And QX morning, good our you, Today's that marks the we've it's and the of time also go XXXX. year achieved Thank end not fiscal year year. milestones but appropriate call everyone. with the feel and I only Biz, key results, during recap to through full our
into fiscal to laying XXXX. the addition are out move focused we In we initiatives on as
call a four to mentioned QX forward. our progress; themes team; business I of year, One, mind. four, transformation; last implementation path came and and two, three, right the creation that the During
came again. be of this achieved what fiscal remains very and our for industry. continue As mention time have what our business short our in this delivered I results have the I is reflect and seeing led in for our on of time proud the franchisees a still and in I'll team XXXX, and what relatively it of I to period a challenging we together trends are every mentioned year. to have and positive we the these call, all
stabilize in grow Sitting as here the today, I to are and those believe and place appropriate themes we continue still remain business.
fourth X.X% In our versus the QX, rose sales full quarter. into and for year. right jumping results Now the prior year's same-store quarter
quarter, was EBITDA consolidated sales fiscal a X.X% same-store $X.X versus to year's improvement. in XXXX. up basis Adjusted compared on QX For million million prior $X the million the full year, a $X.X were
fiscal adjusted was $XX the million. For EBITDA year,
EBITDA, here. on our spending moment emphasize making been adjusted progress we I have to And want a the
in loss a of $X.X of compares loss fiscal million EBITDA adjusted fiscal Our $XX XXXX million to million $XX XXXX. in and
our positive expectations out fiscal delivered the have of the and all for quarters four year half during laid call. XXXX We the back of have adjusted surpassed EBITDA QX our over we
our progress quarter in the row is of team that believe I QX reported point. 'XX. made of fourth and have GAAP largely of to have that true the million efforts in efforts fiscal million The we of positive at stabilize business loss operating here reflection to testament this a our we franchisees. and of an the versus of our Again We $X.X operating income $X.X a a done
the of year, full strongest operating $XX.X million Operating income versus versus prior million income for six year $XX.X a million $X.X years. loss This XXXX. represents by fiscal has in during improved our result at the
forward operating flow be the as moving achieved is milestone quarter Another every to we key cash the it first $X.X minimal, I'm milestone worth for since this I to for quarter million declare out. positive QX cash to quite ready flow. that point time not level while XXXX, a pertains want pointing set this albeit this turning is to of and
we have with continues and getting our the trend will this franchisor a this here figure. towards to with work we with profitability. put becoming rate on company operating to working interest on But cash been been combined an towards, higher to a continue associated has The focus from transition has goal a a environment, pressure the growing use back and
another QX. the we last from point similar structure quarter Our year liquidity to data total of position unchanged remain business. of of There's the essentially as liquidity the with our is for capital $XX million, ended stabilization and yet which end
perspective, count three stable continues remain years. over our dips, past in Putting XXX for we've franchisees the year. historical salons. As closed quarter-to-quarter at seen salon and XXX franchisee count versus year-end the fee X,XXX to From salons full the closed salon this QX a
challenging closures, cuts, These The the our the styles, I that were keeping closures XXX $XXX,XXX, open. volumes Of faces. average were year XXX hard it to full from highlight and these mentioned a smart remaining case still XXX times super closures approximately portfolio XXX which the makes justify our brands. of industry
and profitability Given try back the viability. take bring current these to and time our for would us drag and effort to it to franchisees
a we on seek Regis look While to headwind no we'll had growth. other path doubt has on avenues overcome get back of the closures as count to is Regis salon the that profitability royalties, impact continue an this to and through
Just figures. a XXXX final thought on fiscal our QX and
While to be represent desired salon profitability remains grow to overall, done progress there we our strong these certainly work our are sales, destination and to at results be count. continue to not
the the beyond of the only a there believe that is played financial strategies context four contributing but we appropriate believed forward. pillars. the of strategy, which year. down recap to recapping of financial Regis have Now place to about also that are the the just foundational in these we I into key I'll the breaking lot mentioned results, you accomplished in is a key results, not moving And I speak into role our are at some call, time the beginning throughout milestones this we've each of
fall create experience. three of our the stylists, of components the past. our into four, we've the business, next these in in initiatives operating of Regis one being put, corporate two entity. three simply the into the a I And fit is know stylist salon But Regis locations business consisting customers our and of combination broader customers and put And where up iterations key components physical to
perspective, corporate contributed that some our there Regis this a to year major business. from were achievements And
and extended credit lot the capital our event to a and up foremost, and QX. in addressing we leading extend. and amended spoke both structure, First We agreement our about after
to an approaching hard successfully to in and maturity But extend maturity had were bit we were a critical just and markets starting as August plans. was on date this was we to XXXX This this executing debt, agreement our tighten, only the we out as year ensure milestone was of to the it's that of that as at March one done reminder, get proper able believe time have we So the a to were to our a continue credit significant ago. XXXX. able to time right the
to We the of an continue reorganization to increasing on came adjusted basis, compromised through manage the this of the of XXXX. million fiscal an in fiscal than while end our our field these remaining our track as at field have to savings we year, are with at of We've XX we business fiscal still G&A locations, around to a franchisor. continued and cannot And area grow a lower the our and achieved we simultaneously $XX.X wind down as that be left look support corporate-owned teams, franchisees on level XXXX. XX end to
the Corporate-owned losses versus $X.X in $X.X at million salon million fiscal year for in a 'XX, losses $X.X came of million improvement.
great and not switch system, our In destination keeping 'XX, and programs an looking they're and are support to industry placed fiscal effort retention experienced stylists entering only a in but and the attractive XXXX of deal stylist enhancing developing ensure franchisees considered to brands jobs. our for those also Moving the recruitment. currently brands that we to that stylists and to our
non-Supercuts last over our design new with three trainers We the technical training XXX and team new the XXX that Supercuts Over events. conceived planned national and we year, exponentially support up grew members hosted stylist franchisees, our brands. team field with
for classes and Our over field-based trainers our by got completed, X,XXX years visits which in-salon salons asked back digital we education, after and salon franchisee modules, out with our into manager-training of consistently franchisees. strictly we're rolled
Now events base continued investment. we're are getting we early, marketing and up customer and and structurally retention with to the versus improve a our with field still and customer time programs those ad them and more ability understand our while with our have organization brands. is as show to to build perspective, loyalty efforts implemented national set communicate focus these better, salons seek it's higher funds to without. the require that The the engaging base From members our demonstrating team strengthen sales and stylist results here,
to During our and and local fund resources aligned year, more and to tools and ad on national spending more used splits new by of messaging and provided with enabling efforts franchisees spend more CRM have brand revamped locally our ensure We the our with advanced We they're franchisees we points. franchisees. to programs taking control increasing offer-based each had advantage possible. touch structures, as be into efficiently and as opt
program, this average go-forward with our but works loyalty just and the while, been other rate and and May this the well. still has strategy, and than been to our non-members they're out of check launched our key a greater for encouraging, have higher in well. Supercuts, rolled for pillar not Supercuts in We forms for XX-day early as retention results brands We among locations days non-members while significantly retention as members XX a
will We in which track seek launch larger determine of to to next this markets advance continue to national progress scale rollout. to a
in-salon that channels we various the Supercuts loyalty new digital playing And collateral. program, been to basis launched the new some hair smart addition a has in real for campaign form and across will
this to excited potential of people year. the that and super match the channels can seasonality extend lean that cohorts of the are across various into campaign all about we can of We the naturally
brand's up footprint, Regis, on us brand our in Supercuts and largest sales to the Supercuts prior of performance. everyday and versus our lives X year. same-store messaging in to The up on Mentioned the strongly. has true close around that insights earlier X.X% represents that believe from resonate We to practicality And year. Supercuts all are note X% which additional our really brand, just potential people the is was brands the the
here in-salon on which continues foundational technology to of is and strengthen major and ultimately be And experience. working customers salons, This are Regis. and extends our and connections partner enhancement The between lastly currently rollout focus Zenoti regarding with experience our platform. we and have initiative to stylists been our the the the out franchisees the to to
by Currently, our live brands. next with 'XX POS systems. few our at other where on there's and XXXX. for around the benefits a completion franchisees end going live should throughout demonstrated to year, Zenoti path we optimize of the point versus worked we being from be Zenoti the are fiscal over additional Over and XXX salons are to clear Zenoti, on product the XXX being fiscal there's closely the months, our an And
the payments we've beyond a deal far. component received thus million the key the $XX Now migration of is
desired previous expected initially start the towards early back expected than XXXX likely into beginning XXXX timing half the our calendar the are on fact, more that to slower of is in believe mentioned payments communicated. is, of I of the I during year. This and the And our realize calendar XXXX. end and additional calls and to start fiscal migration
knowing However, great going beyond was what of and to want know again being such and rest a thank the we and I constructive flexible to the prudent to remain franchisees, it way. of for needs today, of step our every partner Zenoti above
no to being have make, that path doubt and decision to still of the was and forward We migration. the to look side this we right other
gone of previous delivering and in team This value-added would stylist is retained. around benefit an further has has we an and to gone developed on that system have also around mentioned otherwise Now XX% stylists, calls, calls has Zenoti, with have been example that the development voice deployed footprint the of I addition salons. The that live productivity. Regis in handling technology some interactive system response XXX to
the for you fiscal made to and grateful year. have of the share am I recap the the Now that with course we over progress opportunity XXXX our
recognize at look does Now the towards results we without really list also time, future. bunch a that not same mean I much the as of
of all upon a look we 'XX, what role, build the continues path have play fiscal laid For to to and we mentioned I've will out.
and strategic of profitability. sales of to the clear have four we and pillars get that most those the will business the Regis, impact to and heart simple deliver some Revisiting goals
just G&A, that This Regis and come corporate bad corporate-owned Starting financial the exiting our goal the locations through primarily profitability. growing has and few years. managing been debt at will past for level, mitigating our stability the exposure is continued
overall focus a functions, support year tools. the of bit a of continued we set the higher-level will across and key a those, messaging, to through digital for optimization level stylist channels brand great activating and of propositions assets the in the built efforts brands to view taking The addressing them time. and in be and an of marketing utilization of our and and stylists, refreshed over collateral and For various in-person processes effort addition population grow value
stabilization of largely has the by sales while price performance On workforce. stylist the customer the of the side been recent business, seeking driven
hopefully maximize Our be traffic renewed in we to efforts but loyalty and what growing the to increase remains the in driving on current capacity base. order of frequency a place, and focus stylist have will
here will across find roll our that bunch with larger ideas those testing, learning key a The of we and on and deploying scale. be success a brands out
at advantage the get look Over XXXX. year, and of better that lot in market, in an and idea the past out can we've speed to take faster which gotten we'll we the fiscal during a
experience. salon on Finally,
us As manner. migration the Zenoti benefits more locking a experience The I to to earlier, and and receive in associated to platform to to feedback react and the is priority. be gateway mentioned top streamlined will enable a continues guest salon a
over developed key year. course focus and will to the addition standards the utilization the this Zenoti, the of In that compliance the past ensuring have with of tools year the we be
further solidify our bringing to to brands. uniformity critical and is our effort franchise further operations This
up need for one business emphasize versus customers want of Driving to singular wrapping sustainable won't drive lead our proper item. together efforts on and this without to to the business. initiatives the to experience There's in all come Now really our any alone
there The is the in won't ad constraints of one And tenure. for is An that can carry isolation ample customers some to operating stylists not we we're There proper challenged that thing stylists within. and or the properly that trained experience without recognize funds. this lean business. are
closely emphasis overarching franchisees our an us the fund dollar the operated and we've for of regional business there the to which optimizing further last and we are limitations Outside have, has of theme do the as percentages these some to that ad need resources to the and/or to been Supercuts funds of on specific placing how few some with over due the brands, years. work approached themselves, ad nature
I'm when as refresh last relevant themes call have strong the as team year to referencing today's to Regis been of close some a deliver that year's going just our in beginning the confidence I remarks opening with a growth we as in the have said year And 'XX. remain I of call we of following quote. ago Now began that a fiscal time, be my the closing in by look strong is position year. we and quite from to from forward delivering able call. utmost the EBITDA I of have the since in to
able did the course intact we of right, we we fiscal the continued just have year. put were in fiscal that to year, I'm to words glad with over over place that prove same And our those I look as the XXXX. last forward groundwork team and into progress the
I provide QX turn And full detail our to now Kersten to the Kersten? with and call on will that, more year results. over
