Net income increased 3% to $21,509,000 from $20,910,000, benefitting from a lower tax rate, but the operational results were less impressive, as sales were down slightly to $274,707,000 from $275,688,000 and same store sales slipped 0.3% in the first quarter ended May 5. Feb. started slow, comping down 7.3% on the new normal of late tax refunds, then rebounded to +6.1% in Mar. before pulling back to +0.6% in Apr. Traffic, conversion and average order value were all up for the quarter. E-commerce share of sales declined sequentially to 7% in the quarter from 7.6% in Q4 ‘17, an implied ... Log in to view full article.