The selling, general and administrative (SG&A) expenses totaled $71.2 million in the first quarter of 2018 as compared with $69.9 million in the comparable period of the 2017. SG&A in the first quarter of fiscal 2018 included $1.0 million of unanticipated costs. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter of fiscal 2018 totaled $19.9 million, as compared to $25.2 million in the comparable period of the prior year. Adjusted EBITDA totaled $19.9 million as compared to $26.1 million in the comparable period of the prior year.
"We are pleased to report a solid start to fiscal 2018 with both our top and bottom line results surpassing guidance, reflecting solid growth in our core brands driven by the earlier shipment of Spring merchandise and strong gross margin expansion. Our razor sharp focus on maximising the potential of our core global brands by delivering a continuous flow of new innovative products while maintaining tight inventory discipline continued to serve us well in a difficult US retail environment, with particular strength in Golf Lifestyle Apparel and Nike Swim. During the quarter, we also continued to make progress on our speed-to-market initiatives, which position us to bring new innovation to store faster at increasing margins and replenish the most sought after products in season," said Oscar Feldenkreis, chief executive officer and president. (RR)
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