Net income jumped 71% to $1,449 million in the fiscal third quarter ended Feb. 28 from $847 million last year, but shipping container shortages, U.S. port congestion and store closures in EMEA held the top line to just 3% growth to $10,357 million against $10,104 million. Direct sales grew 20% to $4.0 billion, including digital sales that increased 59% with strong double-digit growth in all geographies, but wholesale was down. Digital has grown 10 percentage points as a share of total sales year-over-year.

The Eager Beavertons are optimistic that vaccinations will power a return to relative normalcy, eventually, but Covid effects ... Log in to view full article.