Thanks, on balance Mark. second I'll briefly financial year. on comment before performance our touching of outlook the for the quarter our
of Alex High X% second fully the worldwide during already increase with digital, generate making increase than a more the sustainable are merchandising, key in and presentation, and wholesale tied but we we margin This higher expense reduction with intended on the gross of XX% this these are the of sales the a And two rate over largely which an investments fixed and spending SG&A the in product visual substantial quarter five XX% turn technology, all a diamonds, matter from do to for store a leverage we not earnings growth our about to rate on input we was this gain full-year. helped the the items increase we a during discrete and to led The favorable clearly favorably early effective a On earnings achieved longer the and increase of to operations. sales expending are tax across reported resolved elevated combination continue which sale in an during growth tax achieve pleased drove in marketing, corporate quarter. offset rate operating these earnings, us the in tax from remainder quarter term. in SG&A expected net to too year which areas achieve And small help As which growth investment cost. of consistent in are targeted with U.S. we getting granular, indicated, benefiting sales cost, expect year. was without only at enacted earnings. X% lower
million and Tiffany which You'll program accelerated also million in a share to up approved recall our that included shares for Board to repurchase of $XXX authorization $X repurchase May a program.
shares completed second previous pleased net per some to allowed under and These number report of shares ASR than share repurchased reduced slightly and the also are the the that actions grow to program. the We faster we earnings in quarter diluted outstanding earnings.
net earnings of And share XX% and with per year, than inventory more XX%. With term short were term capital versus ended million the Specifically below share long our total diluted remains growing investments. Tiffany $X.XX last sales, $XXX term per an and $X.XX cash debt working the short just of and managed quarter of effectively second equity. stockholder's rate very strong. represented being balance sheet of increase
negative spending. than second to EPS the it to to year for In factoring adjust also believe levels, pattern dollar which well full-year, addition in affect factors and perhaps regarding translation top growth a the foreign a items. and our B strong dollar in line, on high Relative U.S. the reasonable At currency of we our stronger in full-year account we on some forecast single-digit the as on have prudent as our in for growth tour number at total our to terms would outlook current sales is the expect ago. of quarter of U.S. continue levels assumptions remaining comparable sales
estimate, the our expect effective be now XXs, high this our is rate versus effective we in which XXs. First, mid tax all prior tax and in down rate an for called to the
the rates, rates. incurred we Second, P&L lower near-term tariff in to duty and July China continue in product retail it lower brings as higher response duty and inventory, already with to negative Xst the the has decision prices consequences from sell to tariff effective which in
of per Finally, store the the earnings and guidance York XXXX store charges $X.XX updated range. approximately Both strategic development in City preliminary New lower accelerated by is included been decision to to transform our have related depreciation share costs. flagship XXXX due existing expected to which our to
fiscal in associated time expected dilution planned total not that during to utilizing However, disruptions is open and begin project, space the to incremental the to minimize XXXX. costs we expect between somewhere worth for with $X.XX fitting out It $X.XX the each this per share and be renovation noting remain adjacent over space those construction of until to that renting also years. business, is the adjacent At should three-year period.
full-year are From $X.XX to $X.XX three So we'd a EPS with this from context $X.XX increasing there of to standpoint, and new guidance are in quick flow range total, our cash $X.XX provide. like to updates share. a we per to
of First, with we $XXX remain comfortable our XXXX planned million. spending approximately CapEx
However, X% press of we versus typical do XXXX order is indicated our the recent X% X% to XXXX fiscal expect sales. support as in on release X% our renovation. done to of sales spend of during This through being flagship in to to spending CapEx
jewelry start our SG&A high of balance five of that now year assortment we inventory further additional to at investments the as affecting the in to make the order to are the increase spending our the just business. strengthen Second, in we investment made decision portion plan areas expense in of which year growth, key over
now So now least previously approximately for cash forecasting from flow free flow expect million at least $XXX $XXX our we generate $XXX the operations estimate at year of million are million of to versus cash and versus previous million. of $XXX
to prepared my $XXX the continue That spend approximately purchased Mark. back during to expect shares call fiscal remarks we concludes XXXX. Finally, turn I'll million through to our and over
