Net income declined 31% to $86,801,000 from $124,990,000 for the second quarter ended Aug. 2 as sales rose 2% to $902,942,000 from $883,352,000, powered by a 155% surge in digital selling to $554.3 million or 61% of total revenue that was offset by a 51% decline in store revenue to $287.2 million. The results were above guidance and Street estimates but the stock eased 3% in a bear market to $349, a not surprising development for a company sporting a market cap of $45 billion.

While it is clear that the pandemic is challenging the lulunatics along with everyone else, it ... Log in to view full article.