end to stood third agreement Our XXXX. under end million available was the our million at the quarter. was the and quarter Total the at liquidity Total of $XXX.X third compared debt at cash the credit million. equivalents in capacity including the $XXX end of cash $XX million at quarter, the of quarter of $XXX
fiscal at at to EBITDA at decreased third of Inventory to million million debt the of net quarter XX% the to quarter $XXX compared $XXX end adjusted X.Xx 'XX. Our of the end was end. the quarter
closed We with levels.
In our we store, impact We X and business with the customers value are the inventory results. and comfortable ending on have current opened stores quarter X stores. and QX, recognize our storage stores XXX our
as role strategy of X.Xx single-channel business, XX shift The remain customer XXXX more stores last customers key approaching months, for than that customers value converting they an are omni stores hold customers. our customers spend within the year.
The in omnichannel stores single-channel an journey habits Over it in of With the with seen we web these greater to pleasant seamlessly acquired levels. on plays omni an important brick-and-mortar pivotal as customers a we average in focused bridging to through their than first counterparts. have spending experience our our mind, integrated creating a a our
supply We processes. improving are and inventory management, strategic chain through progress profitability streamlined diligent labor management store making
expectations new repositioning line traffic well the and importance experiences. to review place a to continue views future our we customer we addition, stores as These approach shopping to centers. taking customers' our detailed reinforcing our fleet the are and of as This process determine locations. includes In in evaluating with in improvements of store targeted our some trends,
this and to focused We traffic sustainable customers comprehensive shareholders. efficiency customer-centric approach delivering value which translating growth exceptional our that We and increased are customer while for to our operational on to both remain strategy, driving acquisitions. seeing
to Moving our outlook.
are new collections, current mindful encouraged our and new well for prudent we causes business holiday be and of in we're guidance. which us marketing season a we're macro level today. consumers positioned environment the latest our our under by pressure While of believe in to uncertainty, the creates strategies the The heightened trends with that remain
focused headcount on favorable managing yield initiatives our carefully expenses We remain reduction will results. expect and will
driven to initiatives in significant primarily our architecture. see pricing improved and expect impact by from cost we a ahead, XXXX, product more fiscal Looking
given between For the fiscal to billion, of million reflecting store EBITDA the the sales anticipate We quarter expenditures $XX million. which our $XX Capital $XXX $X.XXX are million week between we between year. to and raising $XX between our third sales $X.XXX million new be We be million investments, $XX XX expect XXXX, outlook results, for week. impact of be for and XXXX, stronger-than-expected and for the the and to XXrd be XX million, between should year. openings net now technology to includes should to fiscal adjusted billion XXrd $XX
net between $XXX quarter, million range the to project be turn to it For EBITDA $X I million and we from for sales $XX $XXX fourth now the to that, million.
With to over million adjusted and questions. operator will
