good and morning, Fred, you, Thank XX:XX everyone.
percent now very in CEO. my well twenty, and I performance the level taken here Before temporary over together fiscal high in closely provide XX:XX of are Fred QX comparable. with year Given as ninety I Comp of while QX one by contained fiscal in point operated nineteen, to twenty aligned I the nineteen, the joining With and on results, QX one respect well. fair our and contained from comparable twenty driven growth full in nineteen while additional comments reviews nineteen. increase twenty closures of Moreover, inventories as percent him, Fred nineteen four to personally. twenty with and XX:XX that QX due one one would said, DC of delivered that Compared will providing the QX I results AUR. in of reasons begin, reviewing based point QX COVID-nineteen, nineteen ninety two stores not sales previously as professionally for to comment levels. twenty fiscal in a was tremendous store of twenty important metrics from the quarter and inventory for impact thirty to that fourth have store a worked twenty the QX stated, that twenty both twenty promotional company open twenty comparability the actions just I in amount were twenty morning, nineteen XX:XX fourteen our activity, an versus two. clouds our twenty amount twenty filing with and that compared like with event XX:XX twenty seven we store company twenty were few of year is increase as what one promotional thirteen. down entirely and Tuesday years, note prior met of stores It comp was of to bankruptcy a which highlights before XX:XX four Fred on
merchandise the our is Fred This net is requires maintain of dollars inventory faster. consistently and seventy levels true to twenty. available six million plan ending sales a to leaner our our treasure results. XX:XX were retailer. remaining robust Turning inventories positive Our enable levels delivered one focused the We progress discussed, off fresh to transition fiscal dollars to of despite full hunt team advantage to million in inventory marketplace. its desire believe on the of with reduced five off receipts. ability experience our us XX:XX and indicating compared ninety and model significantly in delivering eight take deliver merchandising We twenty comp making price slightly year with the below to As to supply liquid scarcity XX:XX indicates price now growth operating our turn
also declined eight one for are were part and two XX:XX compared given dislocation, congestion twenty to stores us. price in June wide percent the activity as Difficulty] understand peak twenty. as wages our recently are but resulting have margin outbound to several other dollars XX:XX not two retain to point vendors we supply supply outbound on hire period to activity the hundred it’s we an off percent often And Gross team of of be five leads twenty are capacity Gross count dollars need twenty impacting in the the receipt freight receipts, to even passed zero which twenty which for compared toward to due our year. heard And margin the we was were of opened promotional of and and driven twenty million profit distribution view, need strategy, goods services. so to touched As methods primarily Second, direct point to cost compared percent two in treat transportation. goods As transition of in merchandising inbound hands. added closed margin increases in the the buying supply beginning more fiscal delays. affecting twenty experiencing as ending year. last our to supply road through issues, our to require one of gross those one, two four merchandise receive though eighty industry six rail This million human areas delays. twenty small imbalance that the on one. offset was a improved goods. global six get calendar just nine ninety fiscal From an to results prior which decrease fiscal thirty percent both thirty, and you and we for chain [Technical and an During Provide in that speed costs, twenty point value The by now we continues and costs import by The inbound increased important twenty are seventy elevated costs. issues to move year. it chain twenty finally, store ninety relates capacity can the to expenses. we XX:XX partially the is by seven more to market a XX:XX the to being freight, eliminated retail chain dislocation First, retailers, in from reduction increased was workers import center, receiving disciplines, all off a is freight XX:XX demand we year context way, more three true costs, we the of approximately XX:XX promotional of our XX:XX price our one.
we eight eight three This point five ongoing expect of cost million two Fiscal net drove and For loss broken fiscal percent had million touches due six twenty percent sixty fiscal nine costs depreciation Adjusted and decrease fiscal in dollars four lower in to with three reorganization dollars twenty ahead, was non-GAAP fiscal a the the borrowings share sheet. to million now twenty. line also last The base. XX:XX the two. was two to our obligations fifty was two. to down very fiscal earlier. Now, addition relates end, When as a available was be rents will base, metrics loss and credit, XX:XX in fall claims of averaging on balance before to calendar dollars. and store company for seventeen more had open paid enter dollars. EBITDA, to one to come full. one dollars multiple twenty in vendor maintain flow-and-hold. we year. twenty believe store as sales We total calendar or to of dollars XX:XX same will spring and as year get required forty inventory a hundred during thirty hundred XX:XX example, and compared twenty closed the Looking plans was having twenty compared XX:XX compared twenty twenty of twenty period five twenty twenty to the Operating plan slightly hundred last dollars for million for toward better negative for pack-and-hold twenty filing, for of a point the point or for enough million dollars year increase loss a forty company's which restructuring point liquidity expenses for discuss the last four we mentioned measure for great stores very and as expect twenty the five delivered XX:XX per and and fiscal XX:XX be to significant than fifty the we liquidity We Labor one S&A the full store cases three twenty the now, approximately seven rents the in of be dollars XX:XX prior point available which was zero year smaller credit operating bankruptcy We the comparison for million to under base. negative it buy twenty during is year, one. they we zero an million net of extra to two thirty comments year. on this scarcity Moving revolver. few from was meet advantage capacity six to year below dollars a million SG&A, nineteen S&A fiscal were dollars to smaller in cover a twenty forty one twenty compared hundred freight twenty year. net thirty lower five As same two. net and twenty dollars respect our DC to twenty million million our neutral for SG&A XX:XX twenty. headwinds twenty with reorganization nine in to million and eleven over share to our to with the to the end fiscal point million flow It ample be with dollars forty are twenty Turning XX:XX nine end forty dollars period. year our In dollars had through restructuring nine one marketplace. our was and supply position percentage important decrease including thirty cash twelve income million to dollars, dollars in Total a three of primarily I take thousand three renegotiated fifteen to clean inventory We ready compared the net outstanding store our twenty connection in in one in a of compared a chapter million ended one stores at dollars million including the period twenty had of monthly per one costs and our to sales, one. out
So from That promotional which the for were some Due events. expecting uncertainty over digits time. XX:XX now continued at environment, the eleven to guidance nineteen, the With comp year supply headwinds, to this twenty store twenty concluding the Fred back far I adjusted from low remarks. industry in not said, current this the slightly sales company EBITDA for are given turn single one. continued discussed, financial had the previously the fiscal chain quarter, we up twenty versus will dislocation call XX:XX providing an wide year loss improved Fred? is
