It's Cody. good Thanks, to be with everyone.
brands rough company's exchange our go As waters there presented markets our no uncertain one An [Technical as down to Difficulty] will volatile the navigate. environment, I foreign of backdrop, XXXX, supply challenging a it and extremely currency on in history. reflect doubt tough for macroeconomic most years is chains inefficient consumer
in our times. team uncertain We are these of and tenacity dedication proud
our their all first all across efforts. brands want to the people So I and great recognize of
sports business Outdoor set challenges precision the weren't facing of well our of North in severe that the As our the segment. and wholesale of American focus outside acted headwinds. towards were Areas as markets in, most quickly areas pivoted the we
reductions, free expense debt prioritized also generation and reduction. cash We flow
This times the to we on equation, over flow million of reductions. $XX down $XX the at used enter we leverage million a us believe allowed which we end it is cash cost approximately low the range fourth X cash pay in and to We side comfortable our generate focused which spot of and quarter, the quarter free On this during leverage, streamlining inventory at into in ended we debt. is XXXX. as
segment sales Outdoor much apparel as Zooming have in record XX% our decreasing grew increasing to inventory of by the revenue out XX%, We specialty our by direct presence XX%, this consumer in retail our by full Sports of year, our debt. well. on the year, growth, drove we proud deepened paying down our Precision XX% and be focusing in by channel the grew to our business half second all while and expanded on by segment
been our totally However, the destocking XXXX, fully has tested North Negative inflation were weren't inefficiencies I by immune with our to in difficult at just supply second we larger accounts to America the a brands consumers currency, continued inventory impacts mentioned. during of chains and for retail foreign half rapid offset. our associated with confidence challenges
level, our or growing consolidated down a to XX%. on were QX million, continued basis, down Sports market mentioned, basis. fourth down quarter currency $XXX our Breaking at as on constant outperform, performance result, a sales XX% a segment Precision As X% the
currency. in a a Our XX% constant or or Outdoor on Adventure segment basis XX% declined currency our XX% and XX% declined constant
outside last control macroeconomic Like hamper profitability. our to quarter, of continued our factors
EBITDA Removing adjusted freight incremental these million by $X.X resulted additional EBITDA adjusted with Specifically, million, have in in impacted margin unfavorable been movements $X.X had rates higher estimated in XX.X%. while consolidated challenges supply would exchange negatively currency associated costs. QX costs foreign chain costs, an our our
trade stabilize. We are as believe to elevated transitory continue chains supply costs
levels to are back making costs in lead and of as we fact, reduction times the progress In are container decreasing pre-pandemic well.
move back the of As such, environment half a currently normalized we expect operating XXXX. as towards more we
like In provide time, this our level markets, segment international would at additional segment, experiencing highlights and I Outdoor focus global same with in starting has in our of the global distributors. Europe to aren't that Europe the magnitude which to our At on distributor our currency the market and quarter us constant growth of X% American XX% fourth inventory North overhangs the allowed in drive international Outdoor.
a our foreign some mentioned, constant million experienced fourth I currency channel level introductions, the $X.X dollar gross that FX product of margin. margin basis basis pricing, segment gross outlined we of headwinds $X.X the year Despite impact point significant on impact. Europe, strength the headwinds, context quarter XX.X% would the XXX the the in and and improvement marketing provide on activities just full basis due initiatives. in Outdoor productivity foreign to million have to challenges XXX To the Without Outdoor increased nearly margin new a our around currency headwind the of a for caused and impact quarter currency previously endured segment fourth sourcing points in development, the
demand quarter collections. outsized We our Doom expanded Hybrid led shows Apparel continues to sales the and with our growing experienced Patrol snow XX% Recon up be year. XX% category for for the and our outdoor fastest by for the
Our have in way fabric four consumers our innovative been for this unique new brand. and strong stretch sets drivers feature
are integrate believe technical to we path. further continue our and demand will we features, our this As and fit components, increase and our growth awareness refine overarching
by engagement opening quarter up bright in flagship and very term Internationally, gain intentional to core We've market long spot business, alone. continues been retail business consumer also Apparel XX% perform down community about in direct-to-consumer on segment share. XX% sales our doubling driving with up Our and and a year-over-year Outdoor our direct our a fourth with to stores executing our e-commerce. investment well remains
the sales hampered currency has availability, by Demand trends [indiscernible] the European million the brand quarter. of specialty our believe of our strength are stores strong vast the forward. $X.X outdoors. foreign in fourth and this We in network year the to brand European of highlights this headwinds desire lack active for With lowered and our all microprocessor consumer moving for remain the with the relationship exchange
experienced reflected the markets distributor American our global Korea, and increase a in international the Japan specifically market. healthier in the in channel a in is products market, than Our increase Overall, mountain XX% China, two North footwear these fourth and quarter. XX% much we in international retail
inventory was to just offset the with In accounts to in trends buys their larger the key open fact, America major initiatives I destocking discussed. reduced our dramatically North positive
North our key accounts, not we categories products our through. geared for extreme consumer. believe forward led balanced a with the to sell the conversations to activity from continued demand specific work issue, discretionary not Black with be inventory. this ensure indexing We inventory. in continue key of Diamond experienced issue our other larger pull of on a portfolio globally, large based a to to stems Unlike Based over strong retailers XXXX American an due there accounts XXXX challenge as towards pandemic continues to The other show and the
the slowing, this excess retail open With until to is at and delay the through sold level. inventory demand buy’s overall curve
and while through million number given trends this the of quarter increased the up in with Within than the sales incur order demand to This our We poles, our every demand, freighting $X in sell and end of XXXX, often anticipated specialty down air chase the we in costs estimate back the globally. however, chasing higher XX% since to to demand we strong with levels, we channel, accounts, To demand in service accounts with that the associated half ability our trekking the second gloves higher quarter continued come headlamps, has the quarter needed at product. meet apparel. year. second team's
As to plus we ability confident we XXXX, start in XX% XXXX. do than with time being on in fulfillment were deliver feel business easier and we to our
forward, accelerator regions. brands. Looking and for across and President Black channels accelerating will as expansion growth marquee of about recent from joins of announcement XX BD. brand with attractive a a the the by He categories, capitalizing be of various excited leading the profitability Fiske lifting portfolio are He responsible Neil brands new opportunities we as on Diamond the
Brands. is avid brands, driving on XX brands, L extensive active He Neil transformational experienced Fiske having outdoorsman in brings As operational an board. and led welcome Gap, at and experience and categories, Bauer, in outdoor, the almost experience including and years, performance. improving an Please the marquee Dakine mountaineer a Billabong he Eddie has for and change innovation International, apparel CEO building deep Glove, and Body
and seek introductions, partners operations Our touch market we brand and identifying profitability. consumers, supply our accelerate and are we activating activities increasing activities. we be points number go approach will the targeted to for well our positioned demand segment's chain within that our XXXX our to inventory continuous scaling normalizes that as retail our we new a disciplined to and believe anticipate the elevate brand Through markets. and focus gains will improvement market supply Outdoor within our in the awareness with commitment for continue chain We improve continued product the to growth our to in and and business share of and continuing
Moving to Precision Sports.
be quarter Our drove deliveries record growth of positioning with another with record to niche nimble sales and in product another We quarter. brand ability resulted XX%.
only by brands component brand, segment this OEM have we these and and business by continue Barnes, two do fan in we across supporting the Our geography. stems ability strong globe, vertical brands diversification executing Sierra have by of in both Not but to and businesses. relationships the ammunition, have super from
brass our prioritization centerfire and Our back Demand limited deliver domestically product, and the for which this rifle required our the of continue of by create XX% cases to OEM growth to ammunition channels. order our was wholesale product sales hunt by remains only high, through availability driven and partners, for broader orders our load internationally. both
our both Barnes, and XX to for in continued Sierra exceed loading rounds. ammo, production demand million and bullets of we Barnes Sierra of XXX ending the XXX both at capacity ammo an targets million supply increased at at bullets As of loading million year and rate and capacity
the to anticipate to source on pistol capacity and ammo, rifle between to we do for this rifle loads. from of mix will XXXX. revolver be driver calibers. product use The as the and components, our we stated But expect mix will centerfire on and As also ability in variance focus cartridges of this larger brass any it XXXX, the mainly, OEMs, in key we previously, strategy less calibers reloaders but will look various
fan It things the worldwide. opportunities. unique various to broader and product our All brands share, own. equal, ammunition that our enthusiast consumers and and lump market prices, to demand super being stems to This precision growth into slows limit We our inaccurate or chase will our we geographies our premium when two our growing is brands channels brand believe given across demand XXXX. specialty us supply it channels from we continue market chain opportunities in when channel by allows shift various is and other quickly leading one our the diverse positioning
the of about mid-January, Barnes At I the mean, we are be Show upcoming action line out we confident just product product feeling will lever launching launches. come for Pioneer which in SHOT is rifles. brand, our
in a key continue expect we is Response we our in product share We similar market to with with the XXXX. distributor the relationship dealers from are and will with we positive receiving Sierra steal will combined follow partners, believe XXXX.
to are and outside opportunities primarily continuing Australia of in the South Europe, We domestic market Africa. also see
the sales Black professionalized our our in To we -- Diamond going our too into lag fourth the fulfillment in continues Now of store Adventure. half velocity. quarter we larger the third inventory were on center. our into quarter, market experienced much structure, organizational enhanced sitting Like our distributors systems, worldwide supply have team sales key Adventure persisted to these headwinds, to force fulfillment business, products improved our the on new support to demand. challenges vehicle second process, XXXX, via combat our impacting of expansion, and go The
product around We distribution and have reallocated new that systems. most matter the introduction, expenses areas to
brands to us taken Canada and U.S. Canadian over control in also these from have in for and Rhino-Rack, these We distribution markets. important further allowing the MAXTRAX
in additional more create couple with segment to be lived. factors believe We agencies past Ultimately, retailers. will negatively the of sales points short onboarding Adventure quarters our impacting we the of also combination are touch our
in unchanged, industry SEMA our these growth long that brands witnessed trends Our by at premise remains strengthened for we overall November. term
or We utility trend shift and CUVs, and trend making continue outdoorism the more our global perfectly side side both SUVs, towards vehicle which automobile to vehicles, global fashion fits with MAXTRAX. overlanding products by see trucks, at task with Rhino-Rack combined
strategy process as basis outdoor the brands these within age still activating accelerate as growth as expansions, of is more of playbook, product are the of Adventure introductions this in we sales meaningful this young playbook our segment forms and follows. reaccelerate relatively the portfolio, specialty into our channel strategy our including our accounts. Given in and innovate Activating and both well to new
will adventureism retailers key mainstream the in First, overlanding overlanding is focus. stores seek flagship leading launch to market adventure we a the own beginning Retailer of expansion as globally. within category just as
rapidly to as we sportsman of seek moving strategic to an create products, are We initiatives warrior build overlanding and our weekend consumers. ecosystem
expect be truck accessories, duffel cases, racks, bike systems. well recovery introducing as as bags We bed kayak and updated awnings new expanded to including boxes, systems ski and and rooftop and storage luggage temps,
and efforts, teams augmenting to leveraging focused market vendor to engineering Second, through portfolio. product more relationships efforts, supply sourcing the increasing within introduction key and we expect improve our chain our our Clarus new -- market our speed
to augmenting the and to touch direct-to-consumer points activation. of brand an of the marketing direct performance selling we out systems, providing and the improved approach through dealer market Third, U.S. our sales building setups presence our community expect agencies, and improved fan operation of super onboarding support specialty unlock through more service additional
we to expect expansion addressable Europe, And Middle other increase attractive develop markets. total we our the strategy, we improve Korea, markets will like finally, our as which U.S. East believe Japan, and
are to positioning brands build overlanding as we that outdoor globally. continues confident adventure are for momentum We growing the through
target, market in look challenging As that believe left growth to a have portfolio significant we with XXXX, super strong ahead of fan even share environments. brands we profiles to have we
strategy. to backcountry shareholder skiing, speak in the term and the super we do decade our running, megatrends we not that Climbing, is long anticipate brand overlanding are fan we changing of the is This next hunting, hiking, component shooting important competitive value believe adventuring it attributes for strategy, for key trail creation plus. one so our most
the Mike. Now, to Mike. over call I'll Thanks turn
