morning, you, and Thank good everyone. Ted,
we weeks. fiscal in extra Before moment consisted a ‘XX while XX me of XXXX we fiscal through of XX-week on let to weeks to two added fiscal comparable by everyone approximately of fiscal sales sales with XXXX. we XXXX a XX-week billion fiscal quarter consisted for one-week $X.X of XX report that comparing begin, take week of XX This XX-week remind basis fourth weeks, When XXXX, the report them or quick weeks through comps, our weeks
in sales quarter were $XX.X decrease of XXXX, a last against the from compared fourth the reflecting total week X.X% billion, year, the extra XXXX. In
X.X% last our comps increased X.X%. in increased the comp Friday year to and and quarter are year. of events week and fourth comps total shift, our Our sales distorted timing Monday U.S. versus XXrd of resulting calendar Because this Black company the last the annual in year’s due the monthly Cyber
Our X.X% X.X% were positive November, comps for monthly reported January. in total in December in and X.X% the company
comps X.X% and in December U.S. XX.X% in January. monthly November, X.X% in in the Our were positive
to look our on shift, in November we distortion the that Given and is by appropriate December at caused calendar basis. the monthly more combined believe it a comps
of comp For total and combined followed our January. in two the November by months December, X.X% company was X%
For fiscal unmatched fiscal record of the If from $X.X sales the week in the we billion a grew growth total we sales market. year, XXXX, billion. our $XXX.X XXrd in by exclude in approximately level our sales XXXX,
X.X% X.X%. comp comp total company year, sales the sales For increased and increased U.S.
In in primarily our gross gross Similar from decrease XX.X%, year. sold was shrink last year. of mix the basis quarter, higher to margin quarter, to margin a compared XX was by points change last fourth last driven and our a products of the
beginning was XX.X% slightly year, guidance our the higher at For year. margin the gross the than our of
our quarter plan. by XX to points sales decreased In the expense as than slightly operating XX.X%, a basis fourth better percent
points fiscal strategic and the which average. related the we million, by last approximately and of $XXX approximately our leverage, the XX points investment basis was trade This year. year approximately of names certain increased as leverage last week During expenses to basis XX offset impairment $XX of XXrd the quarter, we from plan saw million cost XXXX partially of lapped
of from Fiscal a points percent sales year. last decrease of XX.X%, operating XXXX a as was expense basis XX
Our expense initial than our better core by in was initiatives business. performance driven XXXX fiscal expectations, our productivity
spent During in with approximately related line billion of strategic our the year, $X plan. to initiatives our we investment expenses
for approximately was approximately XX.X% fourth was the for margin year XX.X%. operating Our and quarter the
quarter fourth one than ago. levels $XXX grew primarily long-term Interest $XX debt million million and to the higher other by the for expenses due year
effective In primarily several tax XX.X% and the effective tax XXXX, items. rate XXXX quarter in was fourth from was for quarter, XX.X%. the fiscal fiscal driven our fourth The discrete than expected by tax rate and was lower
an diluted Our $X.XX, from per were year. increase quarter fourth share last X.X% of earnings the for
compared X.X% For per $XX.XX, were fiscal to of earnings XXXX, diluted increase share XXXX. fiscal an
to the some highlights, square retail with on year additional footage approximately square feet. count a XXX store Moving XXXX, we selling was of million ended while
were our $XXX, retail company’s fiscal year, foot square history. sales the For the highest total in per
merchandise versus quarter, we’re in in the of reflects had year year. inventories The merchandising stock year terms last end grew making were inventory our than the the $XXX times, levels last billion slightly At accelerate ago. $XX.X inventory versus growth million resets higher X.X and down to to one we and investments
capital that proceeds cash, approximately from to fiscal shareholders repurchase $XX.X shares. to business, XXXX, debt of our as of use operations we our on billion our and and In pay as cash Moving allocation. billion the $X.X generated from to in net invest dividends well issuances
During approximately dividends invested into to the Further, through paid $X billion we billion year, capital the $X.X back expenditures. our in business shareholders. we
million year, approximately XX.X or billion roughly $X.XX about our or million fourth the repurchased in outstanding billion quarter. Finally, shares, $X we during XX.X of including shares the
basis return XX and on points XXXX. long-term than average capital of equity beginning the fiscal XX approximately of the end ending higher was the debt and XX.X%, Completed invested months, for on trailing
release take a GAAP, we want got will and moments XXXX comment so press for Remember fiscal our reported fiscal the fiscal includes for to from XXXX. highlights. to guidance our I results off guidance few on Today’s XXXX that of watch
Conference is strong XXXX, for thoughts preliminary our and that today. the U.S. healthy. Investor with economy you XXXX in some reiterating and December we guidance consumer The At shared we’re is of
less the household sales and our from driven The XXXX of housing soon the impact including turnover, housing as price of U.S. and we appreciation, will think of home growth housing with foundation sales than that The as GDP, plan demand see slightly the GDP age starts formation the add GDP by we XXXX. in environment, we X% our stock. guidance
metrics, healthy and we we an these at stable. see that As look environment is
XXXX to we Our self will gain the assumes guidance also that continue marketplace. share in
fiscal program, expect represents growth growth rate Fiscal we we expenses X.X% company investment peak both a result, costs XXXX, at expect and of to sales expected XXXX total of our year the as operating sales X.X our sales XXXX approximately our to fiscal and For the growth. grow of times X%.
XX%. year, we operating to profit the an operating us expect dollars to approximately billion, of grow For giving $XX margin
effective XX%. XXXX, For we approximately fiscal tax assume our will rate be
We expect X% earnings per XXXX grow $XX.XX. to diluted to share approximately fiscal
invest back For to from $XX.X business billion. We the project plan we $X.X approximately operations cash form of capital the expenditures. flow of year, in into billion of cash the this
billion dividends outstanding and to plan repurchase shares. billion this $X.X cash also at We least use $X to pay in of
we regards about on payout I one you last Before capital grow allocation would share. XX%, dividends as dividend in dividend we quarterly our I dividends update close, annual like as will to to an announced to for which This of to of our how our equates a every of have we’re that our our lieu With Board principles. increased year years. earnings look XX thinking the we by using per $X XX% ratio, morning, we grow
are your With that, now thank Christine, we participation And I want ready for to today’s you questions. in for call.
