to quarter net Page sales million year's Thanks, materials our begin minimal the had quarter. in in morning, on in was X. adjustments related non-GAAP reported everyone. adjustments only with of million Page $XXX the P&L. on were These our Mike. We prior Net detailed COVID year. are GAAP Good X $XXX no operating adjustments and I'll first first this and income
last We So turning of results noncomp down significant and highlights of higher planned good X first had holiday meaningfully our and year profitability the to some Page transportation year Easter performance. later to quarter. sales stimulus we the the last versus the Overall, with delivered government quarter first for costs. this year, due
results, were Our stronger planned. though, than we had
shipments was customers than to lower which expected, than was higher and enabled position Our better also inventory spending our wholesale forecasted.
quarter As we've below first Mike our the meaningfully the while business. results performance, were many pointed level, the of they record benefits pre-pandemic improvements XXXX's were made out, year's across reflecting last above
points of and the our last later Page nearly tougher holiday quarter on year X. Our $XX the in our than down margin Easter last to comparison which last over year increased stimulus Retail segment. XX% International million. X% decrease for year. and adjusted in down year. in to year. XX% U.S. reflecting was We first $XXX to were half higher Gross transportation million last growth P&L is which the Sales business XX.X%, this over year's sales was was from down costs, versus ago, growth this Sales posted Wholesale a X% the due XX% XXX More were over or basis inbound versus
of than middle into vast is the year. We under majority extend of ocean our expect we be contracts, be The full higher next year will transportation volume in which costs next had well into to and elevated planned year, for the originally XXXX. they container
well still spot taken Our we the other below these but represent current transportation to pricing meaningful increase business raise costs. higher-than-expected cover are year. were what contracted paying spending to over reduce prices, steps and market We've a across last rates
retail was a by of also margin wholesale higher sales less pressured and sales. Gross mix
basis out clearing and sales late included balance channel year XXXX. the product. Our lower and lower a related expecting more be year holiday in that We're off-price sales on of arriving quarter channel wholesale than to the meaningfully the volume over off-price in fall full will
our than expenses our as year. than marketing last smaller result first we million, quarter were as Store as last was costs lower Distribution outbound of compensation a higher by were I were spending closures, lower costs $XX which, store permanent quarter. First also Adjusted and freight and XX%, about operating a on lower income the in was decline $XXX planned. year had down than was spending was said, million.
share year. per earnings earn adjusted $X.XX $X.XX line, to compared bottom the On were last
highlights cash Turning balance some our to X sheet and of and flow. Page
result the strong Receivables up inventory the remains in of our in in as Inventory liquidity. quality great were the quarter. of good. wholesale a XX%. sheet growth We balance is Our higher The substantial quarter was shape. ended very with sales
the said, A and the X% things drove as the of although few we've last quarter. up inventory majority prior at arriving were were In-transit end year. in last increase through product seasons. I than of moved late Units less As our costs from so planned, elevated, product year-over-year over up inventory. remains
we transit are Asia. of ownership X inventory earlier higher than the mentioned, to As from given Mike typical X times taking weeks
year. higher half QX chain representing in of product levels We're see digits versus or inventory given units for with increase up products inflation year-end up good balance years. the of couple our year of be over throughout over supply the to more the the demand are expecting of most XXXX. year, issues with ending projected with last cost the less high even and second XX% Our will expected inventory of be year-over-year past single myriad We the the inventory
notes in in We the This very which We liability. the in quarter in by redeemed on presented able about be balance notes early projected million, place to of additional a as are liquidity to as have been pandemic-related sheet, early to inventory reflects bring resources Long-term end and was pandemic. our hopefully demand. of these reclassification put current to $XXX early financing lower April. better days the our senior debt, wherewithal and provide has fortunate meet
didn't years, will this annual our these we million. by business interest redeeming our lower financing. Fortunately, over given resilience the notes cash By early, of X past need $XX the we costs
greater which We're million business in higher and performance-based year. performance cash largely was generate the in relate year, the of to compensation the expecting higher $XXX $XXX achieved year's flow which full the record this to the million. first payments to in than operations reflects last level in in year quarter, cash Our good quarter for last inventory used operating range the first
to return million to shareholders $XX and capital of continue of million our repurchased in shares. We first quarter. dividends We our paid the $XX
versus summarized while we've or our good our decreased business $X in ago. level, growth in Sales and X, in Page first a slightly performance lower year On high Retail, the consolidated X% had sales million by segment we International. At were quarter. Wholesale both a
to expenses all attributable and million of record costs. declined margin lower compensation virtually $XX in lower by were the versus Corporate due level, operating to Our transportation is increase million last over which $XX expenses. performance-based year's consulting
on our Turning quarter I a to first our as direct made business ago, its response detail In the not retail payments X. A last additional some part retail comp segment our the on government of and sales payments in mentioned, total and record Page business were down, this X%. performance repeated Retail, to American by declined consumers pandemic. These our year year. benefited to of level year were as
lower last we stores were portfolio and to higher opportunity on over sales more because Additionally, closed profitable low-margin better store focus year, locations. our XXX
is XXXX, versus quarter. later fell holiday likely shifting it March in and XXXX Finally, into out in Easter our late second business, important an sales of the volume
inflation higher and Profitability the transportation year. our factors, confidence. channels, factors result direct-to-consumer the in a retail in some other that the both consumer costs quarter, surge eCommerce, these first than was lower last weighed and stores and retail also traffic lower affected I've We by on likely of the notably lower in most was sales mentioned. business As our believe in
the sales, slower comps Wholesale, X% quarter so full growth second forecast. in was we far In low for has our and we planning year. above business which expected, April been are single-digit for in While growth retail had in than
including quarter. customer by a and anticipated exclusive our planned to some us residual in customer transportation better to good $XX said, our including across affected been of base costs, I off-price the occur and in air freight. first on-hand inventory extent, allowing in wholesale million the quarter, was had the was about higher with channel earlier, sales, had position on spending saw a demand in more higher to ship These wholesale than second growth brands. lesser our in came we some As quarter. Profitability total, mix We sales previously
strong We closed had Canada, and our our year partner. Canada, Mexico were in and in in with all Profitability International largely sales in We rebounded In Wholesale right sales affecting stores strongly parts and from Brazilian this stores. business. points still strong ago, XX a high-margin Canadian of costs, Margins Canada now. in very higher we international particularly recovery saw International. had in A down growth international strong business business, our channel. was sales in about in growth quarter in which Wholesale transportation our benefited basis by the are offset business, our store strong in higher
On businesses last XXXX. first while we've year, the the pandemic before profitability generating each profitability the next than summarized was our our the of that page, was in quarter in lower
you was see, As back than each can more segments in profitable meaningfully XXXX. quarter of in first business our this year's
Mike effective choices, among remarks, through approach transportation of promotion areas. and made costs to improvements higher-quality helping changes the inflation having inventories, These the a cycle the higher-margin product challenges offerings other has life and led and in As store manage product business. more longer to across fewer in a current are portfolio leaner a us and stronger to pricing focusing to business, with we've his operating mentioned our including
around XX, both special strength one channels. our of These events. our staples holidays and is assortments, our wholesale Page direct at On and products are of product traditional in
of different and wholesale our partners. with throughout deepen to and year Fourth of eager Day, families which July. and These and frequency oriented the help drives pandemic, around side Easter The our events holidays whether they our visit our that of first other stores, drive hopefully products loyalty Valentine's us and we're website brand relationships traffic. to nature are these distinct to the consumers, on celebrate, it's Now the the to baby's are products or
its in in products sold Donuts. capsule Dunkin' the only This sleep search On days a themes earlier largely since of week, next of Dunkin' page, has Dunkin', limited collaboration matter out this Everyone especially a of parents caffeine. knows introduction. deprived launched with we
Our would friends expand stop parenting fond at runs Carter's. on Dunkin' and America on Dunkin', the of saying we that say are that runs to
Moving XX. Page day they're told on to day, a active times nearly millennials incredibly their XXX check social phones media. I'm and every
to social like media and rapidly engagement, newer continue TikTok. platforms growing brands building our media Our social and out with lead we're in capabilities
On Page XX.
social to important addition media, a In transact fun it's efficient our consumers leading website. years offer to talked and over e-commerce lot We've digitally. the about to easy, ways
popular has As Mike mobile our said, quickly sales. and with our online customers our represents now become app very a meaningful of proportion
card Our these very important of proven Carter's credit with and engage are Both loyalty customers. have we elements how also programs our programs of successful.
sales. credit and the card our programs vast in Our of loyalty majority are used retail
imagery. On some Planet Page Little we XX, have great
meaningful to the and we're expect We sizes, swimwear as with stores assortment Kohl's expanded in We of Little U.S. wholesale expanding Planet to to Target, Buy retail brand is such The and and product shoes. points recently new distribution, adding year. toddler see our Little this including Amazon, in Planet XXX Canada Buy growth categories new and Baby.
along Page XX, to can to to is pass with creating future families we Day our addition young our important social communicating On of our generations. Earth a marked last new consumer-facing which launch one and world, the sustainable future platform. to children raise Theme one the governance element priorities ESG commitment in raising week, and we
messaging also fabrics in platforms. a recyclable and in place our and hangtags to certified games emphasize materials redesigned messaging will These our of prominent product across products. our our in-store including sustainability have have the organic been various media social Our initiatives use
find of they children's our are On in brand North and we be the a customers. of terrific few largest our XX, for largest is You floor photo the of One customers. our we Page wholesale babies. Walmart, of of easily at essentials some several retailers have pages, at The young in brand Target among to highly next to our couple must-have the replenishment consumers have can wholesale to high-margin photos fixtures. is apparel and business a of messaging Target, the and Kohl's brand On where America, and productive component Target addition related happen imagery Just Amazon the wall wall
offerings swim our continue We addition product the age brands target with to Four are our Target. sleepwear. of expand of to older to and sold
to addition Target also One Just Skip OshKosh, Planet. carries and Hop In Little You,
brand of Page of earlier DNA. branding exclusively and at spring XX, Child targeting July. new product at Walmart through holiday-oriented existing an On products, events Child Child to this Mine expertise our we've expansion and White grow Red categories. launched in We're also at our included I planning introductions Carter's And Fourth Mine, in the of available out & Americana Blue Walmart some page, Collection, the events our event expand continues of we've with fall. new and we mentioned roll bottom This at Walmart offerings branding of strongly XXXX. the to new this Mine for of which named more will emphasizes
of Joys continue make some our Amazon. Simple essential products on brand Amazon. apparel beautiful photo brand the Joys best-selling Consumers Simple on Page is from to a summer XX children's
under some In designed the later to we're year. addition playwear bath Simple X, bags new X launching in products also sizes and playtime of to brand the expanded assortment this planning Joys diaper Skip on and Hop
largest the are breadth online the for growth. Page Kohl's are among presentation will been sales product good effective In in of most brand. has Carter's and Carter's Kohl's and a baby QX, in-store On is at at customer planning Kohl's The assortment our core we our and Kohl's channel. partner wholesale carries. refresh branding the brand wholesale XX, the flagship in great which the Carter's depth it assortment, the and of
department to Carter's to babies Brazil. Carter's partner, Paulo. Brazil Turning Brazil. in build-out XXX stores over is high the on next XX Today, forward Shown market shop-in-shops here spoken new We've nearly this to stores branded newest presence Brazilia recent the Riachuelo Brazil with across opportunity Riachuelo X.X a million looking Riachuelo. with large stores opened market. page. calls Sao each in in add within branded continued year. and and our Carter's stores about growing our are We're The has the attractive of born
markets, but Carter's This brand new into store shown has America, new strong globally in in a expand to a continue we here XX, market smaller Uruguay. brand South Page Carter's this country. the On is in as awareness
has branded the addition stores channel managing opened in here partner Our to in X now eCommerce market. Carter's this
we first continued activity. about first lower Relative into in for of to expected we've transportation. previous have forecasting Turning adjusted in price from now per to million $XXX second of just sales of wholesale between $XXX to million, Net We're on lower move realization, benefit forecasting repurchase start to and sales growth end diluted adjusted increased X%. We're million expense outlook, share given Earnings projected our for up some under with and the to quarter. is freight share by of costs and for reflect X%, $XX the and of We're sales will range interest to to X% half $X.XX lower million about demand the which slower quarter. to operating improvement would and outlook our $X.XX. $XXX quarter represent or XX. the EPS planned $XX our quarter Page guidance, our previous the are be income second second million beginning to about previously expecting
what than are if earnings in half somewhat First not we better previously. had planned line,
earnings. as we call, full the XX, we're and year on in both on last our year, another told expecting For Page sales good you
is forecast performance. build will record last Our on that we year's
successful them: input the in and slowdown to Asia. committed potential disruption have business demonstrated resilience of across the many now. diluted operating costs reiterating and But are and XX%. the of X% and the of X% costs which projected will and factories employees. transportation, here. the business, our ports of X%, resurgence couple are of of we the some a important are and growth and contribute of Across risk sales strength in including last to to this We're several of adjusted performance the believe growth of There's more are we shortage year EPS ones guidance. We've challenges of inflation no teams delivering product of significant spoken right There marketplace COVID, listed forecasting many economy our possible net X% growth factors today, adjusted of to creativity Carter's, to very So the income XXXX. of XX% in to including our years our full
questions. with remarks, take ready we're your these And to