Net income in the second quarter was boosted by a $290 million fair value adjustment on the investment in sneaker marketplace GOAT, resulting in a $430 million profit, up from $45 million last year, on 10% higher revenues of $2,275 million against $2,077 million. Blended comps improved 6.9%, following an 18.6% gain last year. Store comps increased 28.4% and e-commerce penetration was 20%, implying about a one-third decline in online sales from the pandemic year, but up from 14% penetration in 2019. Compared to Q2 2019, revenues were up 28%. Adjusted net income, excluding the GOAT appreciation and other one-time ... Log in to view full article.