from at comps. quarter decreased sales stores basis plus comparable Fourth by our X.X%, quarter point third a represents morning, everyone. Thanks, Cabby. this Good improvement XXX
store lower by sales of comparable an average was which levels partially were by traffic, offset store impacted ticket increase in Our value.
reasons. by decreased comparable due our year, same these X.X% to sales the store For
gross margin XX.X%, quarter basis fourth was Our plus point XXXX. represented the which during increase the XX a fourth of compared quarter to rate
As we outlined price to helped which decreased our XXXX. costs have been recent rates quarters, the inventory offered we in have points, lower international secure and our able freight at have half products successfully second in of in assortment drive lower
XXX second passed to we inventory XXXX and higher of We XXXX. our increases year the to cost rates to full first the basis XXXX by in the as inventory move rate gross of decreased increase are decreased decrease on the and to early average be The inflationary in us freight For into margin points throughout attributed our can costs we believe international suppliers. by in The XX.X%. positioned XXXX, in year. expansion cost margin see into due half the of in costs peaked to as the margin the half average continued increase XXXX
Panama events have international However, Asia. and on recent the freight from Canal Suez those rates as driven the Canal such in particularly inbound higher, containers
a strategies may period anticipate XXXX. If If margin Further, and back this than are in may and to margin lower contraction a of an to our carry pursuing sales sales, grow gross will assortment. which expansion products, we LVT impact shelf we margin shelf tile our time, gross of see the We LVT of rates. profile outperform we continues achieve trend we goals back gross we it for extended respect with
However, comfortable on our improve it's fixed an are profit expenses. leverage increase we exchange gross SG&A this should as making dollars and
$XXX,XXX to $XXX,XXX lower were consulting million in These $XX.X were shipping IT variable customer a of partially offset variances XXXX. a in expenses $XXX,XXX $XXX,XXX $XXX,XXX online decrease enhancements a in occupancy our compensation, favorable decrease expense expenses SG&A than $XXX,XXX is in-store decrease SG&A transportation due by and quarter experiences. and decrease expenses a increase to Fourth related in fourth in quarter decrease our costs, and expenses. of in a The
Additionally, $XXX,XXX quarter fourth compared expenses the increased XXXX. benefits by when of to
occupancy decreased in decrease $X.X This a driven For partially offset in a to expenses to in or increase XXXX. decrease was enhancements by experiences. from offset compensation partially were of million million lower related expenses costs online of in-store and related our IT the million were by factors rent X% million in higher and that SG&A to expenses decrease depreciation by due million $X.X transportation shipping customer a $X.X These the variable sales expenses. decrease a largely $X.X levels in by $X.X year, and
pleased levels down marketing Additionally, this reduced of to the XXXX. flow $XX last debt operating capital $XXX,XXX made fund year, us million. work generate million our over expenses and XXXX. of $XX.X increased inventory over progress our balance cash the used We $XX.X which We in to helped by million in by expenditures were cash with
million. no had we balance year, the we of a $X.X debt end the cash of carried of As outstanding and
the Looking outlook for ahead, business. on I share our Cab's optimism
and With to that, I happy Cabby are any take questions.
