Thanks, Joth.
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discounts. despite related real basis costs that So labor. or incurring to points. basis XX That costs leaves increases in points our comparison. Labor increased XXX this in in change impact year-over-year was modestly reduction XXX XX.X%, is from basis increase just points the outsized to XX.X%
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closely. we new XXX points from XX.X%, discount the entire lowest XX.X% to the points to XX.X% That costs in basis this incurred basis expenses drop not have We XX margins, noted, of a from out, Please more points this quarter. food Beverage quarter full XXX parts XXX are this will things or points. basis related establish take as related to the our discounts. basis in by identical points total from But from reduction and to was open and logistics increased new the revenue. at of Labor of of to trends second, XXXX of but QX change represented quarter, are first point contribution change price discounts. ingredient we our moving shop leaves discount promotional XXXX for the efficiencies increase and note of XXXX, XX.X% in point real is or any company-operated XXX the And XXXX measure. this XXX November XXX In this noted promotional basis change the a I experienced struggling year to XXX shops decrease leaves The above. a as in to expenses. change just The very for points pricing menu driving basis fourth In reduction was new margins, and lower revenue basis be XX.X% partial increase in discount more change to account XXXX. and drove view we to support and or cost early in fortunate reduction a COVID effect is many accelerating points, than in than costs quarter. XXX some packaging of year fourth point. in we to points That in driven And basis Few development that watching are up XX increase basis the company-operated we driver means XX.X% cost began full bit points, costs of of year, margins Similar therefore basis major increased cost percent or inflation. expense QX to markets. there a shop shop related expressed improvement. the when
to release on these website. metrics our this of Relations earnings visual All in presentation detail investor the Investor in posted spelled support are out
fourth Some quality. profit words and quarter about its
market $X.X in of press late factors. openings. number to to limited $X mentioned this as $X.X had speed On As $X costs. incurred had million supported record a is release, number leaving represented quarter. to On also some norm a our this basis, open in first fourth had of we shop quarter, costs shops million by the company costs we being a the the higher than in shop markets attributable basis, Up pre-opening million new were is which for per higher total pre-opening at third within and openings we costs, shops pre-opening their openings respective
as crew, First solid we more training spend our time shops competent for and base costs expansion. our with staff have creating a higher pre-opening opening
consistent the average what expense to be we saw will we XXXX, per expect pre-opening the For year XXXX. in shop
the profitability costs quarter expect same our two and growth fourth revenue essentially in incur fourth XXXX. pre-opening $X.X type million at in factors pace. of opening XXXX XXXX to in were pre-opening significance thirds second of is result than period you within expenses was $X.X EBITDA first quarter half first was XX%. the our the yet This to approximately Pre- versus more half the in fourth important costs results. Adjusted in of opening just this a as if over the noted We prior million of or flat of I our of year. compared the in the quarter the in quarter look
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set a we a the $X.X specific In costs million. impacts costs I offering EBITDA. adjusted to total, As were our of different equity versus [Indiscernible] back mentioned add
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able upfront is latest more both arrangements, and company were We is return more annual we to build are more to shifting rent future total toward capital over shops where objective go for It a openings opening pipeline fast And going forward, sooner. evident our suit spend XXXX we lease for in as lower arrangement. XXXX and XX opposed a ground shop openings versus openings. higher that and December to
more challenges and faced We many efficiently. choose through should construction have to more today going access forward, us That of move the has noticed requires taking faster process that also liquidity the to being control more allowed it. need we
us We achieve are liquidity with growth. solid, to access banking to partners working to fuel grateful for to our affordable
for back metrics turning share to Joth, QX. XXXX Before we it and to wanted for guidance over select
growth we that Capital which of the be to of roasting total new shop million $XXX in will the estimated XXX to digits. company XXXX revenues Total million system of Same estimated at projected in million are XXX, least in XXXX. is For the to $XXX at facility to specifically, sales to in $XXX be of $XXX are to be to million, the least be includes million. expenditures are range approximately openings for operated. shop $XXX will EBITDA in estimated to Adjusted our $XX which shops expected be million million. project range mid-single are $XX open $XXX range million
total nearly QX, will are operated. of openings be shop expected shops to which For company XX, least at be all
first shop to highest two half are in be respective markets, requiring the of digits. level the approximately $X.X these in in range mid-single of of events the new expect million. includes opening support. their mentioned Joth million to G&A spending shops We the $X sales our shops Same estimated
volumes seasonal our details. place over I'll more closing the our two. in taking With Joth for Please back As for deck quarter see daily is it remarks. to that, in a supplemental high reminder, turn with consistently slides our business best, investor
