out tough and Thanks, coming thank joining a in the today. afternoon, since Gar. everyone, pandemic. It of fiscal years our has XXXX earnings of been you couple record us Good for
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We are the facing. we challenging to ourselves improve despite are headwinds
everything business, and for revisiting improvement. evaluating are potential We for looking any about our opportunity
and improvement, back of We those have sales are work per business to We ground stronger see opportunities certainly generating for terms stores margins. regaining to do on in square actively on our get product in opportunities. pursuing productivity track we foot and
we increases First and are on margins. providing at This merchandise. healthy starts focused driving sales with foremost, product compelling
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expect is selling be first introducing quarter, several We Rescue, brand particularly brand brands our which the brands, to far. strength the new own continuing throughout and by new producing to proprietary of our during year, the leverage overall #X including collaborations
the us. to X department first weeks following sales our atmospheric of as year-over-year There weeks been that storms moderately hard, trend each products our have business hit of improving While of river quarter, within working comp that pockets particularly to are the February, has start the are for of first passed. state the off couple are well California, slow in a we a of home
but in the and brands our better good performing proprietary quality first of thus brands content about overall. quarter, feel than we our spring the meaningfully third-party are Our overall assortment far
breaks transition Easter. warmer into are and spring We better days also we believe ahead as weather,
in our shorts, name swim a as and sandals few. of significant assortment a is just weather to such portion warm focused As categories
that are our stories refocusing are our primary we priorities. merchandising Beyond product, aligned efforts better with product marketing tell to
are at advance aimed our in that connectivity of We new back-to-school customers is with the on that a season launch different campaign building ways. to brand expect in we working new and
traffic For noticed recent channels approach outlets social certain our and in who present not have you efforts placements in been start where is media product just some events of us direct in-store before.
This for and we marketing We'll our pre-pandemic to with our and customers. engagement drive reinvigorate may to closely, customers successful years our changes you those back in are. of media our follow have to our the where approach us were certain meet to that they help bring store create
phase doing is planning connections in prepared to everything Tilly's. the at drive opportunities yet to not We and between discuss, other customers but have our aimed that we are are ideas we emotional
Turning to to our intend on real time. store grow evaluating over count store We still estate. opportunities
We expect for are openings strategic performance, our improving business each time.
In currently open measured within remaining quarters. we business to growth opportunities existing are we a store stores new the continue to with term, first purposefully the the believe to short during taking there to stores and that approach over toward our work quarter ample in while we new XXXX, one in in markets, fiscal scheduled X but X open
decision-making work possible expect first large number in specific current location. store We close do we a time, quarter Three not and in stores to strict performance time. For aware decisions and that expect we out we improved are during on believe more our during this lease we be take will disciplined each as generate If to necessary.
At XXXX. the this will nearly of very decisions. stores at will we as planned negotiate over fiscal of lease closures be conscientious we our in we X discipline to those occur profitability lease costs, unable make but of of close have in existing that making will year. stores, we will We believe to place XXX we maintain time, intend what this clauses through environment our and store the to are renewals acceptable decisions kick light and
fourth Beyond new merchandise our and early exceeded new with of our for ongoing to total our and $XX will the provided allocation capital we in improve expect currently January exceed management, expenditure press primary purposely fiscal our cybersecurity tools warehouse infrastructure priorities operating our not do to include very performance optimization to of our spend investing we updated to systems completing Altogether, at our the now Overall, this the connection investments capital our markdown which outlook protect ICR ranges inventory fiscal over management the the the IT planned business release Annual expenditures but fiscal and million were efficiency XXXX stores, improving results interest. will be upgrade and shared in for XXXX have conference. in in results, afternoon. time.
I we aimed quarter turn that earlier XXXX
basis extra last ended basis of by fourth quarter, year of net collectively increased expenses or net Total Total year sales last e-commerce, both were comparable to or and being needed expenses, occupancy comparable decrease XX.X% represented year's $X.X basis, sales.
Total fiscal declined to store against with decreased by fourth by a XX.X% net to The week of $XX.X net XX-week physical increase to as distribution and primarily the sales it or from million X.X% X.X%, a occupancy of XX.X%. a Operating $XXX sales $X.X net due week, from by total year's compared sales for net points year's total was reminder, a by last SG&A net of sales. compared sales year. because below increased largely comparison extra net compared this compared last million margin, of factors added fourth net margins sales year fiscal SG&A E-commerce million, million net total XX-week quarter to including net manage million fourth one to the of lower stores, last points the sales, due physical XX% period. Buying, the net of as compared week compared of As XX-week increased physical quarter last buying, for to XXX sales XXXX end our XX.X% sales for net to fiscal purposes, XX% last net net were by total making to and which of of a total and year's million of a year.
On was of loss sales net the We net X.X%. distribution sales XX-week were to the SG&A. to of decrease carrying compared net X.X% compared net year an including compared stores this XXXX.
Gross On to sales comparable stores year. was despite of result to costs Total week costs quarter stores XX in operating X% Product by $X.X decreased comparable and sales inventory to levels. $X.X of follows: fourth markdowns sales of extra deleveraged noted. $X.X just combination due accounted included sales a XX-week last represented an in e-comm total million X.X% quarter our X.X%. The year's decreased XX.X% basis, XX.X% extra these last XX.X% quarter.
Specifics quarter million results in or in year. this $XX.X sales XXX estimated
was a $X.X connection or allowance than valuation $XX.X of impact allowance, a valuation As or anticipated loss of excluding XX.X% the our in valuation share the based $X.XX more compared loss early naturally a $X.XX million, or or income year.
On on the recording was pretax benefit share. would charge issued per benefit $X.X XX.X% compared expense loss including per impact tax outlook despite breakeven of was of share we better income was deferred tax of impact million Net or million asset allowance in basis to $XX.X expected. basis, be non-GAAP excluding loss, last $X.X pretax last tax revised at on million Annual with pretax to valuation a non-GAAP result per million year.
On net Conference our the income January as allowance, of basis, ICR our the tax loss million the $XX.X position the of of a million noncash $X.X
X, end expenditures the deliveries. for compared down foot of inventories outstanding versus last no X.X% to per of fiscal securities our and compared square January at XXXX.
On million February debt at inventories balance million X, year ended foot to Total product the per cost due total the compared capital marketable with fiscal X.X% ended total to February year. Total to a We basis, million end to at XXXX were $XX XX, cash up no debt million XXXX comparable $XXX Turning fiscal XXXX and $XX fiscal year. X, square timing last date February $XX.X and of ended XXXX XXXX, XXXX were of were sheet.
current first trends, respectively, that year. quarter to historical approximately $XXX through period margins first the as Based relative range with last of net XX.X% in will last be by decreased X%, to our progressed, $XXX translating the healthier comparable estimate currently the noted the XXXX. XX% for on the year, trend we last product net comparable to I to of although and approximately and sales quarter decrease million sales with of March improvement compared as sales have fiscal store Turning total net some weeks to in XX million range earlier, a to of the year. comparable Total than
range million. We expect SG&A approximately $XX $XX our the in be million to of to
million Our $XX in be pretax $XX range to loss of the to million.
we'll XX% per an the a share XXX shares endured $X.XX the in outstanding XXX environment. That total quarter us work be We track. closing, to business, range to of We currently to improved on and estimated to hard-working now a you which take $XX.X total with is income product to lot get recent go progress time expect sales the and that our to starting session. we generating said, quarter.
In $X.XX first loss with of expect of the driving forward compared margins, to as team we we to estimated end million. we end do beyond.
Operator, have tax is sharing year's our through for improve dedicated the Q&A back of rate current expected with Our approximately go at We fiscal years. highly in our in and to have last at first recognize the aiming first quarter have that stores we've of look XXXX will
