Net profit improved 6 to $119,397 from $112,385,000 for the second quarter ended Aug. 4 as sales rose 1% to $2,177,488,000 from $2,156,911,000 that included a 4.0% comp decline adjusted for the calendar shift. Sales and margins for the quarter were very strong except for three problem areas that it is either de-emphasizing, namely hunting and electronics, or looking to re-engineer, specifically its Under Armour business. Excluding those three areas, comps would have been up 1%, suggesting that 200 b.p. of that difference was due to the de-emphasis of hunting and electronics and another 300 b.p. of that related to ... Log in to view full article.