Thank you, Andy, good morning, and everyone.
mix top a sales, our continued, to managed helped High-single-digit digital activity. our report We team quarter. COVID-related we the higher less, earnings sequentially margin share skillfully part during shift strong the and towards very early gross in pleased greater ongoing sales offset headwinds executed are the discipline environment. of delivered line and gain back-to-school, from growth of comp the and third dynamic management, high growth to that in single-digit pressure well to expense in a Despite albeit X.X%, per with promotional coupled
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due base As to temporarily Dick is our over store of closed restrictions. XX% recent mentioned,
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school Store Although this August high-double-digit very starts than later down September continued protocols. overall, remained of geographies, sales shifted a October. digits offset the double gains timing by had we year, and distancing in low-double-digit a challenged, back-to-school more season comparable traffic in was nonetheless strong social given across decline
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and enough the American In North men's, men's kids. business board our gain offset solid the nice a saw in in across assortments. not European declines with to and gains women's Pacific, in was apparel Asia women's kids Our strength and businesses
income statement. Turning to the rest of the
from margin last in XXX quarter year. to delevered XX.X% gross points Our the basis XX.X% by third
clear carries basis to Our merchandise primarily margin decreased costs. XXX which points, by aged and greater shipping rate goods driven a higher of markdowns DTC, mix higher
mentioned, allows quarter. moving slower flexibility portion our given us return to as markdowns, in a a Regarding of that have Dick with product them vendors to we
to significantly COVID-related compared All to of of RTVs, or from our said, lower to chain returns helpful, in the that those margin disruptions goods. product amount because RTVs. However, QX. the has less allowances a merchandise clear year, been higher while of reduced, QX as Markdown in this vendors, vendor promotional impact were resulting was activity supply pressure enough not to offset
X.X%. aged was the currency-neutral and season. in decreased Our of in occupancy relatively Leverage level relief us points actions fixed resulted head This quarter, versus composition down in inventory year. our improvement product into growth. as both sales of the large onetime with to inventory part tenancy million of last to clear the and At inventory due compensation of primarily abatement. healthy buyers' $XX we a quarter-end, a high-single-digit provided XXX to rent was our basis holiday X.X% compared On basis, comprised COVID-related position, during
negotiate on basis actively to in in of XX.X% partners a our year ago. improved the our expense the We continue to SG&A points rate XXX landlord front. with period quarter XX.X% this We same by from sales
year's a part of credit points basis amended our facility. income, our basis, due On geographic limits to our on XXX last basis, to above last mix given losses incurred fees million effort our tax rate a year, or last came to Depreciation income SG&A to rates the year. in higher for tax XX.X%, XX.X%. interest of as benefits roughly international well compared came the team's interest related last than as to of equipment tax despite operations. to for interest rate at incremental of to in expenses Our our relative million, at balances to QX was expense rate On $XX million $X GAAP as higher in cash year, PPE. ability $X of protective certain to book lower related due $X disciplined on flat non-GAAP XX.X%, manage million year, personal drove lower expense expense We last
last in liquidity, we liabilities. year, in and on to borrowings $XXX million equivalents, And credit at cash have of our $X,XXX $XXX quarter increase no an of QX million facility. ended outstanding we increase the with of our our due Looking the million part from current cash end the
into including terms as we to approximately year-to-date bringing million new the our stores. year-to-date This funded the in community-based the or openings total the invested well XX million. business Compton, relocating West first eight $XXX capital of In of total the $XX quarter, Coast stores, Power opening XX of Store as to bringing expenditures, remodeling stores, our California, of our during opening
We XX the also company-owned includes leaving Runners closed stores QX. in XX which X,XXX at stores with end us quarter, doors, the of Point
the For relocate now open approximately expect XX we full close remodel XXX. year, and or XX, stores, to
forward, million Looking we prior guidance. line our remain in with for on the track to capital $XXX invest roughly year, in full
As the me incremental potential we brings lockdown, us with about net think to our months shareholders. reserves to believe fluctuations in to availability ample we the through This positions of credit and to continuing the invest liquidity coming for strong COVID-driven return while and near-term cash business. cash manage our
Board quarter, our week, quarter. $XX fourth to Reflecting $X.XX program, earlier of per our to confidence opportunistically this in shares repurchase dividend shareholders the our for With we This another share returned our repurchased we million XXX,XXX position, financial reinstated respect million. the declared in share $XX form for of dividend. our
additional will XXXX is continue to COVID-XX positive potential vaccine environment. assess most welcome on update. based a We the going in buybacks for forward, The
factors However, pandemic behavior and of through and the season. holiday with lockdowns increased the impact over the these how around coming extent uncertainty shopping restrictions, effects of the the may weeks,
not are providing We this guidance at time.
be made less margins our it progress may with given merchandise on QX, the the margin, we to you in pressure to promotional in QX consider models we following. as for inventory, However, respect now With gross helpful anticipate about QX. your think
fewer markdown However, similar QX, result anticipate RTVs, could which rates. in to than we normal still higher
we relief gross forecast less Additionally, SG&A, to please freight currently to benefit don't in the in closures headwind. for in had points. factors. Despite a respect basis XX the a elevated of to to incremental following QX, SG&A remain bonus a margin and account from a rent recurring that benefit government contemplated. costs into likelihood provide With not we by this QX We QX to presently XXXX expect is true-up of in positively impacted XXXX. subsidies We SG&A of QX, anticipate store being take
Lastly, we foreseeable continue ongoing to expense be PPE an future. for expect the to costs
to tax non-GAAP we elevated at the Looking shifts it levels as geographic relative our may significant expect variances result income in rate, full remain quarterly year, to rate. and the historical in for
Greatness, Finally, team, on safe I With and of XX and a the season. open for to that, a wish want behalf of up the entire healthy happy all Foot Locker operator, holiday and you questions. happy Thanksgiving, Days call please of
