The term "last quarter" refers to the final three months of a fiscal or calendar year. In business, this period is crucial for evaluating performance, making strategic decisions, and preparing for the upcoming year. Companies often analyze their financial results during this time to assess profitability and growth. In a calendar year, the last quarter includes the months of October, November, and December. This period is significant for many industries, especially retail, as it encompasses major holidays like Thanksgiving and Christmas, which can greatly impact sales and consumer behavior.