year. Billy, billion, last were the you, In decrease total X.X% good a morning, sales from quarter, Thank everyone. fourth of $XX.X and
positive During X.X% comps company were negative and comps negative negative November, X.X% with X.X% the fourth quarter, December total in January. in our of in X.X%
average posted In negative negative local in the Mexico Canada weather-related November, company comps currency, holiday quarter. in the X.X% with comps January, is the negative January. U.S. above the X% to relatively quarter consistent important and that note Mexico impacts Comps posting and were for comps with in X.X% for across monthly positive It of in in X.X% December comps. shifts positive adjusting and
totaled billion, fiscal sales our year, decrease a the $XXX.X For versus of X% XXXX.
For approximately XX.X%, U.S. comp company last sales total basis decreased X.X% was X.X%. gross of from the In sales margin year. year, XX fourth quarter, points the comp a and decreased our decrease
For our in with basis margin from gross a was line the XX.X%, points year, decrease approximately which our year, XX of was last expectations.
as fourth the During increased a quarter to basis XX.X% approximately Operating quarter, to of the of points expenses percentage compared XXX sales XXXX. fourth
the our quarter deleverage compensation top results. executed line reflects associates increases fourth for Our previously hourly from as operating expense our as performance during well
an For increase XX expenses sales, the basis XX.X% of of year, points approximately operating were fiscal representing from XXXX. approximately
XX.X%. quarter approximately XX.X% for fourth the was was year the Our approximately operating margin and for
fourth $XX our fiscal rate other effective to $XXX expense In the the quarter by million increased XXXX, was million. tax and and fourth for for Interest XX%. quarter
up for diluted were end $X.XX, per share of the year. billion, to Merchandise the fourth a last versus X.Xx, XX% a were billion inventories down compared decrease per and XXXX. $XX.XX, second At the X.X% period from earnings decrease $X.X quarter, inventory turns XX.X% Our of quarter of the earnings fiscal last year, compared $XX XXXX for quarter approximately fourth share or from to XXXX. the X.Xx were fiscal Diluted were of
to on Moving allocation. capital
approximately brings billion. quarter, fourth business capital fiscal form in for back $X.X approximately the of expenditures. capital into XXXX expenditures to invested This During our the million $XXX we total
of was we XX store footage new to in year, foot were XXXX. the our selling bringing square the square sales feet retail approximately and million end XXXX. count per X,XXX During opened fiscal $XXX XXX at Retail stores, approximately fiscal square total
providing to acquisitions Additionally, fiscal and capabilities we serve XXXX, with initiatives better invested billion customers. accelerating on approximately our $X.X strategic during X us our
our approximately billion paid of we year, dividends $X.X the During to shareholders.
quarter fourth dividend share, equity returned approximately Today, share our billion by return and billion compared and for the an XX.X% per of X.X% months, during we of invested at the annual fiscal end $X.X including $X.XX Directors Board to our announced ending in capital trailing average long-term was Computed the form of $X of the we to shareholders dividend per of quarter. beginning to on repurchases, our equates finally, And the the XX.X% XXXX, increased debt quarterly XXXX. share. which $X on XX fourth of in fiscal to
a of Now fiscal out I'll on of fourth our week, XXXX. comment will XX for consist so XXXX We let quarter First, outlook me point weeks. that XXXX XXrd fiscal will the include
We will overall base we continue on XX-week guidance to but weeks. report our comps will on basis, XX a
actions As Ted, us feel took position to well you in and we great from about into the heard we XXXX. heading XXXX
economy as fiscal We normalization, XXXX. there improvement factors way outlook fiscal is towards while to market faces that the XXXX. signs And considered are informed headwinds on our still that look the ahead several the for home we
side, XXXX a to unlikely in repeat XXXX. are that in we positive fiscal faced pressures fiscal On the number of
X the a deflation. points decline Fed XXX from rate in sharp saw lumber basis home increases approximately existing in sales we XXXX, and comp of funds In pressure
expect However, XXXX. to pressures XXXX. as PCE expected we our to consumption in decelerate by Personal business still growth is compared measured to fiscal
beginning the Our rates for larger demand of levels. has well glide XXXX. share elevated a And the XXXX deferral year projects. could remains will to project last some Higher continue from interest to been relative towards into as of to pull likely pressure demand at relative during also pandemic on demand forward slightly path and as of effects the impact XXXX PCE XXXX
with in moderation influences we a for home sales year on comp to we planning continued are we less pressure XXXX. but improvement what of than fiscal consider these faced slightly demand, As
and is and the fiscal in sales approximately growth to sales fiscal we for we opened Total growth plan the to Our and sales XXXX fiscal comp benefit compared acquisitions stores will outlook XXXX. as growth total from well XXrd the from week made with X% stores we fiscal XXXX. new as XXXX a of sales open in to outpace of negative positive approximately X% sales comp
week We will the approximately expect XXrd $X.X in billion sales. contribute
to in million pressure incentive and deleverage gross basis from XX as realize XXXX and $XXX reduced margin operating environment fiscal in Further, is in approximately This we This an benefits approximately are primarily product XX.X%. and targeted margin from we XXXX. XXXX. than of as compensation to from relative a transportation cost fixed portion that as compensation increase will we fiscal of Our XX.X% expected be compared reflects reflects a approximately points fiscal to costs well paid lower planned of approximately the XXXX. incentive lower sales overlapping expect
partially approximately This and realize from fiscal costs goods $XXX be cost million both will expenses. the offset that sold operating by the will in of we fixed benefits XXXX in in
is rate targeted XX.X%. at tax approximately effective Our
$X.X net expect approximately We interest billion. expense of
Our XXXX, approximately diluted be to earnings to targeted per approximately $X.XX. share with extra week percent growth contributing the X% is compared fiscal
shareholders of to business continue expenditures it to our our of capital with -- intent annual dividend, approximately in sales our X% an investing in paying and plan business needs in to After we is share excess basis. return our on investing cash made We investments to in We enabled our we've model. the agility have form in ourselves have our in any believe environment. meet repurchases. business our customers the The operating of of positioned
leverage our market Thank today's low-cost look than value. we and As deliver to in continue your position invest scale position shareholder call. faster we with to will forward, the to for customers, growth you our our strengthen drive and participation
we for questions. ready now are And Christine,
