the Thanks, call everyone, for and Emily. Good thanks today. afternoon, joining
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on So I will let me on into and omnichannel go share initiatives then our some financials. tests our detail strategic updates and greater
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Now you before on financials taking more detail our questions. give I’ll your
were to decline for down and a year. quarter As basis, $X.X on to exceeded net mentioned, $XXX the stack year, of XX% million, currency Total million, were year. compared first constant sales a last first net quarter the were XX% a orders our compared X-year up On first down XX% expectations. to last the last quarter, which X% for sales
challenging by Order which compared the to impacted year as volume well as backdrop, macro impacted was lower last conversion. marketing spend
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optimistic the cautiously macro We but remain remains as background improvement, we are pleased the uncertain. with
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year. We’re was rate, first with XX% the which our compared was last return industry-leading flat relatively which to also pleased approximately for quarter,
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net X% and down macro stack quarter last and $XX million, First XX% due environment. pro primarily a on up X-year promotional on trends basis highly softness macro in year, sales compared factors, a demand including to to were the forma
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outbound slightly our Although deleverage. shipping, improvements rates productivity have the sales to these improvements volume made year-over-year, in lower centers increased due and the higher we offset fulfillment fixed the cost but
sales basis, of more with a XXXX. the marketing expenses to marketing investments compared and expenses rate of sales quarter, Marketing the line compared assortment, the ramped the newness to million of On in our were were traffic first XX.X% up which in million $XX.X net in first net XX.X% $XX.X quarter drove first Through increased the in quarter XXXX. we conversion. of sessions,
We spend. are highest returns model flexible on leveraging to achieve our fully the marketing marketing
to continue relationships to the further our portfolio and customers with existing attract refine customers. our We new muscle across and develop enhance marketing
was the last first The first last to $XX.X deleverage. expectations the expenses million G&A quarter and loss in million the XXXX. were of share was General compared or We year. guidance $X.X per in compared of our basis EBITDA EBITDA quarter administrative of or adjusted This when expenses compares same last $X.XX $X.X a we the year. sales change XXXX year. quarter basis, the sales compared period quarter of XXXX which X.X% beginning first Adjusted was gave of million, of XX.X% $XX.X million quarter $XX.X on million of income first in were exceeded million X.X% rate in net Net a $X.XX in at of first $X.X by for the the of same net sales in per to On XXXX. rate period delivered margin the to to XX.X% net share year. to net compared driven our the
we We Turning At in total cash sheet. first to and debt. $XX the cash the in with of million. balance end liquidity million $XX $XXX of approximately million the equivalents quarter, the and ended quarter had
earlier, to more $XX we paid to subsequent down mentioned $XX $XX.X additional year-to-date. that made million, I’m our down million first total payments quarter debt the end, pleased quarter. the in of I And we than debt bringing million pay As of
end very inventory, million XX% down We on confident teams X% and end at The Total a $XXX currency $XXX improvement. hard XXXX. the and quarter units was and down our composition, were the with inventory million we of were constant first fiscal dollars to year. to the at at expect sequential have managing been the basis. work inventory, and in pleased and of of dollars the the compared newness feel we’re quarter the to last compared units in continued declines of in see inventory XXXX quality Inventory
million prudent used cash, The reduction flow. inventory on quarter, In compared first to cash in of more Touching by million the net the which we management. driven quarter $X primarily used XXXX. $XX cash was of in
Turning to our outlook.
drive look initiatives said, excited we balance beyond, growth we’ll prudently manage remainder of and at As business channel and the and to XXXX opportunities we the and we’re by awareness. That our to profitability. growth continue expansion heightened the brand’s
sheet. and reduce controlling position, our are our operations, and find to debt improve the strengthen in We continue controllables our inventory our balance efficiencies effectively we
still half EBITDA. reflect in anticipate we $XXX million more performance to the and to our Overall, we million from easing last be adjusting sales expect in guidance and first and We are a due to of half first stronger half. comps our the We that $XX back the strong and year challenging anticipated of our in XX than the comparison perspective first between between net in quarter. will anticipate XXX now sales deliver year
X.X For and quarter, expect of adjusted we sales deliver EBITDA and range the the XXX second million. in $X to million and $XXX between net
a expect business. we be gross more quarter the in on due similar the on in color rates efficiencies we margin to selling of on in to And second been basis the P&L, rates last expenses second operational To the the quarter the rate year. anticipate to marketing working give the middle and we’ve improve to
work wishes. go I your that doing know priorities well through want you medical she’s clear. continues her our Jill everyone’s to but conclude, I Before appreciate and take To issues, well to let questions, are forward
to heads down broaden growth our and reach. executing on strategies ways We’re new our exploring
continue steps will foundation operate strengthen our taking necessary reinvest to the discipline, financial with business. and We flexibility to in our and
business and the both to our and of future over the about optimistic profit long-term. and We’re remain committed brands growth model delivering
it Now questions. up we’ll open for
