Net income was $9,885,000 against a loss of $10,391,000 in the first quarter ended Apr. 30 on sales that surged 16% to $611,743,000 from $529,042,000 driven by solid gains in wholesale sales. Gross margin inched up 40 basis points to 38.5%. Fanatics represents about 20% of team licensed sales, GIII said, and Vilebrequin swimwear comped up low-single digits. The retail business was up slightly and comps improved ... Log in to view full article.