Net income improved by 16% to C$2.9 million ($2.3 mm) from C$2.5 million for the fiscal fourth quarter ended Mar. 28 as revenue hit C$208.8 million ($164.8 mm), up 48% from C$140.9 million in the prior year and up 34% over ’19 levels. Gross margin was flat for the quarter at 66.4%. DTC gross margin ticked down 60 b.p. to 74.9% on a C$2.4 million increase in inventory provisions, offset by favorable impact of pricing and volume driven by parkas. Wholesale gross margin took a steeper hit of 570 b.p. to 29.1%. SG&A expense was up 16% to C$111.6 million ... Log in to view full article.