Again, had I technical like it this we more some difficulties. now. corrected hope looks Okay. is
And again, for So apologize I I that. restart. will
welcome With launch the our our the the review and Group's and Movado review our as Sallie current Today, Conference of investment I'm provide CFO. year. then to strategy. financial new outlook highlights our Quarter Sallie to Fourth Year-end is will going growth Call. year-end results well results DeMarsilis, of morning, COO Good as me financial our today and and for
fourth quarter and meet we our financial were the pleased For expectations. year, revised the fiscal to
operating $XX.X year. quarter, sales X.X% declined $XXX.X versus income adjusted For million was million, last and the million to $XX.X by
a XX.X% million, from including earnings of share $X.XX, For $XXX.X per decline income. were sales the million year. delivered we interest year, last fiscal of Adjusted $X.X
and to no debt. generating operating and inventory cash after year sheet of cash continue of very ending We million flow, $XX.X million strong $XXX a $XX.X by maintain reducing with million balance the
the uncertainty a increasing all For in retail inflationary travel geopolitical and challenging a largest the in States post-COVID dynamics, have Europe. and A past we in spending, United pressures consumer demand are continuation discretionary markets, affecting environment year, our for rebound multiyear of products. been operating
plan parts we strengthening of line our most top sheet the our building focused to biggest the macroeconomic strong brands biggest comprehensive headwind worked we As fall, significant the cash to the across to return position In a in our future. leverage our control, markets. in and on balance company directly mounted our develop our for a and these XXXX, pressures business our with to growth our to fiscal in teams
these traction begun efforts. already see from have We to positive
the amplified end Tommy sell-through U.K., drive we our began testing programs Europe: targeted HUGO Germany, in markets fiscal XXXX Lacoste storytelling trends marketing and efforts improved fiscal and towards helped improve quarter, Hilfiger XXXX. to These Spain. biggest in fourth During BOSS, and France into in the behind the efforts of
building Movado reads embarked positive. early brand our are on the Connecting refresh brand a and also We launched campaign, new Dots and
continue seeing signs, quarter beginning XXXX. to particularly our seeing during we fourth returned fiscal results, website strong In and in we the we own to are fiscal XXXX, As top encouraging are growth where the a priority profitability track our we in movado.com the Group. future. is right compelling to We rates we of time are Movado to is long-term increasing for deliver brands our in reestablishing growth to sustained of and it invest positioned ensure at believe portfolio growth
the brand-building year. the that and are confidence marketing Our implementing throughout past this us give the investments test we right results from coming fall
While to expand share our Europe, and them challenges partnering increase across brands. our their remain channels in customers help focused with our build the business, in and on market are U.S. distribution demand we consumer
incremental such, have the next X at aimed support position $XX to new million to financial our As strong initiatives and we sheet invest made balance leverage quarters over to decision growth. and driving marketing an the
momentum. the as favorable these our to intensify will year upon efforts progresses build We
While short expected and deliver and consistent importantly, is to brands move moderation support and to within in term, right the growth a the in the we this accelerated customers, our this is cause future. believe profit
includes year, operating X% delivering of For brand-building with plans and approximately our X%, profit investments. fiscal trends our throughout XXXX, accelerating to approximately incremental which call last sales for grow year the over
the solid top laying for future growth, line. believe and on a both We foundation are we bottom
jewelry brand, to portfolio. United this expansion States, worldwide brands; for key Our business also return in newest continued on focused teams while are Europe, Movado Tommy to includes our our markets around on and our and the energized the our BOSS world This are in focused the our company strategy In year. Lacoste. our is growth priorities across and Klein, Hilfiger, HUGO strategy Calvin Coach
the overall to expect East, also to and We Middle Brazil India, continue grow Mexico. in business our
our of brands, amplify key increased our and productivity storytelling marketing each to messages markets. drive Through in will we
these Our product conversion targeted we our I'll and and cohesive and introductions messages sale across plans point. as increased the brands. year. some I innovation at our of of and families, longer-lasting through touch also every the about execution plans marketing calendar for share brand highlights iconic of portfolio our include progress exciting throughout am excited
the case and demographic which launched targets. combination campaign. $XXX. will embarked opening design, We're awareness with fall. It inspired our by video on backed biggest colored dials. It Quest, a To in We a spring, boldly that we our we brand price an Movado, BOLD already advertising market this new has progressive an refresh key by amplify recently accelerate comprehensive last increased and point brand integrated support across continued brand Movado's will XXXXs featuring be of digital bracelet is seeing
biggest We're also introducing Movado collection new X.X Chronograph our Horizon -- our this to a to spring. BOLD best-selling
Museum As Museum upon our spring for advertising we'll Classic our build her. featuring television him we campaign, and our for new Bracelet introduce Chronograph Classic a commercial
third these will which as initiatives our We progresses. quarter are XXXX, expect year we advertising in In and we fiscal of the of XXXX accelerate brand you groundbreaking evolution forward growth. look Movado already the addition, a campaign on into to preparing fiscal updating
this brands year our fully fiscal a market. a this licensed year. were current for We're our portfolio's emphasis strong down with in comparable licensed return Europe, On to to this objective brand decline fiscal X.X%, and reverse to growth basis, our biggest sales planning is
support We have very for licensed targeted families and and investment both product jewelry. each to programs of our marketing in iconic increased with watches long-lasting brands,
In marketing we support. product family success initial the and strong Hilfiger, the will on TH build Tommy XX expansion continue to with of
campaign will multifunction key point. sharp also a spring a Tommy Our for at watch opening Lorenzo, price feature
jewelry. advertising Georgia We will our to both May add for campaign and Jagger watches
the are increased collaborating with partners an with both of sales retail point our We sale in online. to drive investment at key and the marketing spring
the behind fashionable and to and Last streamlined of Candor a build of design momentum family, available a movement the HUGO quartz began colorways. BOSS automatic number with introduction we in holiday, modern
also response retailers new received for collection. from We our a strong Skytravel
will looks. introducing category support men's campaigns. On emphasizing growth Skytravel take the look with key billboard drive to the and advantage digital jewelry by BOSS behind of iconic we Candor by jewelry front, Europe, collections, we and retailers HUGO both bolder In the growing in
our Cary key emphasis the in will for Coach, the Elliot. and be In families, driving growth proven spring market supporting U.S.
we're brand which year. the focus launching progresses. a brick-and-mortar our and We on successfully are Coach actress, Wu Amazon ambassador, also China, In business Jinyan, for year growing distribution as new late our launched Coach, we wholesale our Chinese expanding last
watch Gleam emphasis increased business Elemental will our year iconic continue new grow and Calvin an We Klein jewelry this to on our collection our with collection.
of on automatic all skeleton of we mechanical reveal our focus the driving dials As movements. translucent of intricate for brands, with part emphasis on CK expanding our our success that will iconic family watches
In actress, Indian in presence we Disha markets addition expanding India Germany, ambassador CK and to the Patni. like are brand of investing also our Spain with new key in
collections over last long-lasting the and few made have successful progress years, with new in we'll this that and the our L.XX.XX continue of with strong We support some Boston very Lacoste and colorways. spring exciting momentum year
for introductions excited Lacoste a of to the half second strong and the about momentum this of response support year. seen to Lacoste we'll year, have very that for last planned number continue brand very of We're We new introduction the jewelry the spring. a
our outlet to stores. Turning
of For second a to align QX be some half of fiscal 'XX, fiscal line strategies we half during our as the but 'XX, the with weaker with growth year. sales distribution in first to in returning we expect
sales very support Our remains Movado believe and fourth increased behind outlet stores will driving additional our brand quarter, during and profitability. we third division the benefit outlet our marketing profitable, the and
season, modified last delight quality began In play that performance we with profitable by We new MVMT, for This year, Burton holiday this that as should Grosvenor resonate Olivia products Grosvenor opportunity accelerating mini introducing in a our new last innovation excellent into continuing family profitability. Hexa trend believe we will structure target drive during have will in assortment, cushion-shaped while a consumers focused and QX driving and we jewelry of value. with consumer. new assortment. like by increased consolidate to our our lastly, growth improved spring, the year's well our and to significant resulting And MVMT cost
initiatives growth fiscal about underway we're excited these XXXX. Overall, for very
As line on Group to to see, Movado of we top are focus to our strategic committed executing growing our and level a business behind and healthy you investing growth. can return initiatives our
building Our us financial and deploy while in invest brands demand our to partners awareness brand and new for portfolio. our strategically position allows and capital
biggest in success, we seen we already is brands we adopt and and key support sacrifice that have understand we where to our and markets. believe order our invest we profitability key While that aggressively short-term support it growth, will initiatives vital
we As business, continue our invest dividend to prioritize continue that we'll our to investors. our strategy rewards in long-term
we Movado Dots very vision evolve we for to continue about we Connecting began enthusiastic and refresh build that the team on campaign our built the that fall. brand We're as brand last our the the has very portfolio, results in the we committed encouraging. initial our and continue have to return The developing brands markets to licensed markets Europe are see In in to our seen are our grow. biggest momentum
will continued as fiscal in European advantage gain While retail opportunities. there and will are progress forward those of to to wholesale updating believe both growth full on. XXXX bring goes take the look we we on we share, segment and year broadly, and great market segment in our opportunities you the that I headwinds, drive more know
would in would now questions greater to for financial call answer review detail our any turn you to our I over outlook be well to results fiscal We as as then glad have. to Sallie like might XXXX. the