Overview
- Global same-store sales rose 1% in the fiscal fourth quarter, the first increase in nearly two years, with U.S. comps flat for the quarter but positive in September.
- Quarterly revenue reached about $9.6 billion, up roughly 5% year over year and ahead of estimates, while adjusted earnings of $0.52 missed expectations.
- GAAP net income fell to approximately $133.1 million, or $0.12 per share, reflecting large one-time items tied to the overhaul.
- The restructuring closed 627 stores and eliminated roughly 900 non‑retail roles, as ongoing investments in staffing, technology, and remodels weighed on margins.
- International markets led the improvement with comps up 3%; in China, comps rose 2% on 9% higher traffic as the company explores strategic options for the business valued by the CEO at more than $10 billion.