everyone. fourth million Thank sales increase the morning, quarter, of versus $XXX billion you, total last In growth $XX.X year dollar an weaker impacted Ted, total positively X.X% approximately and or U.S. X.X%. good were sales by a
estimate Additionally, by total sales sales quarter growth impacted that $XXX in million. we or X.X% hurricane-related company the positively
positive for X.X% for Our of November, rep total Comps, the and stores December in in X.X% company of X.X% and the December with same X.X% were positive in positive store were January. in comps XX.X% positive XX.X% quarter pre quarter, or X.X% in in with January. X.X% November, comps comps sales
shift, Our holiday timing company rather than January comps X.X% Christmas. our of comps in December X.X% and would fell in been for total This December. Christmas timing the our X.X% by Adjusting this in fiscal January. the were monthly November, in distorted have year,
Comps XXXX, were increased For X.X%. company $XXX.X sales positive were total to sales X.X%. billion for U.S. comp fiscal and stores our X.X% positive
our basis X.X%. During XX.X% positively impacted foreign of sales. We rates $XX our last to gross margins the was the gross approximately a million XX from attribute points the margin hurricane-related year, in sales exchange by decline lower primarily decline margin growth year. March In total or fourth quarter,
sales basis experienced growth XX in of we XX.X%. operating In of XX by our with to expense decreased quarter, points contraction year, percent points line as plans. the basis the fourth For margin a
Our our leverage strong driven performance. sales by was expense primarily
expenses did we had a not that During few plan. we the quarter,
last we incurred bonus as reforms, incurred million incremental million a a First, cash we XXXX of operating approximately time stemming one XX.X%, result of decrease from percent expense from of and $XX as a of Fiscal XX points expenses. $XXX year. sales tax of expense, was the basis approximately hurricane-related
our XX% of rate backing and For growth sales our at approximately the the onetime approximately XX% our expenses XXXX. grew grew growth in bonus, at of our sales expenses fiscal and expenses rate. year sales Ignoring hurricane-related out
Interest margins for last balance expense tax for In Our compared most million, to other the tax million by effective year. long-term the the quarter quarter for fourth year, was a for recorded million fourth debt in tax $XXX and XX.X% XX.X%. the operating the fourth and $XXX was $XX rate our approximately we In part the was higher fourth to versus quarter net grew quarter, the a expense XX.X% XX.X% of fiscal reform. XXXX. fourth resulting from of quarter, reflecting
a is than better it charge this provisional our slightly While estimate. was initial
year. were for earnings the quarter fourth X.X% increase share Our diluted an from per $X.XX, last of
XXXX. share diluted the per earnings increase to year, were XX% of an fiscal $X.XX For compared
and approximately impacted XXXX tax due previously expense to bonus diluted mentioned. per and onetime share negatively by were quarter $X.XX the fourth Our net earnings fiscal
moving highlights. Now onto additional some
year, During store the Mexico, in square feet. new stores X,XXX. three we million opened was at XXX the of [Ph] U.S. an footage end six ending in square of the year three including Selling and count fiscal for the
$XXX highest the quarter, X.X% the last times square up to fiscal $XXX, from the inventories were the X.X For from of time foot total Inventory X.X year, XXXX. level were merchandised sales up At year. $XX.X fiscal year. end since per turns last increased billion million
of our allocation, to billion as XXXX short debt the from of issuances in $X.X to and business, generated dividends business cash invest shares term paid capital in that onto Moving long as and shareholders. approximately used and our proceeds fiscal from the billion cash well $XX.X repurchase we both
fourth billion the invested XX.X Further, or our shares million billion back about acquisitions. During the or into including of billion year, $X.X we through $X.X $X XX.X the expenditures million shares outstanding repurchased capital approximately and in business approximately we quarter. roughly
invested of fiscal the XXXX long-term so reported includes Finally, XX thinking comment XXXX. mind return billion average higher on months, of about guide Remember we paid our guidance things to for in XXXX. equity basis XX.X%, XXX year, capital take our I There moments launch the XXXX. XXXX during few want guidance and on for off release results Today’s are beginning highlights. press of $X.X end fiscal we approximately that and a GAAP fiscal when to the to will the a on dividends. and trailing few points ending debt fiscal than was in from Computed the keep for fiscal our
will First, fiscal fourth will XXXX so XX consist week, include a the of XXrd quarter of fiscal XXXX weeks.
a our to We will basis but comps will on on we continue guidance report overall XX-week base XX-weeks.
Second, fiscal the our on XXXX-XX a we This it certain revenue but ASU will change recognition. will sales have will the first our not quarter adopt operating standard accounting addresses beginning items margin, XXXX, in or geography statements. impact of of material our on which income
standard. Our guidance this does new incorporate not today
in will We a quarter you our update give call detailed conference first more May. during
impact look laid out the the plans is tax the incorporate with housing is at investment so and in U.S. of environment. we zoom December that, reform, economy let’s and The reform positive strong, Finally, net out for our tax industry. guidance macro and the
expect higher higher job with income rates. yes, should and We which that housing spending. mortgage higher improvement higher demand, rising home drive growth, price growth, home appreciation comes and But
billion $X.X with adding expect we X.X% fiscal grow to XXXX, approximately in extra week the approximately For sales sales.
and company we’re we new During of fiscal expect planning XXXX, three comp stores. approximately total sales open X% to
most XXXX, same are benefit of XXXX, for to it the about in as extra part the projecting fiscal reflecting our margin For we be week. was gross fiscal the the
a be will than the investments higher December growth we to into reform XXXX. with which plan in our forward when have tax been cause Further, Conference during past. the we of to investments expense discussed of we factor it's number our elected pull have Investor As fiscal some
our expect grow a our XXX% little more sales rate. a We operating growth expenses XXXX than of to
week XX.X% the with For expect that be adding approximately we million the $XXX operating margin in approximately operating extra will year, profit. our
tax estimate XXXX, we be to incorporating our tax fiscal reform approximately XX%. effective For rate
contributing the diluted XXrd $X.XX $X.XX. approximately We expect to to XX% week grow fiscal earnings with approximately XXXX share per
per during of share Our to approximately the year. $X billion plan include earnings shares guidance outstanding our repurchase
cash which are resulting billion, roughly year, project the from $XX.X billion includes tax For flow reform. of we about the cash business $X.X from
will cash strategic of the investor We of into support invest in initiatives business this outlined billion back $X.X at our the we conference.
We to will pay dividend. also this cash $X.X of use billion
line As to an Craig with payout mentioned in dividend we increase XX.X% just dividend XX% of announced of equates earning. targeted our in ratio $X.XX quarterly dividend our of which a annual
target At that adjusted strategy in our repurchase target $X Note and Finally, be we year. our billion may you Depot. share shares. outstanding preliminary Investor December repurchase we throughout is and long-term One will Conference with Home a shared this of to our create financial the
billion will three we future nearly Over updating Today a to $XXX reflecting We and the believe tax. margin business operating to fiscal return double of long-term of reform tax invested enhance are with for operating XXXX, be into will grow experience, to years to the invest resulting billion capital range impact targets. XX%. XX%, of than our and an fiscal we to aiming our our after XX.X% more higher next investments now and we the customer By XXXX the net our the profit reaffirming on are create a value. $XXX sales for
for So, for we in we participation ready today's Abby call. thank are now questions. And you
