resourcefulness, as this allowed 'XX, range. showed I'm us below sales at range the annual customers performance we of Throughout they our fiscal navigated proud our and even of in on and a though us. across demonstrated Good CE we the joining original original everyone, strong environment. of profitability pressured as deliver teams the guidance for operational This guidance year. morning, sales to company came you high thank unwavering end past execution our our passion focus
our improvements in particularly many we delivery. of services and base experience and customer in membership drove our Importantly, grew paid areas business,
of are our our high we the profitability expectations, with at range. reporting near end middle of the revenue guidance QX For specifically,
same sales XX from time, declined improvements comparable the rate our Best quarter. last expanded well At in to our points as we Our year Health. due Buy profitability gross X.X% profit in program membership as the basis
of compared year lowered tightly our week, we labor impact to expenses the rate fluctuations. the last and expense controlled as SG&A our Excluding expense we with sales extra adjusted
and As were environment overall season, expected, our through in holiday was line the customers the deal-focused very expectations. with promotional
in customer and Week shopping Christmas. higher While line considerably periods during with days Black closely than were was had expected modeled. we December Then Cyber lull the X steeper performances historical patterns more and we our and before in resembled holiday even sales than was the Friday strengthened expectations, demand
year our QX orders ship-to-home improved online consistent orders of last sales delivered also mix in XX% in-store of Our expanding was percent was digital at Customer online sales. days. speeds, delivery pickup to domestic We XX%. at the total flat X of
apps on #X very We customers. on our ranked apps have Apple's all #X and I'm of on been focused Friday, pleased app Store. hands it shopping in that to say across the across App getting Black And
income program the rate full the changes rate of program and include When income for made the we made We with membership competitors. interaction From ended of levels enterprise our spend contributed tier delivered approximately benefits, comparatively Buy the at Buy expansion million higher basis another with of we Paid the year-over-year shift and to X-tiered a Best you memberships. quarter contribution. X from away paid across Best higher higher-than-expected spend consistently free the paid impact XX year. membership our year perspective, midyear changes showed operating a of members members levels points of of quarter the to operating and My financial
of target And for basis our Best points contribution XX operating income the Buy Health business achieved year. its
used In and of Brigham, platform with our now announced care at partnerships being systems the Geisinger addition, home top General is Advocate Health, Mass and X the in we Health in health U.S. strategic XX
forward like Now fiscal to to look 'XX. I would
this increasing of industry to stabilization. be a expect We year
our to is not operating maintaining, our experiences and XX-week a strategy rate if focus customer as pilot effectiveness Our on to industry while basis. are sharpening approach four, priorities follows: three, and drive income streams. our customer one, positioning operational and Therefore, drive 'XX experiences; fiscal our efficiency; on invigorate incremental and two, explore, allocation; disciplined progress targeted capital and revenue continue expanding,
highest sales start a macro retail to discussion more continue there a There's environment, and industry At be overall have about the level, been lot I'll and impacting CE macro specifically. expectations. our with unpack. to CE and the the pressures
food First, prices like and and are for make have lodging trade-off but decisions. inflation slowing, to higher much has prioritize basics still spend and the consumers been
lieu is Second, consumer propensity services on like in goods, of even there inflated. has have as and too a to which spend the concerts prices there sticky vacations remained
forward Fourth, the pull a of demand the CE has does consumers significant X been during a When market. prioritize to the lowered product forward. product recently And of housing pandemic. pandemic and CE the pulled years. stagnant purchases recipient relatively a first have lastly, chain was innovation not include they we that of the years supply basics usually challenged need during Third, of the level
but much a when weight five, it has you each heavy of been so industry. the on individually, It's stack not about these the
transient rebound. low rates, tells that to favorability of flowing, this the trends continue experience side, in confidence leading and positive and nature. ebbing a us will they These encouraging that beginnings while of the several year. these we market are the are inflation consumer include are continued show unemployment, lowering housing all On in interest And indicators optimistic decreasing cyclical to and
years of declines. that industry grow after is a of will confident our remain again X We timing. matter This simply the
underlying consistent. Our is thesis
growth of a First, creating consumers' base products we believe installed much during the in was homes. the pandemic of larger that technology incremental,
next bot early Second, in the few tech of the the the and benefit we year expect this to in for natural replacement pandemic years. upgrade see kick and into the cycles
to are meaningful of more pause Third, a innovation a the returning during pace pandemic. normalized we after
flat sales factors the last high the in Taking up all half year to account, on of first and and in be 'XX we guidance expect these considerations down the our second fiscal into range a range, to the end low results discussed of lower demand. The of where sales decline X%, customer of year. comp is I a reflecting scenario of factors just half annual end our mix the the in comparable
in through we year. and the as computing are capabilities and even standpoint, a products growth upgrade new year to we improve more the cycles year From AI through sales early category featuring our momentum the show for full and gain expect category move released as replacement
the see this sales comparable fourth turned far laptops beginning positive in revenue We we to improvement year, for trending product our the quarter. by At for partially rest slightly quarter are offset our are stabilize the year-over-year as the this time, point so growth already flattish categories services through and to positively slightly for down expect and revenue. full the of of year the to in continued be
we level materially that AI-enabled interest, universal already TVs, though to at open Also, full phone there the examples overall, glasses, we normal. already are Ray-Ban year Electronics seeing introduced more of devices, of XX-inch will and including innovation for believe through sales expecting growth felt VR/AR a smart the tech EV expected, January drive the for Show content name both the expected few. cool emerging flattish headphones, we year Samsung exciting Even than the year, screen new Bose in back devices charging and a new and to Consumer of proliferation we are demand many are
it Of still of some is from the course, some that consumer a over while new years few hits tech launch. of the cool market following year
like that fiscal priorities industry Now I within stability. to capitalize on details provide the on initiatives some would key of each to more our 'XX of
our As progress and I invigorate first priority mentioned, customer experiences. targeted to is
is Our materially first personalization. initiative to elevate
identified and are We increasingly annual XX% highly customers. our relevant personalized, for on content We to attribute of providing revenue customers. motivational roughly known can focused known our
with around paid start program. our Let's efforts our membership
context. seamless, unique preferences on creating members based their we're Here, for experiences tailored or our
of member member and focus deals, the experience Our our of offers great a the we app members deals member on thousands great most experience Rather preferences their than on first is data. with bombarding based example observed relevant this. on
POS, personalization associates information offers. include about and protection props journey, plans their sales provide at contextual relevant savings, across like membership and this with we're both later customers year the to membership will Additionally, including rewards, in-store adding where their
We include efforts members These messaging communications also to and more our retention. increase membership will dynamic to program personalized upcoming continue in improve about to renewals. serve engagement and will their
customer known advanced to broader leverage. fortunate tremendous our amount are about capabilities think for base, our customer first-party we data to we of have analytics As a
our we app. I'm our While elevating excited interactions, we doing personalization particularly across are are with about the work customer
actions and version We of to during are plan homepage to all content critical app that along most launch with stories personalization-centric with customers, a and second the the matter currently quarter. to customers the testing
to our into invest store The second back initiative experience. is
are experience customers to Our and particularly focused stores. customers stores our to assets in with ensuring crucial come that evolved fulfillment. X convenient has shopping Customer we into that years. the differentiated are provide last behavior this multichannel have experiences, time on the provide year, take And we services the when expect they
of of livening for major hold plan the investments touch the sales our existing relevant a leveraging for way the customers. shopping both also our number inventory digital single presentation chain merchandising efficient merchandising and result, and most lower and in to includes center and This in or improving We on refreshes and 'XX store some and improving the on need in more store updates corresponding to a fiscal of given As as to ease possible. openings. exciting, concentrated floor. It to are much shift our every stores capital ensure store the shopping on the remodels includes rightsizing in fashion, space we're the categories less
be will smart and imaging, media and removing home tablets our digital departments. we example, computing, For mobile updating physical
innovation, relates more share opportunity to investments vendors include this can experiences. excited as coming combined to merchandise for refresh A Lovesac every branded vendor also at in more examples fleet, I in are their to Tesla, and We this in-store year Starlink. our time provides The partner few store much it with plan even stores. our with our our
few Although experienced additional for a X test open are and important scale formats existing additional in 'XX. a improve opportunity the store we store same see we have new at to experiences believe concepts. large to planning to we continue centers opportunities outlet to better still remodels, At time, fiscal we
presence couple out have state we ability in physical to open untapped to sales no prior we our capture markets penetration share. will locations where First, of measure small and low our omnichannel a is
thereby we will learnings These our test collectively will a store store forward-looking a large refine open strategy. nearby, format to maximizing through physical continue format small Second, us convenience. retention close ability and our to store store help
to want Buy they ensure customers we In receive is experience, for expert a known our addition stores. to want they interactions our to Best the and great physical service when come
hundreds During appliances, 'XX, our we associates, computing. categories in will fully will back fiscal like store add leverage continue of also we stores dedicated multiskilled major expertise to and in key theater home but
these than some and against customers category-specific as a Net these a create Our better know down and sellers experience revenue our plan our certified selling garner XX% We categories our skilled is to nearly employees drive and employees. per employee. double on our certifications of for deploy noncertified most transaction certifications Scores on Promoter that higher higher average training for
customers online, products way tech. includes merchandising particularly will do new for it under trained in-store who featuring launch partner leverage our to else new for trade-in customers we us to strengths use the in prepared means be need and are one technology later is we this and computing make to both can the expected make explain you, to ready the and unique the to experiences launch. from to third presentation place the see values for great tech vendors best customer This bring sure to the be targeted to This best more AI everything what that important initiative customers can. associates who priority for no for ways are the when coming to new This expertly can fact, innovation In technology. life best all drive year
marketing XX% reminder, appliances. categories intend through in a I As sharp of just pricing. as hold well strengthen categories our initiatives market key pointed the XX% these and like the position in U.S. in share computing well other both major we outlined and over the in and to industries, roughly We X/X gaming share retail as television spend
Our year operational for is drive to second the key and effectiveness priority efficiency.
initiatives. existing fund to new business We and and a cost driving investment have inflationary and in our help pressures commitment long-standing efficiencies identifying reductions for capacity to offset
Our repair initiatives care efficiencies and are our reverse across Squad experience. on supply fiscal our operations 'XX forward focused customer and chain, driving further Geek
achieve This heavily includes will and on and to safely leveraging these to analytics technology AI We continue lean effectively. efficiencies.
calls. of it. drive AI Let follow-ups installation efficient better delivery leveraging customer experience. me we AI examples Two, points in-home the a are our using how leveraging provide few route from by reducing collection interaction a more specific One, trucks almost to resources development scheduling and while we're main to we the summarize to improves help and are and are It each engagement for customer and shared and effectiveness also code of of data generation engineers. time we our service overall X%. us enhance our our tech the average leveraging genAI To accuracy
the and begin skills. Bangalore, process give establishing onboarding India, hub also which year. expanded, will team economical open talent later access members more of will hub are technology and and to The this us We a in digital
necessary fiscal resources are on are rightsize ensure our for to will envisioned the than sure they to, at made industry These want the right providing current that addition, labor parts following: evolving expect decisions resources have two, see of due assets our of balance we do years ago. we operations. areas; to to few or of taking the In to paid are the make we business like volume we our us field corporate and to our we resources shop, other experience in to the lower lower membership redirect optimal whether we elements is where where one, like customers and sales make the model to actions benefits. directed strategic strategy 'XX, areas AI actions rightsize to result a and sure based dedicated allow
during first provide and be decisions through 'XX the these a will actions fiscal we of Matt half details made through will fourth later, in many the quarter, will we that which as year. restructuring While discuss the resulted the implemented move more of we charge
priority key areas appropriate allocation. that want prioritizing There uncertainty for capital to Our position continue the highlight. for industry. future striking This to third the few the with the in while key are dealing I disciplined of near-term approach to the prudently is CE will points include our a best year balance us that
First, relates and next, operations cash return necessary share as it isn't business, to and shareholders investments capital changing. in overall areas first fund to allocation grow strategy, We approach repurchases. to our free our flow to dividends our and still plan through excess
expected Second, a approximately year, capital planned projects. approach while a to planned and is lower in fiscal our expenditures for for store segment enterprise due expense. CapEx are Canada necessary Domestic $XX expenditures 'XX technology-related our at offset last by decline are chain similar investments and new in to level million capital to the stores This investment discussed year-over-year I earlier supply increase by automation portfolio to reflect
years, Third, with capital. will over our past practice several the to and consistent our working tightly manage continue we
a much keeping same inventory with uneven in managing inventory maintaining done possible. the flexibility our sales very have while, forward-looking time, sales aligned projections our job at as tremendous teams Our as a environment,
X% this dividend dividend quarterly dividend. And morning, a X%. yield straight increases increase This XXth year lastly, we represents puts in current announced our the of and our near
fourth key 'XX fiscal for in longer Our priority is focus. term
is this continue example The revenue the to will our Squad care and to to health agents time. use drive home. technology help expertise where we capitalize most developed growing scale and our Health, Geek over Best of opportunities leverage profitable leveraging We in streams provide of to are that incremental on capabilities our explore Buy
small with faster synergies core cost expected fiscal in expansion. to to NRI grow sales acquired from drive integrating income XX business, to another expected Health points than Best companies, are combined our relation the our rate basis While very which, fully 'XX still are business, core Buy operating of
of wholly Canada our example owned Another be as a consumer Bell across to Express. XXX was will is as Canada, subsidiary Bell recently Buy small-format These with Best previously Canada. announced stores The which electronics operate retail Source, rebranded stores, collaboration known
provider This for also Bell will as the collaboration chain, supply and to midsized will operating the Express marketing allow and of and as responsible assortment We labor be expected telecommunication provide will to costs to exclusive this in and partnership. services CE components be our store well the continue expand and us communities during out half stores are presence smaller will of across Buy Canada. year. the malls the Best in roll second e-commerce.
for vendors service examples our a opportunities continuing and business Geek our include Squad case program. of out build Other we adding are chain to supply partner plus as pursuing to
down U.S., as the year mark that Before the we will fifth turn second recognized continue our and workforce. we was to on touch share few on company call end, fiscal our year that being support From a the To to employee in and I'm part on traded also we standpoint, the turnover in ranks retailer and Just over publicly largest ways the List, benefit. our low communities. wanted and close pay companies which for its rates year-over-year are basis. evaluates a of I proud industry how Matt, Capital of employees employee this in anniversary I an turnover caregiver a the the #X our on 'XX to provide This invests maintain to the is
away most. time, we've XX,XXX almost who During with supported could time those that so X care for employees hours million they of matter
best leadership. North practices to to be for for sustainability. List, consecutive Climate year, looks organizations prestigious Index. Dow to Sustainability environmental which A demonstrate named America named, how also we the as annual associated were seventh the year, credited QX, the CDP's continue We in a at the XXth leader In We Jones with were just
technology to don't always industry. in assort sake And delivering technology. unique energized service for just focused that experience Lives Enrich the see with In a of are retailer human tech CE to changing through summary, We as on expert and We about we services, and range the products of largest humans. Technology deliver our customers. we assortment our product purpose and of vibrant, of specialty millions
expect to what experiences if we while our reiterate operating increasing sharpening strategy be on I income our maintaining, focused are on a want industry fiscal expanding positioning and year rate we basis. to our customer in 'XX XX-week a not stabilization of industry
position ourselves putting are and for beyond. the in best fiscal We 'XX
sales income to operating As growth, our we our and returns our to expand industry grow expect rate.
will I our QX to outlook. and more Matt performance call the now turn for on financial details over
