results. I joining for and today. you am to XXXX thank us fourth and you morning, quarter share pleased Good fiscal year with our
continued our mid that consecutive year the our results confident of are top period, our for growth positive X.X% the year-over-year I'm We our weak prior to third sales represent our conditions end in growth. quarter momentum industry, delivering the strategies of quarter, demand growth fourth our working. quarter high-single-digit continued guidance range.
Despite fourth near over
working sales year momentum we accelerate going gaining winning aggressively and XXXX. are are We fiscal into and to share, our positive
in participants many annual to same which sales exceptional XX declines to the the months double-digit feel challenging execution realized is relative the over resulted performance dynamics. industry we X.X%, who growth due industry and strong Our past period during of industry the
Our time, the not compared margin our business, the team's our from innovation, opening in growth profitability.
Adjusted on new also expanded core XXXX operating attractive quarter-over-quarter focus and potential. year our are continued customer prior we in in in markets adjusted quarter our in X.X% strong and which only At aggressive new and the of markets but investments same margin. intense to experience, returns growing quarter, development, to X% performance was unlocking product and and marketing, year with growth doors to up fiscal sequential quarter, fourth operating growth in improve consecutive long-term represents the continue the third reflects
also be or continue have very investing adjusted our sales, savings, future. industry profits, cash, bankruptcies Flexsteel participants industry recent for realize and generating efficiency improving for XXX% were working fiscal million almost service to solid improve customer have fiscal margin our pleased our continued our most financially portfolio in The operating grew by and of we year-over-year strong XXXX.
I'm generate strong the XXXX, year-over-year $XX.X momentum in all cash the cost debt.
In many Inventories bank to disciplined Coupled we've and which eliminated seen $XX sheet. capital sustaining year robust continue made in expansion numerous to declines sales fiscal levels. reduced aggressively profit $XX strong million helped meaningful year over strengthen of is while will the XXXX, to in management, we've balance management year profits, million flow with improvement growing to keys improvement. working higher For both sales where operational a period been income and product and with operating efficiencies, execution our and growth, consistent progress and strong, and profitability, catalysts capital
Our confidence is Flexsteel business sustainable long-term customers, profitable, for should investors, that growth. partners well-positioned all and have other
forward U.S. for meaningfully the confidence to not new which consumer and a in in demand important a to interest with underlying for their continue Until near we weak an are growing overall is the gaining on conditions, driver fiscal consumer and living and housing structural these industry consumers' slowing, more term.
The of be and year on cost to will As investments regain expected direction.
That our share to XXXX, there's confidence the said, under and obvious consumers and continue continue a and for impact growth. deeply challenging is albeit demand. aggressive we demand look strategies inflation, pursue remain furniture move for catalyst committed an in concerns, the headwind industry economy to of market, rates we furniture major take the high toll positive outlook to to
Our largely strategic priorities unchanged. year for remain fiscal XXXX
core We core plans new have markets. remain and to development delivering experience. and product into growing differentiating through superior In robust new value-added we focused our and customer innovation a markets, our expansion on both continue markets ourselves through
markets Our focus on threefold. expanded remains
needs the consumers. First, younger repositioning align expanding our portfolio consumer future, and brand to of with especially
in to and consumers e-commerce distribution we that capabilities aspirations. these long-term and primary beyond both core gaining our strategic aggressively expanding in will wherever to made growth to expanding all pursuits living invest strong momentum are areas.
In XXXX, into in to foundational desire Second, the we shop, future. achieving we the our our sales growth are our XXXX. brands new further channels key home and these And progress and fiscal today growth in penetration to brick-and-mortar third, advancing continue X in position initiatives, fiscal Simultaneously, beyond
to uniquely we needs consumer can address. Flexsteel more reveal First, we in insights both to and investing emerging consumer are that heavily position unmet
through IP, can exclusivity, fed protected consumer Second, or investing be differentiates we are by in both Flexsteel trademarks. that innovation insights and
use, including ease Our wellness, experience. consumer many and innovation areas, focus transcends health superior of safety, and
of awareness. area marketing and brand investment key third is The
While consumers our awareness engage directly new we excel are through brand. to trust strengthen to in partners, will and also we abilities our and at to marketing continue trade building and
the disciplined the about operational we While excited organization capabilities, intensely attentive driving and the accomplished of focused growth business. of through team portfolio even highly and very future to what excellence on growing management in is also building beyond.
I business and profit XXXX potential proud our long-term are Flexsteel year the this meaningful am growth more fiscal and
talent, give our results the customers continue leadership some market additional on investors.
With and quarter strengthen long quarter have and full the who culture to outlook first and will right We Mike? the call strategies, for the financial exceptional details and to that, the to and turn to performance fiscal Mike deliver will our term I you over XXXX. to the fourth for year
