Despite a traffic impact from the three hurricanes, SCVL comps increased 4.4%, driving net income 11% higher to $10,697,000 from $9,672,000 in the third quarter ended Oct. 28 on a 5% top line gain to $287,469,000 from $274,524,000. Gross margin slipped 10 basis points to 29.8% with an 80 b.p. decline in merchandise margin from discounting partially offset by 70 b.p. of buying, distribution and occupancy expense leverage. SG&A was up $1.2 million, but improved 70 b.p. to 23.6% of sales. Inventory was down 4.3% on a per-store basis in line with plan. Hurricane damage in Texas, Florida and Puerto ... Log in to view full article.