good Jen morning and Thanks everyone.
positive posting Comparable of significant progress comps. the strengthened proud made both with in the quarter. and business are across AE Aerie We our sales growth third we’ve
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also Monday margin erosion stores. better SG&A Black expense year the year-over-year with and fourth brick our and Margins narrowed were sequential last in trends trends and we quarter exceeding pleased compared significantly. leverage, saw to resulting expense to We in and positive see continue declined into mortar improvement demonstrated expectations. Friday Cyber
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Excluding this a $X.XX resulting restructuring $X.XX. $XXX Adjusted from charge, adjusted of charge a reserve share $XXX against of EPS per compared million receivable. which includes to year. a $X.XX, last earnings of million of operating income reported we share year, Last discrete per
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year. quarter strategic total the Capital a as corporate $XX our year. expenditures capex $XXX and million reflecting quarter half be XX%, categories as third in spend expect million the up-trending ended million be continue cash of process million quarter range change the the of to approximately in to to and We Roughly the digital of liquidation relates business, We pools fourth store in and balance inventory projects. and $XXX $XXX balance to $XXX support totaled compared to we to strategy. omni-channel for investments expect ending in well last projects the the inventory to the million general up with
investor million $XX expenditures. past Details we returned store in dividends, in are and capital Page openings Over million of XX through $XX in the the $XX XX on million share and million to our invested and $XXX closings of XX presentation. months, buybacks
under highly lease stores have and store I We the terms have profitable years. over of previously, as fleet, a have half three noted
very the Although a point. business remain important stores our is touch customer digital rapidly, growing
include will to as We and our are looking closures This openings. the select presence and market refine sharpen store base. remodels, well as store relocations
locations, our market-based brands and We to and across how with focus that business We continually the existing optimize are a customer reviewing acquisition customer as data do our fleet our a look whole. this at views shop on making categories. customers channels, so analytics. of decisions we’re We
to experienced we data testing As we overall database priority. major With store an XX new this also of gain are asset is hired much the level team customer degree. an a a patterns, designs leader active understand greater customer a customer and data to insights, the customers, us customer a opportunity leverage knowledge. over and personalization analytics we discussed, to have to larger help million Strengthening analytics engagement higher have experience. shopping improve of Recently drive
any and looking income. ahead fourth compares sequential to guidance to higher increase on earnings The $X.XX, single per quarter based adjusted impairment This Now is or digits. excludes charges. restructuring in an and expect year margins the of quarter, reflects continued $X.XX comp net earnings mid anticipated share to we improvement last potential store share the fourth which $X.XX to of per sales
continued pleased focused the improvements our holiday we including to a we’re progress and profit Thank and you, take very will delivering we’re Just and season the across sales and now year margins, strong. sequential questions. and successful reiterate, on with business, finishing
