Net income nearly doubled to $24,710,000 from $12,523,000 in the first quarter as revenues increased 5% to $295,949,000 from $283,148,000, including a 5% gain at wholesale, +8.7% retail comps, and 17% higher e-commerce sales, but missing $6 million in retail sales from store closings. Gross margin contracted 290 basis points to 46.5% including 140 b.p. from currency, 40 b.p. from the relocation of its Americas DC to Dayton, OH, and the rest from freight and other costs. SG&A spending decreased by $8.9 million, or 480 b.p. as a percent of sales. The bottom line also benefitted from the elimination of ... Log in to view full article.