Net income rocketed 787% to $98,398,000 from $11,091,000 on record Q1 revenues that were up 64% to $460,098,000 over $281,160,000 driven by DTC sales that nearly doubled. The company sold 25.9 million pairs in the quarter, up 52%, while ASP expanded almost 8% to $17.64 on lower promo activity and increase in select markets globally. The bottom line benefited from gross margin expanding 730 b.p. to 55% on improved channel mix, lower promo activity and supply efficiencies. SG&A expense increased 13% to $128,533,000 but leveraged on the higher top line.

Global clog sales were up 87%, hitting 76% of footwear sales ... Log in to view full article.