Net income fell 10% to €47.9 million ($51.7 million) from €53.3 million in the final quarter on sales that inched down 1% to €772.4 million ($833.2 million) from €783.7 million. Gross margin improved 90 basis points to 44.7% as Amer avoided discounting despite the promotional environment caused by outerwear inventory overhang from last year. The bottom line was hit by €8.2 million pre-tax in restructuring related charges. Americas’ sales were flat at €314.5 million, EMEA declined 3% to €345.3 million and Asia Pacific was off 1% to €112.6 million.

Many deliveries were pulled forward this year, which was just one factor ... Log in to view full article.