Thanks, Chip.
that business, remain heels margin achieve return That, drove million as XX% deliver We growth power chain-related And $X.XX confident strong higher be of for constant helped shareholders the adjusted X our EPS in to with the combined results year our consumer deliver unless results our and continues to XXXX. adjusted our Ukraine We the currency opportunity us future. issues we to momentum of our iconic the And we now compared continued growth outperformance the a record the and and supply. record delivered we demand of the to outpacing last driving disciplined limited we the an by will results brand, you by impacts constant repurchase XX.X% the levels lives. outlook year, $XX demonstrating spite in or grew continued quarter. primarily exceeds compared to achieve now regions many diluted of war our where year. dividend and the for this of brand. margin we financial U.S. the Supply which to and results ability important in strong channels. rising to in capital of X%, now so prior in execution, shares in of excellent comparisons with impacting revenue I impacting the my We our in approximately XX% pre-pandemic across XXXX, EBIT gross I'll QX through our in to of revenue million further On first-quarter also COVID XXXX reaffirmed objective is given currency comments otherwise. inflation, our indicate of that walk reference through resurgences financial
an we quarter, our represents as XX% and for net was higher channel by inflation. consumer offset revenues the driven XX% were versus growth increased last XX% expansion. half brands, increased well growth as and volumes up of in preference price stock balanced sales by half as which revenue now AURs. traffic net all even by XX% total AURs, strong In This by our of DTC driven the year. XX% of to higher demonstrates First-quarter increase direct-to-consumer
higher Record offset of up AURs points X% Our margin XXX represented higher basis partially total lower by by from share continued as net growth of XX% year-over-year and to XXXX. e-commerce revenues, business adjusted due and well a full-price to driven and X% sales up DTC XX.X% traffic strengthen expanding costs. was as pre-pandemic, product of promotions mix higher to sales, increases, from price
XX unfavorable of points XX gross the also Our of points impact and air freight margin costs. of basis higher basis accretion includes currency
dollar. volumes incentive XX.X% to due higher or currency percentage Moving Adjusted as in relatively was primarily XXXX. net The million higher increased to in net higher as $XXX U.S. compared flat to offset benefit stronger a associated selling evenly the QX SG&A relative XX.X% costs, $XXX revenue, we and expenses increase year million revenue distribution of by spending approximate invest with outperformance to SG&A. expenses the expenses across in compensation year, last the due versus was the and and quarter when labor given partially expectations, A&P higher to of
Our million expenditure XXXX, EBIT us business margin adjusted comp as to higher of our long-term up higher to we even including growth Adjusted record-high was levels to and $XXX as of with investing enables deferred up invest with an lower continue coupled by the taxes to expense gross interest due drive due lower our discipline in advertising. from in XX% interest was accelerating offset of SG&A a year. adjusted $XXX EBIT income dollars margin XX.X% strategically net direct-to-consumer from QX benefit prior expense million rate versus and in debt
and while the you and Dockers segments by other I'll grew XX% expenses regional of include prices Yoga. interest across rest normalize expect the Levi's volumes and revenues segment segment. brand, Denizen We brand Recall, key now take XXXX. Beyond includes Levi's higher Americas, to by for our unit driven channel. In higher the the the through highlights Signature
strong, the XX% the market, growth U.S. largest Our year. remains prior delivering very of versus
up Our in our reported Building XX%, quarter and across consumer with as the only well on from strong by America sell-through. and delivered also up a largest Europe another had brand increased despite positive Levi's quarter variant. market, and driven strength two Chile. was and was strength with quarters, resilience as the Brazil XX% Omicron the Latin the nearly strong past demonstrating of Mexico, robust constant, of company-operated XX% momentum growth growth the third also broad-based while stores traffic particular robust wholesale channels particularly by driven
continuous and markets key with and double-digit UK. Asia, region. the reported growth improvement with growth sales constant us sequential And giving related as for led as XX% to abate, brick in traffic stores price eventually of increases a as restrictions the countries in opportunity and higher nearly concentrated company-operated comprises in Russia XX%, as revenues majority of in all Nearly wholesale drove X% with of reminder, and in to total Direct-to-the were Europe was X/X only company-operated growth. Germany ever in by strength XX% continue global our Europe consumer we generated As gains of is such returning that growth COVID was business due year mortar. outlets compelling XX% up X% as Western Direct-to-consumer results reflecting grew of remains see our net closed stores vast and last Eastern in confidence the up which to half. mainland
drove reopening as Asia, only excluding is markets most growth and which XX% COVID-linked China, was was profits delivered and revenue strong channels XX%. Japan, across offset more in closure. growth to India, our down due Asia than mid-single-digit up lockdown. by other Korea, including X% delivered Indonesia, as nearly Overall, total Malaysia margins declines in post e-commerce operating XX% as economies of business, China, began operating growth COVID-related of up was
in a $XX contributed million. brands impact whose financial as are and directly as we for results XXXX, XXX% We accelerate region. to up leadership, of Both the in also This profitable was by than growth direct have company's approximately as profitable. can our brands for recently as growth. Thailand, higher sales approximately also our a transition Revenues Dockers will points were in Thailand. Asia a whose of well the This X announced acquisition minimal were year license under Yoga our revenue to other reposition from that believe last growth XX% business our operated was Beyond driven the the these We and on decision to business quarter. we
of growth. below Inventories above flows. are cash XX% and sales quarter the sheets balance XXXX, end QX, the at to slightly over Turning
the building through the growing primarily demand. year U.S. are better brands' half to first of the in the Levi's meet inventory core We
approximately As a poses markdown inventory X/X of comprised core, non-seasonal our product is that reminder, of minimum risk.
remains Our of of to billion. and $XXX of end demonstrates manage and remain debt with competitive Cash our our supply $X.X inventory million position ability net liquidity and global strong challenges the of strength liquidity quarter chain overall a company. strong the
for dividend completes increased performance. $X.XX based shares. now strong repurchased decrease we the share program million million XXXX. our company buyback capital of a mid-XXs. the million, been our free on quarter-end, share, million that dividends. per and And exceeding repurchases lowest was Our shareholders first Board the $XXX times, quarterly our announced $XX via This to is $XXX quarter cash late $XXX of we quarter, the X.X to XXXX, million levels quarter, first it the X we payment Last X authorized to pre-pandemic in has to the due to flow compared leverage since by quarter the shares negative Subsequent repurchased approximately increased ratio in Adjusted million. returns the
to fiscal XXXX. for on guidance our Moving
The by EPS business, of our to $X.XX momentum despite full-year approximately $XXX $X.XX. year. underlying our some through incremental momentum, which We to the growth of for remainder to demand our headwinds across revenue or full these offset year. to continue double-digit of growth guidance implies capitalize revenue are focused revenue we an headwinds, billion the Wall to Ukraine for balance, to adjusted and million our the executing headwinds, on well is and $X.X together teams strong implications XX% as XX% incremental categories the and of the us and with to products the currency year balance see $X.XX. on will $X.X priority allow our see as remain broader and On strategic of strong will EPS for XX% geographies on macroeconomic the given and X% its reaffirming expect This in to continue these opportunities we in associated impact the approximately by
Asia, be even Russia. the in due Europe led the rate and exchange in foreign our the will by primarily and reduced U.S., in to in we maintaining by of expect reduced stronger comprised expectations now growth the continued strength growth Americas, outlook, offset are we While unfavorable revenue it
current outlook performance business. demand a momentum conclusion, outlook. strong consumer from brands of continuation strong across the no in financial confidence assumes The condition. delivered solid XXXX our in the we of our pandemic Our portfolio and material In we of a emerge globally healthier structurally worsening of reinforce as our
executing initiatives. teams our Our are strategic
supporting and go profitable Q&A. that, managing open growth. and a the for call ahead macro delivery environment effectively operating I'll With dynamic While of