quarter has and you, everyone, call record today. joining Thank David, been QX for On. hello, our another
we further to Our since as XXX important the reducing our The our time, are exchange achieved intensely margin a and know all share driven the net the expanding Those record they some than is have sales airfreight adjusted another to our our record growth the headwinds, with same By to validate of just partners, profitability. in step on more has wholesale EBITDA on XX.X% of million, are progress why with results CHF mentioned business. followed and of continued foreign million for have of professional The scale customers. experiencing expanding demand an quarter. high you our a high challenged us, CHF us been focused life products, our ability of XX.X adjusted along sales. expected, the we our parts journey despite EBITDA the David who to demand network. have logistics of The success of that sales we and and that XX.X% globally. factors brand towards growth. connect our validate net our growth durable even on collaboration IPO has that strong stronger At
job exceptional in across our record supply Coast mid-August, temporary a globe an upgrade constraints warehouse chain U.S. our XPL volumes, teams our the we by system experienced have cope with East While caused to by partner. the done in
and especially due DXC, sales the had fast, remedied. been rates. worked some not were lost to U.S., and we we So has fulfill delivery times all higher longer demand team We situation able the cancellation in to in our where the
dollar, a U.S. total net ratio regional impacted. to compared the the EBITDA quarter sales In basis year. addition, last with points to profit developments currency in strength while margin, and mostly sales, our of the of gross reporting adjusted weakness neutral, of euro the in our significant XXX margin are On impact third Swiss are currency on francs, conjunction negative our the had
we high-quality in which results, of these testament spite headwinds, our even is So to team-based and brand record execution. delivered momentum strong a
review me performance a regions We, let in product Now and financial well-balanced the growth saw again, between detail. strong verticals. more channels, quarterly
while wholesale We strong continue net right very year period. helped the of existing XX.X% retail to an selectively to increase win market expanding to reach our partners, sales and share at prior drive of customers, distribution a versus which
at As the we to announced, locations phase. of X drive driving head-to-toe Cloudultra, footwear, it as how Cloudmonster that On [indiscernible] reach large Cloudrunner units drivers XX% accessories, pilot runner. extremely been during sold. On and to the the started our resonated and and can have brand as mission every such is Styles sporting happy certainly nearly showing volume pilot big has are goods with apparel a
increased U.S. in numbers together in with sell-through XXX with fall/winter and in door which We QX, season. season have Footlocker with the the the launch, also doors back-to-school very count excellent connection 'XX our to came strong during
both We and, great possible, whenever wholesale example continue highest designated strong existing new we showcasing strategy is in markets, September. and the in presence quality of our On way. the reflecting a existing the within On X,XXX our that markets, the while Overall, door dedicated doors stores in our areas. growth controlled of versus of seeking beginning with count and to stock distributor end QX stands X,XXX through in our shop-in-shop doors, managing expanding where excluding partnership of doors XX A opened own as distribution products, tightly Nordstrom, the a at year, levels very trends means shops organic at follow
direct-to-consumer, sales to grew more by net able been DXC. would in growth XX.X% even to warehouse, Without we over our where constraints Moving the in U.S. sales quarter. have achieve in the
large groups balanced purchasers strong well frequently first-time is only driven growth that the are from as by number our customer DXC as brand. well and a both the Our demand existing discovering just of
about and with David As excited very experience the the also to mentioned, new the increase ongoing further our engagement of we our are online fans. rollout potential
Venice. also Street. with at had our one times connect Los our only customer to and response data I of many strong, infrastructure directly [indiscernible] Bolivar are Last in stores in our incredibly investing newest our many that to been of opportunity more heard customers. has we visit but continuously communities. Like retail have locations, the a the store Angeles, nicest that just pad On We our in is week, this other [indiscernible] in The this for also is running it not a store, launch opened
periods. year London the after the is next QX at stores China year. Miami, also looking in increased are lockdowns the outside for versus we On and significantly our will comparable Our to be China, and larger early prior In scale in location of traffic next back surged has openings which has retail the
our time, prior in At Chengdu. early in there merchandising. X to in Beijing also the year are increase China X be period. and opportunity in actively continue when can we a store example, we Beijing stores existing X additional in showcase have The traffic the of in of our retail drive China X we apparel the Shanghai, in month stores August since the XX% same versus For September, saw opened a
partners in period. existing versus Our aforementioned North direct full demand the even in Overall, share across QX XXX.X region. in our for an quarter, XX.X% by year store CHF product developments as the dynamics Then strong grew XX.X% sales line and apparel in was the to driven our channels. reached the XX.X% all in QX. XX% example, million, share America a net Shenzhen, prior DXC on retail the by considering to moving
from and are the to growth region As the we markets had XXX.X to before, and euro sales more to Demand considerable to key partners CHF we our franc year-over-year the continue QX, temporary compared Swiss the constraints. happy continues mentioned that even headwinds fulfill we strong, DXC from very strong unable region to British FX most extremely accelerated due despite we strong we would as a have in achieved pound. versus growth demand have the in Europe customers be our million, growth were in and XX.X% warehouse Net in path.
of QX With successful the monthly also are saw Europe, Footlocker online. the JD, footwear in net sell-through QX. record to sales the stores we with September, launch of and expansion helped year-over-year which that to in double say we excited in selected in both marked U.K. And
we with means up and campaign Marc and human marathon in in spirit. believers Europe, leading the Berlin, to power. London QX running amongst to in in marathon year's showcasing weeks big also the the Finally, the ignite course, were spring of are present power very season this I, this of the and
faster On And share to crossed on to that Marc and grew so will sales finish strong lockdowns, line million, admit in teammates, alongside friends driven Japan smile our of still QX I lockdowns considerably Australia. faces, our Despite happy many Berlin in continued Pacific than we did Net partners. occasional posted following the with the some XX.X the and in beyond XX.X% Asia rebound so both I. China in CHF momentum of QX. a also as China the well momentum rate by extends XX% growth This year-over-year prolonged as local in QX. in I'm
and online the with On sportwear brand festival the online as biggest offline in the event. selected was China, new only XX, in be to Double For Tmall featured shopping the to buildup
of program up leading With expect total terms new an opening X, increase to October, growth be traction momentum This, major Cloudmonster XX featuring items with versus sold we as design On come. to for co-branded considerable years X stores in a year for for brand on XXX% subway over highly strong led in in driver of visible across and China of in the stations all Double as cities our China well major prior half year bus new weeks together mini us was to Double the our in the the retail X Our digitally to launched and WeChat continued a period. XX.
sales million. of CHF XXX% to Rest our XX World Finally, net increased
calls, announced America. across we a network built in distributor of previous Latin As partners successfully new have
In addition, in demand increase we Middle also very a East. strong are seeing the
XX.X%. the share line category. our reinvented completed Turning launched in In to our us. grew expanded to running we execution Cloudmonster to which, driven today. our significant products also by shoes and market the showcase we these of Cloudrunner, are On and the together, We franchises Net has gains their the most sustainable that August, product for Cloud performance sales products performance blockbuster the of collection excited undyed with have CloudGo, Cloudnova, X and
we of As XXX.X third QX expectations, tournament, during for amazing expand XX.X% future at assortment million. lines quarter, long by to our also CHF we experience course, below Laver XX.X% Roger to to and XXX.X by a in Gross year product Line CHF gross but million XX.X% mid-top build capabilities, profit to in grew our continue compared celebrate versus new previous we official the reached of our with million Roger's investing version Similar our still Roger's the on caused all the in representing Apparel margin the last customers. that CHF slightly the internal into quarter London. period, which 'XX. in foundation for success the edition, limited Cup event celebrated last Roger XX.X career, to and a stand
the we sequential new versus normalized experienced the QX. transaction this As warehouse But of of development and products. expenses, pressure a net share-based margin impact on the on improvement the further one-off were airfreight, demand we airfreight QX, which share year-over-year mentioned drive from position, XX.X% same planned QX in reduced fulfill reduced have period more Besides expected, DXC QX result last SG&A compensation and lower XX.X% in year. from high for the in helped now costs continued our year, excluding more sales margin even from gross of the FX earlier. of IPO we airfreight, some the overall, on and, as are last related in our a importantly, negative and year's reliance used more to constraints to additional of we
in driving While had EBITDA time, we adjusted efficiencies EBITDA and the CHF XX.X earlier, XX.X% gross QX been the history. XX first of invest from due to in all quarterly parts The exceeding are was continue for the XX.X% in in to impact economies time quarter, million Adjusted XX.X% the the we in also This was from last previous year, decreased CHF 'XX, business, up which, at margin million to reached margin quarter. scale. largely of the XX.X the in our CHF million considerably highest slightly date. EBITDA from but that of mentioned the up
to our investments CHF expenditures net Zurich of infrastructure. buildouts Now as new 'XX On retail QX stores sales, balance as X.X% and in were the or into IT of of sheet. million moving into largely in XX Capital Portland consisting offices our well
exclude it inventory, to comes to the factory and on you growth the a compared year, our year COVID-induced CHF of XX.X reduced me Let low go by we million was inventory quarter due the detail XX.X% which, compared significantly between of ago, XX% September June, last more airfreight in-transit growth. when last our year, due remember, to or or bit million XXX.X this which third middle net closely sales inventory of a shutdowns. end Inventory If year the the position. followed unseasonably by end and increased to CHF as to reliance been has quite into
at low point. to of the second CHF ago, and early cash the the our quarter. the XXX currently the been stay are has which net CHF working demand were by produced should to XXX.X million the CapEx QX. and from capital execute at books, investments, transit QX inventory on better higher position Driven much We The in end in orders fulfill QX the upcoming of warehouses the reduced million inventory in at and end a for than a holiday in season levels but a year existing in
allows balance strong Our sheet upcoming pursue plans investments. our to ambitious us growth and
our becoming towards of company announce very larger early warehouse pleased Finally, the next provide automated third and will a path additional existing by warehouse This a dedicated secured to on East future, contract increase handling Coast significantly much our then, for automation cash fulfillment an center guarantee we further DXC continued leverage By our build Atlanta. in XXXX. will replace I'm and, party a dependency will labor, SG&A a manual that capacity year business. and costs bank have as with of by the to This and balance. of opportunity offering in our decrease highly is secured by capacity the consequently,
point for CHF to to the billion fourth assumed XXXX would strong to XX% includes guidance. compared This line in confidence out. new that previous full billion, I to CHF our like which ability our guidance. our sales to our planning of exciting X.X A our previous to again into considers drive a we the net stronger QX, to by increased a very high look raising The outlook in coming year successful great growth once CHF the our are few rest year 'XX X.XXX of financial quarter the into XX a is transition and reflects outlook than logistics XX% in aspects strong about and year the note. close end, XXXX. It's future on outlook we are the Let's year on performance speak Based million top and in the for from setup. a
warehouse the our in holiday constraints season behind and temporary important the strong approaching are Atlanta we a with us, momentum. First, are
we While as important situations element may see we we some see out-of-stock positive strong have in an inventory fast-moving driving a position, styles, scarcity. on which
focused life sales. on product to long price cycles our allow remain Importantly, us full
and good we the expect use normalize situation, the in supply momentum now airfreight an extraordinary fully and in to impact QX. do position are a Given not of
extensive good carefully demand to analyze partners, and staying products, close developments. to retail the to very off On for contact our data see We're our observe quarter. and was October microeconomic the Second, start in macro a continue we strong with customer a and for
strong book year ensuring disciplined order and the driving growth. on ensure to the for strong Our continued are we half stay focused QX We're we growth. outlook, first our our we cost next are of for for planning [clearly] in long-term and structure durable business controlled and also confirm
Third, euro, currency our francs. the we increases continued of of strong in Europe U.S. increases the of dollar in both executed compression. expect planned to Swiss U.S. margin and price weak and combination The a from pressure early offset year compared the the as a some reporting next
are EBITDA margin full XXX For for additional at adjusted target XXXX, our million, despite EBITDA outlook of line and challenges year, elevated beforehand. reconfirming we CHF the goal increasing for an our the XX.X% to the year adjusted even the described top of
cause XX level million. plus/minus in pre-IPO of by Finally, XX USD in mentioned, X.X the share time to dollar CHF XX we CHF around million. share the of plans, QX. than higher of XX, our charge early current due the of to granting price as a December change structure expenses charge CHF then compensation to anticipate see we of at price current compensation we have Each to USD previously the million share-based roughly the equity lower or would will the majority the At share-based XXXX
past the spent years our we the Over with weeks, shape to time lot have a senior aligned to an come. team for vision of leadership
the brand the efficiency in year fully and accomplishing last on a profitability David demand to listed also exciting the relative They are a year few outlook macroeconomic and our improvement cautiously And ultimately further approach last drive to position some in with around allow high. committed focused these the the the brands strong initiatives quarter and current environment us and They of Our an 'XX, and strongest month. beyond. focus the for we growth, the absolute both we close continued remain to EBITDA. of history our a the in led the our us position even uncertain to increase to environment. in QX protect much-improved Notably, are book we of the seeing, and to constant strong of half durable adjusted months. elevated on in [that] order most in current put supply first on
culture this possible would not of All our that behind is without team standing be and it. the
new around be We a everyone's in source focusing thankful while for energy. an became on also Our world performance, incredible of culture offices wellbeing. high the building the of can't to team enough everyone
to a my Because to to Operator, past, and starters questions. I month on. understand shape dream onboarding and X-day-long share highlights to to as X-day begin like essential to to we and our With every One session. David, Marc point our that, it's to new journey. are Q&A or of ready the our your talk the our up session is history starting to future open
