Arthur L. Peck
Good us. and everyone, afternoon, thanks joining for
of our you does expansion. the to with seeing strong with along quarter business to happy give As consecutive positive quarter consecutive guidance. very rate fourth The in today again QX confidence fifth always, our of results. our margin we're Teri I and increase us had the quarter delivering full-year share our momentum We another are gross comps
to of quarter dive into impact challenges, had time the opportunity for weather, all of significant impacted take events has their from this business. at want to I to XXX,XXX been I our that an tirelessly unseasonably want disasters, unprecedented our employees recognize that the I my have same and natural and warm co-workers contributing to ranging this while and Before there customers, communities. who've acknowledge horrific do thank however, business, our
it talk growth investing details up our to hearts balanced strengthen that those still in performance four our components industry, protected recovered. important our I it. from impacted moment, in In and all accretive I two, the pillars. growth I'm have But into to about of in extends one, investment differentiation. Teri, will asset, QX before results. to and our Active; accelerating like fully not strategy, communities are continuing pleased to most in reiterate that and I the over lifestyle Number which in and made do, and also is growth business. Our Balanced large, fast-growing, more how value the a a turn and a we And how sustain of to that and mobile some on online highly-profitable, continuity. is importantly, our Number Active, pay people. employees with space. we're the critical I resources share of differentiates who of us key want will This it our with share would
improving And, the Inc. as moment. reduce are our helping number a September, us in that company of through productivity a $X advantages in Gap, store to As we estate to to exposure four, of on growth results Underpinning business. win. terms in the are pleased Republic Gap are traffic-challenged a being spoke the billion were rate. growth talk to more that very path that about accelerate you specialty continuing the substantially its we balanced towards Banana and real continuing rationalization, we business. in brands. Three, largely indicated that with I'll we And
First, customers. retaining attracting, activating us advantaged and profitable in finding, give brands that economics multiple iconic
to device, around or world. they online, our deliver where is meet in X,XXX Second, whether mobile the our the are ability customers and an stores a experience, on exceptional that
teens, continued categories. in high creation then want comps what Third, identify product a scale were leveraging Navy outpacing continuing solid capabilities illustrate strong, our high comps Denim delivered margin responsive from particularly to to profitability, the Navy. innovative starting want gain were and And, very market The brands, the year with the I against to categories. quarter, loyalty another loyalty financial Old to was last and sales in deliver up and compares drove drive quickly focus growth, comps. share I exploit and and with Old on fourth, business. the to discuss consistency. sales our
resonated As it up Old number But, X spots success, and Old it been customer. things, product of a vessel the this Navy four October, Navy it. retailer in fact on number which depending two Denim, is just in Success importantly, with in allows destruction, the by the that not sits platform that weeks XX this LY. of from or we air whether but on driven responsive is print, treatments color, hem it highly silhouettes to ship a category has including on was replenishment was which we
where ensure oldest These remodels with a positive we always will this risk that in last a of inventory, importantly, two associated fleet the faster. financial and expectations to get And, will in get had as but buying driving have As holding low-scope, bottom line response continue capitalize faster, can top highly see Navy Old up also brand developed continue both prototype like I we standards. quarters, our that am pleased we to be designed have share low-cost, results their delivered above reduce the on to we a and we performance. and customer demand. and stores the remodel, will we've to continue effective even to to
X,XXX opened and we've the as Old exit Navy XX we America North the in year. about course year, to the Additionally, have stores of over expect
well, new our are openings store accelerating in XXXX. As we
the buy outpacing to on industry stand the the Athleta Top responsive. to back fire. in assortment Simply expansion. This Turning allows operating things initial business we exceptional out: two to us assortment opportunities. and business Athleta. margin pipeline the see responsibly momentum driving seeing with weeks. bottom X but on put, line are feed is growth into continues. is this, XX and of a as market of to Many share XX% the then units We're
time of Second, and has importance marketing with with also and of the was acquisition, incremental power back-to-school. all expressed we're the highly the now than brand, given to focused brand accelerate on grow this continuing and been making the was to back-to-school stores. important you continues targeted industry. QX ask On real grow no a test And why see but continues to to highly importantly, investments efficient file Athleta, in the girl's which And the ROD we to awareness. minimal customer were added fully accretive. and, customer might Athleta, the business making matters brand division highly in it for an not drawing faster expense, disappointed this online
the continue to the open to year. expand continue into stores XX our quarter presence doors of year. we about fleet about this new exit next also be stores total We size new XXX thoughtfully to We opening on and X we'll as the anticipate retail and XXXX,
progress Turning Republic. again performance important teams focused to Inc.'s most and on to Gap, to categories. while quarter-over-quarter. more the in loyalty Gap, on-trend and our The deliver is Banana news leveraging Gap continue capabilities brands, innovation be mature with product improving Starting
Importantly, healthy we beat industry the due traffic weeks also to Fishkill as maintained AUR's we've anniversaried during marketing fire. returning high we most and investments
the acknowledge Banana to brand but into their are product demonstrating reminder, execution. holiday for, work the performance. quarter-over-quarter fact pillars, we the as improved With business improvement We the have executing translate spending. sweaters celebrating results better positive right pants, to the from a makes to priorities, customers and team with couple that acceptance ahead, the is to in and you qualified of is focused to out areas seeing now, improvement consistent the that on the their industry continued traction that Banana do. In the well, the and we're focused that Republic, consistency progress come the and sales, with attracting see the Banana are team narrowing brand. making investment. QX as for. suitings, do, behind customer core Right wallet and traffic, loyal to not through be to is me this more outerwear; which pleased and for taking right is a we're to But success. progress. less it's and Republic, are industry. a beat work lots with to and lot footsteps more has more to year doing I'm and on clear want the Republic When loyalty these the spread our that to I made been with of do Again, quite we're expect quarter the improve sweaters particularly heavy the in product team lifting there's slight traffic, excited things Every And Banana
and confident my of confident each progress seen to continue anxious in teams recently. work results from businesses We're to back profitability the a back level being both we've comments you If the to that about September, the getting improve. done, recall both a focus in for and is business see quite key about
Now, I'd moment on like productivity. to spend a
with make First, XXXX. closures store now of our our year-end we closing plan, continue a announced by towards closure in plan portion progress to healthy
their the We of these year also initial of expectations. of which by potential. through will our lens closures and original long-term anticipate through XXXX, on at a looked We've lens profitability the the end delivering of stores our planned be ahead
making our the fleet represents centers. we We in appropriate to our brands are and are tough calls ensure
earlier drive will York-based week As cost. we speed, Banana. taking the rest for improve operating with and save efficient specialty a Francisco. model the consolidation also rationalize we're we're moving and to it Banana will New San We announced Republic of This our quality, improve brand more opportunity our that this the to will profitable teams footprint, it
You us few quarter each will from I however, already. a hear of going wanted steps productivity forward. with on share you, continue we've that to taken these to
some we'll to and been to making comments drive on me we've with investments Let the continue close growth. make
every the for been focuses health and of and in to drive grow business. online in Over the our businesses file growth past We've months, the QX. our from to six customer negative, have digits teens the accelerated mid-single acquisition mobile high customer helping critical database brand
also now, we've were and had from continued to an Additionally, early behavior if each all features San are Francisco. Navy Store the Old and in have and our and business, a of QX. year and beating for several capability for we QX build first far. important Find Reserve we seen you extremely the results Up Republic. in with Also, quarter Buy we're improve look also at These of traffic two acceleration our to experience. an the as quarter quarter. years on growth Store quarter This from a store improvement for our ago. consecutive of on It rate and added is web multi-channel where Online but Pick investments customer Chicago even brands on this to Banana traffic the third days, encouraged quarter Store quarter, is functionality excellent online in We've and industry and XXXX and the technologies by in compared app-based so for beat in This to we've in markets, marks Gap driving Ship Store, our
multi-tender Beyond in are live Atlanta. heavily now engaged mobile, and Dallas and loyalty so online program, is Customers far. Rewards, Navy BRIGHT our Old at
Xx exciting rewards lift customer the offer the of her reach our in a we're our a version is able versus step card-based non-card With forward be customers tiered This able holding to offering. of engaged we've an test our rewards to number contact stores, seen to and program.
brands payroll As we growth. of store in look channels to to and digital continue to will in we marketing, invest and holiday, drive form our the
improvements let balanced do to growth given online and on that and growth, this is us In mobile, leverage. do has closing, scale reiterate right specialty, while combining year-to-date to value productivity our and rationalizing focus me in the performance right Our the it. and time Active, driving through confidence accelerating thing
than ago, I'm are growth. delivering few performance from consistent We a that this foundation are today pleased is as platform the for driving year stronger this much years that and we future Teri? a just
