hello, and Caspar, everyone. you, Thank
mentioned the in Hellen of You win Boston. Obiri
one during win to majors brands one proud the years. are of so only We marathon four last to four the of be
Back in race a and now was this ever XXXX, the had winning Therefore, our people many we the On had dream at in can bigger. of dreamed day. for this so first even Expo moment special victory and one sales in very boost since, we we corner of Boston, Marathon
outstanding Our starting our QX exceeded own was expectations. and
year-over-year. first CHFXXX.X XX.X% reached Net quarter sales up million, the for by
maintain we Our sales shared pillars and adjusted March, in EBITDA XX.X% are to in the In our that XX.X% our XXXX. year margin gross profit strong results to to from growth XX.X%. increased profitability strategic we from call margin and executing on full our X.X%
groups. Our further record of QX strong sales net product the channels across in validation all momentum brand and are regions,
the position ability supply high allowed to the distribute to capture our strong momentum. us and Our full volume
This the a faced different impact in is months To very had DXC. XX these situation we QX ago. 'XX to that wholesale constraints than had supply on recall, larger a constraints on
As a result partners, year, high last our from XX%, QX million. grew reaching CHFXXX.X demand retail combined of the a very quarter lighter wholesale with in
of fueled majority The products. existing coming and from growth both existing is doors, by new this
in our doors. globally. now This On we XX are a doors that share reach products key partnership the the January, milestone happy almost a are to expanding in with, new among spring back selective toe we our highest efforts very particular, as to accounts, that available Sporting note the to we summer we an in includes that In our significant at part that XXXX brand. in Dick's customers. all direct On incredibly and start With boasts In plays expansion apparel markets of season door Dick's pleased have establish head new are to continued our important our Goods, now now a
to line. normalized strong DXC top across XX.X% strong directly last in A by million rate our more wholesale sales versus for regions. CHFXXX net reflected The the our versus contributing is increased all DXC year. growth demand brand
products stronger our All models that is top in can younger we reaching validating DTC successful the of growth. consumer strategically with running range. as also such youngest data, had This XX% our among the running Cloud are in all than visible, younger leaning our for increasingly Cloudnova. by In newer Monster wholesale with product to day of is more our a expansion are we performance than many of example, important the grew in and and observe that the Europe our models. APAC offerings regions Along trend with our been Cloudrunner This younger DTC growth audience. further leaning very
to meet emphasize the We they customer the are. multichannel importance our wherever of always strategy
our retail DTC and a in still This elevating awareness. in own happy wholesale we're how enable they doors increased to premium is the to most evidenced the stores at are the stores. a part with brand our traffic time and us to following openings showcase store very On While same proximity both way in spillover own small
period compared locations. the store evidence same London. mentioned that demand retail of flagship in this In us sales is start quadrupled We our QX, a momentum with the that net happy strong very our we a providing more We're than flagship year. last is larger has to there selected This sustained. for
Miami. We're therefore will in compared opening selling extremely stores to months, will these store. York see double current which of of excited Both retail the for the have New than new and more Williamsburg space our the stores upcoming
geographies. we our on to continue where regional to see Moving strength in all performance
no to as quarter. our in ago, you world our As weeks press longer of disclosure updating release many seen of we two report of are region will this rest have
will to business Our Europe Middle Africa while added Latin to Americas. North join America EMEA, form to America East form will and be
press May Our a this by detailed for Xnd as the walk Asia splits old of the Pacific regional region. release the Not to new impacted quarters from fiscal from change all over year. XXXX provides the
start sales period by accelerated Pacific the So Net CHFXX.X last to let here. same year. growing to compared me Asia XX.X% million in QX, in
China Australia, between XX% key strong rates Japan three XXX%. growth a All and and seen have markets very
showcase continues our of increase We APAC in well with China region. flagship to store have business whole travelers customers of strong our Tokyo a a success our as The as of apparel very apparel international the well be across local region share strong over as seen as XX% our stores.
where grow UK it XX.X% region. Europe, the million largest East country Middle the on Moving in second to and CHFXXX.X than to doubled to continue strongly Sales sales now by in making in QX. a more net Africa,
other in our similar already Germany demand spike at the market XX%. as a We momentum in to key largest multichannel the distance, in see but cities. mentioned remains region area, With it in London we continued many grow the some
and Cloudsurfer, big European such presence the launch Paris, Barcelona, in our most On new of the waves cities Berlin strong in key with London, as Zurich. With home made
CHFXXX.X in demand million by quarterly first was more in driven is the Net growth the increased controlled million. supported by both course, XX.X channels, of QX expansion This sales XXXX. previous outlined in reaching the than the for XX.X% earlier. exceptional This sales the as strong by Americas quarter, or record
category. CHFXXX.X to our Shoes performance from to grew sales XX% product Net million. by Turning
elaborated we on. years quarter half three during the second the combined. course The which of the sold Cloudsurfer In than first that of new of the months, model Cloudsurfer Cloudsurfer Caspar exciting more last already included saw old of new a the two launches,
Roger by presence sell for Kids Roger is also is launched demand Pro [indiscernible] Pro and well channels out for and numbers. key exceeding retail own of true Cloud This number also very collection. courts, the We Play our as and expectations. on Cloud shoes. We strong our the own DXC tennis see the continue the partners to selective our at Kids Clay our emerging a launched very Sky as
sales net reached the in Apparel year-on-year with of quarter, a CHFXX.X XX.X% million growth.
the proven the and collections, uptake increase spring with new cross-selling in The as This well summer have and newer Our our more head growth the continues markets our apparel for to store skewed to very showcase under our fully our and Feel of resonated campaign both includes be channel Nothing between evidenced to categories. season DXC DXC and channels. ability our introduced towards fans by APAC retail looks the example. own toe in
to on the normalized of the had a resulting compared We 'XX. quarter, the uplift achieved to last profit million usage, year-over-year of QX elevated The more is first CHFXXX.X in result supply discontinuation year-over-year. gross points in XXX quarter and the up of most airfreight XX.X%, chain which the year. doubling largely basis reached been environment exceptional than Moving significant margin gross which a
year call compared cost projects a profit were temporarily Our million the strong sales and period SG&A expenses QX gross around XX.X% storage with full couple automation XX% net year. above DXC normally in QX around has to share-based optimal Working XX.X%. the up of target of of space lower the compensation Considering reduced margin excluding outs the in share in comes in the globe. inventory the expenses elevated for same validates QX rest margin that our volumes also from our warehouse year. items. the CHFXXX.X additional distribution the of ramp A through last of for slightly SG&A alongside individual much
rooted quarter. a With marketing awareness head in to we in On for brand a running invested as in building as consumer in performance more position expenses, in XX.X and brand previous brand than any toe the our premium million
globally. Our big in funnel like the of Los brand at awareness presence latest just at a key to Marathon Angeles, or Tokyo festival China investments few brand airports are more the drive examples upper
exciting, with of and disciplined and innovative A selling more brand perspective, from management highly economies and and strong controlled administration experience sales expenses. customers general a created a scale in More and very net brand and On, both sustainable products. cost
to outsourcing continue leveraging invest while team We into opportunities. our
capabilities with We in drive directly also connect using digital to more landscape while to continue in tech investing our our key our efficiencies customers processes.
of result dynamics, these XXX.X%, in in up our million adjusted year prior quarter, the period. a the from EBITDA As reached CHFXX.X CHFXX million
adjusted from 'XX. achieved of We an XX.X%, margin up EBITDA X.X% QX in considerably
to balance CHFX.X million 'XX building new offices A and of in in our Zurich expenditures QX million our or CHFXX.X the in 'XX sales. Now moving had were out compared sheet. net significant Capital were QX reduction to we when we X.X% Portland.
increased our at slightly communicated year a results As inventory normalization of lead QX the times. in as our full of call, end and expected result position the of
The is by compared million, fall season winter by CHFXXX.X at products. driven to first 'XX. increase of inflow December stands position inventory up Our early the XX.X%
sets our high drive of sales to share fresh continued up a Overall, full inventory in very and price us XXXX. remains
QX balance cash the million slightly end the at QX of end CHFXXX.X at CHFXXX below Our only of million, 'XX. the was
We the let's facility new look are of during existing ahead. the line QX. the our well credit expansion With QX of anticipate and progressing or to that, continue closing course on
We first had very quarter. a strong
demand quarter. approach as year-over-year growth expected, during of second We have we as situation. a comparable continue rates seeing more customer moderated a strong first end the weeks Also, the
exciting with driven we fans. book and for second new resonating new existing strong maintain half the products. of and Our products year, a upcoming very existing the are new order by strongly And
of expect positive momentum, and result sales again billion this CHFX.XX and all year-over-year we full growth in reach guidance the at of year to for our a 'XX least of implied raise XX%. As net
macroeconomic an of caution second the embed the outlook current many element for to environment. in light our the risks the the of of year continue in We half in
bring to, of for CHFX absolute margin, target billion profit for to On for first as increase we full over of the guidance I year terms net in year. of adjusted XX% EBITDA sales absolute alluded our On briefly margin the gross a are implying XX%. gross profit full our for our time margin, would to expectation, retaining the at year-over-year gross even XX.X% which the adjusted close the maintain EBITDA higher we year 'XX,
this our Ho XXXX. With partners our Chi Spring in momentum, team Summer and Last global cash expect generate flow 'XX in we outlook our in week we to introduced Minh to key strong at business a in Portland City exciting positive Zurich. collection meetings and and
retail our We are highly energized and from and motivated by the initial waves the of the footwear positive apparel our feedback around continued and trend. by for partners excitement products On
our working and to full growth relationships the our foundation strong deepen us. continued teams Our are to and for speed for partners with build for
going even take for strong and so business efforts continue the grateful impactful form optimism our forward. to energy this and are partnerships and build collaborative daily to an We we diverse to and more
our of obstacles world, team, for and culture, to our our even be fundament people everything. from about with But team, our and a connect many Caspar, happier It meetings stand and and across the was the this because I from behalf about present strong such dreams results to more speak where to during we important privilege and is today. we global the Marc so opportunity of whole not could on about is the
are we the ready up session. that, questions. the Q&A your to With to open Operator, like to session we'd begin
