record of quarter million first or million closed last you, This Recall sales quarter during XXXX, year XXXX. first the of the first compared to to of XX.X% represents quarter due the fiscal Thank XXXX. $XXX of sales compared achieved were We an quarter pandemic. of a XXX% of stores that for our record half increase the to second Carl. the nearly the fiscal number increase net $XXX.X first fiscal
will of fiscal first quarter quarter store XX.X%. the quarter sales the first store the Comparable sales we fiscal comparable quarter first quarter sales sales represented merchandise nearly increased fiscal first of the first circumstances, of first increased XXXX of fiscal compare the compared to XXXX. XXXX. the during XXX.X% of certain XXXX. total in Compared in to to fiscal such, XX% XXXX As of of XXXX, fiscal E-commerce quarter
generated sales quarter quarter As first of Cliff double-digit increase of first in XXXX. low top on increase and sales e-commerce e-commerce a in the of we Mark noted, XXXX the fiscal for XXX% in
Our total consumers’ reflecting fiscal XXXX, again. first XXX% our desire up to shop brick-and-mortar quarter stores comparable store were the the in in of sales
Carnival XX.X% margin and increase XXXX gross of an quarter high the was XXXX. of First record represents profit of a first over quarter Shoe XX.X% fiscal for
of expenses sales. Our decreased X.X% merchandise a margins distribution increased buying as XX%, and and percentage
To a Our the which our activity significantly low-margin further, promotional effect were home drive a decision XXXX, significant a point to the normal during also margins little eliminate above had quarter quarter more on margins. first is considered quarter.
fiscal $XX.X marketplace. quarter, when XX% Merchandise the gross sales First as percentage expense XXXX quarter disruptions the full the open first margin decreased of million. X.X%. and increased significant occupancy quarter tremendous distribution over increased and X.X%, there stores the This in were were a quarter less SG&A reflects expenses million for in XXXX to of $XX.X increased profit margins improvement buying over XXXX. first of XXXX and
net the sales, in this increases quarter increase XXXX. compensation. expense fiscal expense XX.X% credit and quarter SG&A to first further nonqualified to deferred plan. quarter for charges the earnings compared was the in Approximately An decreased year compensation, last in of additional XX% to of on in percentage incentive XX% the performance-based and increase of of compensation card were compared our of SG&A year first XX.X% first a XX.X% As of in the
all the of Our expected performance first annual was rate for record tax the this fiscal performance consequently, annual year the in performance-based the incurred income year. target the first first expense effective in tax first The quarter implementation quarter The primarily and quarter prior exceeded impacted for pretax quarter virtually effect lower rate in Act the XX.X% CARES income of of permanent quarter deleveraging year the and the in our XX.X% of was XXXX by XXXX. differences. the higher on was first compared compensation to
of was compared tax full to the our Net last fiscal per income to per diluted the For increased of tax the share recognized be XXXX, increased Compared quarter the effective first of $XX.X year, of $X.XX net per we for XXXX in for diluted rate $X.XX comparable million income $X.XX. loss first to a first XXXX expect quarter $XX.X XXXX. million income share. to the quarter share rate XX.X% Diluted to year.
to basis. affecting and We on year. of XXXX ended a first per-store compared prior quarter cash million, or information down last in was quarter inventory to which was compared year million Depreciation $X.X amortization the the $X.X flow. Now expense first turning in with million million the quarter to $XXX of the X.X% $XX
As aggressively capital of Mark be and relocations the range to used are million million million $XX store. remodels, planned that $XX the modernize to fleet and we million, expenditures working $XX on our $XX of to mentioned, with in new to store expect
We our spent on with spend various additional on million $X distribution the improvements, technology to center normal expect store to replacements. investments million upgrades platform, $X and e-commerce remainder and to asset
expenditures remain planned chain quarter, $X.X the we the Through Our on of have changes capital approximately with majority with first on million ongoing projects pandemic associated subject to disruption. those near-term spent supply remodels. and
had of XXXX, $XXX cash we million. As X, May and of outstanding equivalents cash debt no and
Our will $XX.X at end million outlook free final the borrowing on quarter. was for the the cash $XX.X our million. second quarter, capacity of we flow of and today be comment My generated
merchandising May of into the in with for the up have sales continued weeks margins our comps the mid-XXs strong second Our first and quarter. X.X
we our we the May stores expect comping turn the sales reopening this year. sell start last pace strong However, we and June sales to when after moderate
opening June year and began our late in April, by X. You opened may were last recall stores almost all
last sales Our XX%. June year in was store almost increase comp
dates were quarter years, this Unlike of we fall Additionally, start prior question the a in in X sales have time. very the in semester. the serve sales the areas few which of schools weeks typically the last for drive back-to-school announced strength the at
will most appears at least sales earnings, a in-person traditional have and the and learning, will August July openings, schools date. benefited school which likely part-time to or normal is will less it later at late QX understandable a as While commence as it whether early resume
and of and our sales accounts this diluted We majority range have for factored expectations. this into of the guidance, EPS
Now for the specific guidance.
to to second of margins, $X.XX. higher from $XXX all-time the expectation, to our sales to sales million; diluted low on For in between to double-digits. sales high EPS are and quarter, single-digits merchandise $XXX from high Implicit QX, range $X range decreased very we expect based comparable the million
increase However, low when was comp QX compared XXXX, digits. year, EPS to sales $X.XX. million million QX store QX sales and a mid-single were In diluted to last $XXX.X XXXX we of expecting results, are sales sales $X.XX. $XXX.X were and EPS diluted was In
this uncertainty of Cliff and business in continued the in-person only consumer will fall. timing Mark is directional there the the uncertainties, to both supply including we environment, and behavior, half disruption ongoing Due at As the in mentioned be time. guidance earlier, the chain spending second for giving learning
second to we the second aggressively performance. with the of and and year's results increases diluted in comparable with government our record the year store year focused last half Our sales and assortment stimulus, customers direct half second these significant in change be $X.XX. this This of merchandise government stimulus, along and We flattish the in results expectation last EPS down. half and a slightly last half reducing diluted record are X.X% EPS increase of return in our merchandise drove Based sales focus, communications margin a low on our and second to decrease anticipating of merchandise a promotions included the in year significant on margin gain instead our began CRM. in through
of concludes review. would XXXX, to half both merchandise second the when this year. of This increase to sales margin financial the the in our second However, results and compared half of we expect
like up for to I'd call Now the questions. open
