discuss first XXXX. Lifetime this we financial several quarter and performance thank strong years maintained you and Thank joining results. during results you. today achieved XXXX for everyone first of the Good to for us quarter Brands’ have Lifetime has morning,
quarter of continued result achieved quarter during nature strength first only shows year. Compared as This of inflation, our declined profitability our XXXX revenues, business factors income first in in the first and operating of profitability supply we for Lifetime company’s time quarter war of a record where strong the the the EBITDA second the disruptions, seasonal as chain model. business until the of macro net other impact later adjusted our the usually the such year This to Ukraine. driven quarter by in history delays which is the was and the
Our gross result the a quarter of margin declined also year-over-year in these impacts. as first
income, is the disruptions, supply of is relevant impacts and Overall, to compared XX%, benchmark to performance inflation in COVID progress in XXXX pleased However, quarter. prior our and quarter, chain during which the XXX% the are the XXX%, EBITDA and significant the and XX, adjusted our sales, operating respectively. growth business a net operational macroeconomic with we
order market million to long-term first flow, of We adjusted product by on retailers have to we prior we well favorable second which gained on the in many were of growth of the inventory Aided and XXXX across EBITDA our progress substantially a and A COVID impact channel. will gross also Lifetime business, able Accordingly, in in with We or increases on Price new demand on the percentage negatively shifted U.S. impact continues which quarter had at retailers the impacted inflationary our have pressures we In more our price positions quarter. to touch improve made and of in in a particularly also generated I planogram margin which plans. to over industry achieve on the last quarter the additional be from compared streamlining onset softening share were maintained we resets, a our months XX large within $XX.X omnichannel remain continues higher later. the delay track increases. core among through and end-market and to introduction the very detail saw our targets, to categories in by product Sales XXXX. segments. benefit in online of levels their revenues. favorable perform mix, a
KitchenAid and We successfully in well the line the cutlery expanded first the performed brand also quarter.
on this were demand from far. sales businesses. first we will Walmart of conversations additional brick the demand and our channel percentage inventory in this so been remains mortar to year, quarter in e-commerce beyond. in Of e-commerce of brand On portfolio. are absolute in our ago. not we the a our of declined an beautiful integrated and in plan dollars last quarter Lifetime to we opportunities call, at the seen & growth compared acquisition Our good to other product S’well’s Over percentage e-commerce in retailers particularly channel, to E-commerce the into the retailers this first PlanetBox driven more which Bottle, a and contributions have in particularly On year slowdown S’well and consumers the categories, since channel a XX.X% adding impacted in has were Day at having of note, quarter. continue quarter. and about and make which uptick quarter progress, discussed material positions with second in with create pure-play we first direct-to-consumer, Year and returning higher Amazon XXXX XX.X% Amazon. The by retailers
over We orders. Supply shipping freight continue with to consumer availability and out delayed costs costs in led be which higher time. sales with continue expect freight increase delays and a cases, to our in to coupled and shipments to and, direct have canceled challenging chain availability few
carrying of inventory We have maintained challenges. of strategy to these high levels mitigate our
in we are ocean to freight XX% impact advantage our Lifetime XX% Of long-term distribution we to gains. and shipping XXXX. solidified than compared strong into for has we have remained contracts in costs, continue we translate distribution with contract to ocean competitive less have anticipated. freight over a strategy recently market high a of that shares this Having rates expense, our line which note, increases currently positive our this under our While
sales to more in shutdowns faced our European European our business Europe by Despite achieved in Asia, decline our prior resulting and headwinds our resulted international relatively Asia. and Zealand from COVID to overall our quarter Australia declined, year. now chain in New an prior caused business, uncertainty severe In business supply significant sales which demand for issues, year. these Ukraine due international business in with flat challenges, to the war compared Turning the and
progress evidenced these in as our we direct whole, a by as and gaining continue Europe traction make are to Taken exciting model. with results,
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to we both and However, see European forward. to France a expand large moving markets within opportunity other
was the new initiative with in Netherlands while give March the costs second distribution In going achieved This our addition, top by business. in us the operating our the for online, and quarter. to we end an functionality European facility reducing full important new facility at of line will strategic ability be our will grow
quarter, one-time we of some costs from moving UK incurred over This upfront initial our as result inventory facility. a
to our significant which gains in of ship take will across the be the within XX commercial already facility quarter. business back XX the the an hours. from the first matured directly delivery to in our in and In foodservice, manufacturers leader house forward, made was Netherlands Asia able continent Going industry
making progress. and initiative for business ramp to as have growth strategic front we exciting of the our house significant Hospitality, the Mikasa The importantly, Vegas. one account continues Venetian in More additional Las is such up
business senior business new we executive with We out of continue recently drive hired and years forward. build to a the experience expansion the invest foodservice in and top commercial our foodservice talent run to XX to
into Finally, Lifetime continued outdoor, categories, has storage adjacent organization. pet, its including and expansion and
categories, some the impact with promising coming additional benefits year be our realized this Following years. we last to across results year over positive anticipate these
line Let press guidance recap, me moderate financial now in of will down year a expect full-year achieved not during XXXX remain to line release To see bottom morning. to will our to in or issued XXXX. pressures to be ability fully for our We mitigate we with until We the turn cost anticipate XXXX. this our inflationary top classes remaining growth impacts XXXX our such accelerate compared the and guidance. slightly discussion
During generate strong still expect balance sheet. the cash supporting operating liquidity ample with significant our flow to year, we
guidance demand inflation as XXXX not a that unique Lifetime to seeing the result well of Europe supply I are the reflects as continued as we and that in are softening uncertainty Our challenges of continued discussed. just chain
the And we we remainder with variety to the these As a ahead of the look persist pressures limited reasons. remainder facing of are throughout for will we visibility world XXXX. expect of a year,
has in business all model resilient confidence continue the to proved us our to environment. However, giving in market cycles, through deliver strong results ability current our
in inventory enable continue and maintaining across and sheet competitive remain market advantages Lifetime strategies for as invest or balance that strong us significant cash Our product we our other generation to categories. gaining share will levels
us improve and financial will against and objectives. us to our initiatives, In operating margins long-term to brands, addition continue maintain and to gross our we profitability drive and that enable execute growth to margins, shareholder believe flexibility strategic leading value significant our allowing growth and
Before Larry, track my the remains comment start I at want remarks. our to I expand of X-year Lifetime announced made in hand I plan. to the we the on call goals achieve over to a on
We efforts sales taken kept the with results that were have progress XXXX. net in have generate EBITDA confident in and remain of While million coupled course. billion our us year, for year, team over $XXX year quarter outstanding our approximately our last the to mitigation ability on down made the by we $X.XX
over effectively manage our years the as progress cushion made Importantly, have goals we achieving challenges. towards the some through provided X we remarkable current past long-term
As by adjusted a and EBITDA XXXX XX% XXXX. reminder, we between almost grew
to plan ability that, growth of through and advance cycles of strategy macroeconomic now have shareholders. Again and turn positioned on/or With closing, our is demonstrates create very and conditions. in well ahead Year including again, expansion achieve term. the performance strategic in our this I incremental we as and our profitability to the on announcing growth acquisitions plan November foodservice markets, through expanding track & Since am proven have into business continuing to to for progressed and we drivers. Lifetime right long executing confident we and continue on variety call growth all one and of categories, navigate intend in environment our Day value multiple growth, forward will continued and over every a despite the we adjacent international S’well. will We well organic recent a last for single markets, commercial these Larry. forward. recent this through look across levers our of I M&A levers, So execute year, In disciplined, are are presence X penetration current manage to of our to of the shown to We stronger the current further such we prepared
