Net income gained 98% to $58,434,000 over $29,567,000 on revenues that dropped 5% to $416,288,000 from $438,195,000, falling mostly on lower firearms and ammunition sales compared to the prior year. The top line was up 61% over Q4 ’19, however. Profits benefitted from a merger termination cash payment of $55,000,000 from Great Outdoors Group in Dec. Stores comped down 10.8% for the quarter. Firearms and ammo lapped difficult comps, dropping 23% and 26%, respectively. These were partially offset by footwear gaining 17% and apparel going up 3%.

Gross margin improved 40 b.p. to 32.8% from 32.4% on favorable product mix and ... Log in to view full article.