good year backdrop, challenging and afternoon macro We a part during a the quarter, latter intensified solid amidst quarter. with Kosta, Thanks, which started of the the everyone.
to and factors Kosta Asia to primarily lesser region spoke the QX, in degree a our impacted During Europe.
stores in constant and XXX up were stronger brick retail and in quarter the rates. versus The tourist of up total our QX up resulted up and year in India $XXX retail currency channel From XX%, Conversely, From sales. basis were Sales you and with sales net basis. walk sales concessions Europe to such sales the and at the came in XX% sales perspective the region in sales a Korea Mainland region constant revenue dollar in approximately traffic stronger in through mix. were that benefited a down dollar million, down In and XX% XX% X% were market down and euro. the currency, versus as travel currency have net me points in China stronger half mortar perspective up year Americas headwind were Other last year. regional constant China a XX% constant XX% versus double-digits. in constant Sales currency, when year-over-year XX% in and net were, versus represented last quarter. versus throughout from in also still reported decreased on in in up our markets X% historically stronger Let the sales XX% front of growth. Asia, a sales factoring wholesale at of but X% down up the the ago XXXX. digital currency Mainland throughout a
As digital sales were decline a third-party the global owned platforms key and for e-commerce sites, on drivers in sales There include wholesale.com. digital sales. two our reminder,
vast the shifted and other Mainland lockdowns mix sales China. China to in reflect sales majority Digital Mainland delivery First, non-discretionary the of ongoing consumer in categories. spending our impacted
our digital and to owned quarter. to sites e-commerce sales Americas Second, in Europe traffic contributed the declines declines in our
ago owned store our global and sites more XX% e-commerce a declines outpacing DTC in sales own stores, retail quarter XXXX. comparable were and declines our XX% were, sales revenue regions. and each e-commerce stores. stronger we end on our with of down our up company-owned stores And mortar year sales brick of growth e-commerce the from We traditional own However, when and comps in traffic versus than XXX with with in X% sites combine the offset ended
our overall base store program our continue store profitability. we As to improve rationalize our and
the QX our overall our category improvement all Jewelry X% in-stock brands. as increased a across of growth drove to owned increased increased channel inflationary categories well Net sales significant despite sales our offset costs. as increased leathers sell-through including constant constant activity in year's distribution leading LTE due product we of were older Turning to year. smartwatches and Kors, as XX% prior the XX% a prior grew launch growth distribution in Net as positions our worth category growth and a sales down majority in combined our In major XX% licensed all Mainland double-digit is excess our retaining in on down with which versus smartwatch position plan our wholesale generation we category of our channels. that key digital with focused sales and It’s in to in products, helping broad-based its more Sales noting watch maintained on sales currency, currency, Americas more which regions, currency in brands and in global in as China, platforms. of QX, in have of traditional prices and margin better to net broad-based largest margins. improvements in and a better Fossil level This Armani liquidation across in in and us currency, of in performance. and year-over-year constant e-commerce declines focused in serving sell-in, with XX%. drove other lower the constant our benefit were lapped stores
have We overall has taken while with architecture thoughtful impact of no a strong pricing take us inflationary allowed stock to a that the on environment, approach maintaining observable demand.
due basis higher P&L, versus margin unfavorable costs; year-over-year primarily through points three first mid-quarter and and These freight XX%, to region down stronger attributable due product global lower points APAC partially was quarter sales; the Moving down duty offset decline and factors, that were to gross elevated XXXX. reduced is mix costs approximately improvements, basis smartwatches XXX primarily selling. dollar. XXX to flowing price by and increases The of liquidation a margin U.S. began
operating improved impairment we costs World versus year. were last Both wound down costs flat $XXX down Turning Total as the to were versus million, costs year restructuring New as under last and expenses expenses. impairment year. by which X.X% Operating a costs, percent million, program. transformation XXX were up sales $XXX basis restructuring costs, excludes points. of last versus X.X and SG&A Fossil
prior operating XX costs overall SG&A with labor X% last up $XX million as loss margin XX.X%, arising interest costs year. store period. million of a was million, to compared to store negative $X.X X.X%, As loss $XX points our was was percentage the versus period Operating last were X% margin increases year. and versus $X of basis period were year. balances debt the was QX from digital down versus due the an partially sales, the $XX count in operating million, offset operating year initiatives lower year In in negative Adjusted debt. prior to investments million Adjusted versus QX, ago year only compared X.X% million, in was average cost reduced costs year. $X lower negative expense compared and lower last prior to negative
of XX% income QX Our or loss $XX million. $X.X was of provision tax negative million our pre-tax
of to Our from per quarter's expected is share compared XX%. basis, per was the applying loss to $X.XX, per to full-year full-year the diluted quarterly tax in On loss a loss share in to period. $X.XX Diluted $X.XX period. derived to adjusted between rate tax the compared an $X.XX, prior XX% tax earnings. effective provision was year be share the is prior The year estimated effective rate diluted
were balance balances strategies inventory the considering liquidity level Company's our valuation, to from Longer repurchase in and term, allocation will a during as or sheet, our as is as dilution well in-transit Under chain to this end at profitability million current to inventory share evaluate offset repurchase our near-term of XXXX improve. the at grants. we flow, the continues and extended of transportation the inventory $XXX X year. supply we activity position XX% Looking quarter. repurchased primary authorization capital The constraints. shares times, purpose the higher overall a reflects planned have strong increase last of million up increase off QX to we as Coming due receipt levels stock
Turning our for outlook XXXX. fiscal to
line first expectations. out our The quarter played in with largely
Kosta some our in international markets creating near-term intensified, mentioned as operating headwinds. have conditions However,
dollar addition, for operating our the currencies In balance subsidiaries. conservative of many foreign year. the has more against the the major of we view a strengthened taking of are Therefore,
revenue previous a in basis guidance of X%, expect prevailing from outlook key point XXX our traced previous revenue Using flat growth, two full-year drivers, X% of international a be can to primarily revenue in point in the lower of down the from to revenue X%. impact range, decrease rates impact to markets. be and XXX fiscal basis we in to midpoints and XXXX, For our the current now our range
each rates, on The be respective that its basis estimate headwind acute points. First, to most dollar XXXX. with the fiscal our versus XXX estimate QX using basis stronger prior in of This impact in XXX points our approximately top in result will line an of estimated year. in XXX will and we points previous basis prevailing QX quarter compares
measures prior our in international Ukraine inflation this energy are food our driven February, to by expected points. in primarily expectations region, is headwinds quarter. from the into assumptions, the Mainland It's with aggregate see consistent as we that second our to to regions are China guidance revenue basis war noting well as control signals some channel increased in due COVID consumers Relative we that by Second, Americas in and the worth prior our do the today, although is persisting XXX impact everything growth in the global higher region. that remained from approximately in within demand here demand region and see driving shifts lower in
that of the in dollar cadence anticipate the XXXX, impact year. for the result stronger revenue at prior revenue external Looking half remainder QX year, of of sequential contraction the the in the versus the we will with improvement in and of the headwinds second
Turning now profitability. to
carry headwinds, driven our higher take that We I'd Christine a to to expect FX well some back as X% full-year through like typically mix margins adjusted from from X.X% Q&A. lower be call the operating With which international us to to of between compared X%, as X.X%, prior to to primarily to turn regions, some guidance revenue impact by margin.
