you, good for year. billion increase The added Fiscal not the billion, from in $XX.X week record XX Ted, totaled X.X% the comp from everyone. fourth billion, increase sales quarter extra for in the quarter included morning XXXX approximately a our And $XXX.X total Thank year. XX.X% the fourth is last sales year. and In week our year, a sells last calculation. to sales included $X.X which and
standard affected $XX revenue recognition by also beginning adopted at quarter we recognition the million. Our growth In year. fourth quarter, revenue results in positively included fourth the impact change new the the a of the sales that of
in of for X.X% quarter were positive factors December X.X% few positive quarter, quarter. comp January. X.X% with Our X.X% the for our of with the total positive company in US in performance X.X% and comps in X.X% in the November, a There X.X% affect Comps and December that were November, comps X.X% January. in comps notable positive were in
quarter total negatively by million US stronger $XX a growth company impacted First sales approximately dollar or comp the X.X%. in
Second three fourth in price disappeared quarter. inflation, the of in the we commodity first the quarters experienced the year
hurricane up $XXX against million as know you were Finally, we nearly of related sales.
not winter. did we expect but that wet expected We such a
Sometimes weather our sales fourth can change the from impacted our last points expectation reflects gross XX In an sometimes help XX to growth margin of we roughly basis basis XX.X% factors. driven hurt. by gross the weather The following Relative driven in quarter, fourth year. estimate demand margin negatively demand quarter the year-over-year was comp our points. increase sales
XX new margin the basis accounting gross $XXX First profit of of drove or points million expansion. standard gross
Second filament higher basis the the because XX supply chain contraction. and margin proximate of expense gross points
products the one in contraction. shrink mix higher ago in contraction. of Third of basis changes points a finally XX in drove year sold basis And resulted points X
of this margin XX sales Usual million year expenses solid fourth onetime First, leverage XX.X% expense repeat leverage the items points control Business that operating to In we not business our expansion. a experienced granted As by associates bonus year. of also percent basis increased in most core expense but in to that as or a our of following XX quarter, strong did to Expenses. was the of For reflects points notably by $XXX BAU certain last at basis we the points - The the driven was XXX year basis factors: gross expense experienced due
leverage by expense BAU was following. offset the Our
in press our we called release. as out First
of associated of forward deleverage the or points Interline $XXX basis As million our recognized an to names with related experience, trade we impairment expense write-off XX several of we loss BXB move brands. with
points points approximately sales percent of in expenses expense basis accounting increase resulted a basis XXXX of year. expense to the $XXX operating million from an and of Fiscal expenses caused last basis operating points resulted increase standard of Second, in plan was XX% expense million new our strategic our XX a deleverage. deleverage as $XXX investment to and roughly of XX third operating operating related XX
Our our fiscal was expectations by than driven in productivity better performance XXXX initial BAU. expense
year, strategic we our related expenses incurred to with the initiatives For of our in million plan. almost line $XXX
fourth for was of fiscal margin XX.X%. asset. and the was our a the In tax reflecting XX.X% million was other a the fourth most for was and quarter, rate the XX.X%. quarter expense operating the grew year million and fourth Our by sale XXXX effective on $XX for $XXX Interest for for the quarter loss non-strategic XX.X% to part
of took reflects Our Tax the the year we provisional related the out certain and effective Reform positive to tax the settlements. close and audit for rate year quarter last charge
diluted Our an fourth the quarter increase last were earnings for per from of year. $X.XX, share XX.X%
share the to an year, per of XX.X% were $X.XX diluted XXXX. fiscal For compared increase earnings
earnings approximately impairment by quarter Our per fourth and fiscal diluted quarter. impacted to charge the in XXXX negatively fourth recorded $X.XX share due the were
including moving the So opened feet. square selling the footage additional year three we X,XXX, U.S. at million of new Mexico year XXX some one count stores the in store highlights, ending during was an two square of and end for in to the on
higher were had inventory X.X total highest For $X.X increased year, the we billion year per last our investments one quarter, of turns in merchandising The levels grew $XXX, we with stock times $XX.X accelerate the the flat to the making and in year. foot ago. year growth reflects last to our history. are than At merchandise versus fiscal in to inventory resets inventories square end the X.X% company billion sales and
the that and shareholders used billion as proceeds allocation, on dividends Moving in $X.X as and cash billion from from XXXX to the of onto issuances our to paid our hand $XX.X shares. and we cash net we business purchase debt the generated in cash business approximately fiscal invest capital of well
During year, invested capital billion approximately through we expenditures. into back business the $X.X the
XXXX. average shareholders. further, approximately $X.X in year, paid million the shares XX.X than or million of we fourth points and ending of $XX Today's repurchased billion $X.X was billion for So on XXXX end on we and billion quarter. finally return months, beginning dividends of approximately invested press fiscal to our our XXXX for that, a main shares capital for reported during includes which fiscal the in XX.X for XXrd release outstanding XX about the the roughly including will fiscal XXXX. on associated report higher Computed fiscal our And long-term from XXXX. GAAP guide or basis off XX.X%, debt XX trailing we XX we equity weeks the points. our the to with compare comment take in includes to results guidance sales when I and we want moments earnings the through a quarterly weeks guidance week, XXXX cost And to one against sales fiscal XXXX our Remember few in fiscal to loss two results,
with growth. So know GDP. projections, starts imperfect to a with model It that, as sales we directionally turning growth sales you project but to our our use correct
we appreciation, age in expected To formation, the the grow metrics, for spending the price to XXXX. model, our key growth. we add housing GDP in housing we While turnover, expected from economic recovery, stock. the household home of year U.S. and of is And are including impact GDP using GDP, housing XXth are X.X%
the home since a of is As positive, price stock. more are And the of these of look appreciation, albeit XX% Home housing housing XXXX, greater homes equity old. are to U.S. towards XX of Two than age the years highlighting equity, are most doubled we're function heading the we metrics which in stability. and XXXX. than has metrics trending home
the that us of will in you a for move comp that X%. built sales doesn't As with forecasting we we established off XXXX XXXX that materially started base. The recall, sales model target three-year base
emanating XXXX, growth we X% planning base includes which comp, For our from strategic are our a investments. model plus
the comments For when of than stack your sales are basis, to X.X%, because overlap. weeks first-half be comp we year, year. the basis On of of our for to expect lower two-year comp second-half the models, hurricane-related first, the for will thinking would first-half about shape that XXX the about fiscal the the XXXX, of XX a we you approximately Two expect compare sales points second-half year total relatively last XXXX and the more be we growth reflecting of similar. expect
shift three business, our not our in and Second, four because rates of match seasonality the quarter. in will comp sales the of our year the XXXX or growth sales
five During we in open the the and year, new net to stores, U.S., plan in one four Mexico.
gross our with approximately For further we XXXX margin At this December be line time, we XX%, not our margin fiscal fiscal XXXX, set investor in we are are XXXX conference. XXXX. contraction to forth in the during gross projecting target expecting rate
impairment fiscal fiscal sales we fourth at XXXX operating our XX% fiscal basis, grow of charge quarter our a rate at our of expenses XX% approximately expect reported approximately grow ignoring the XX-to-XX sales XXXX of expenses expect we On to We week rate XXXX, operating growth. growth. and our in the the to the of
we our margin in the year, we operating expect that with what XXXX. will essentially For fiscal be reported flat
estimate we be XXXX, fiscal to For approximately tax XX.X%. effective rate our
XXXX earnings X.X% to share expect fiscal to diluted $XX.XX. grow approximately We per
Our share guidance during repurchase plan include to year. earnings $X of outstanding our approximately billion shares the per
project For cash from billion. business $XX the of flow we the roughly year,
our into of strategic initiative. business in support cash will billion this We of invest back the $X.X
cash $X also to pay of to We use billion this plan dividends.
a to earning. annual dividend As ratio of dividend our which we payout in $X.XX, with announced quarterly targeted XX% increase Craig mentioned, dividend, line equates our XX% an in of just of
to outstanding Finally, to billion, more XX%, than an to billion conference, margin grow to Depot. invested the XX.X% range excess using the shares last XXXX, operating our range cash. One of By aiming $XXX our with XX%. Home repurchase with end of of our and plan December, return financial of and target we sales to XXXX, shared of billion long-term At create on we fiscal investor are to a $X our strategy you we $XXX in capital
participation long-term for for and And we now your Christine, results XXXX, targets. today's questions. are our we are Thank guidance evidenced fiscal ready in reaffirming by our out XXXX for call. As you today,
