First half net income attributable to shareholders of the footwear maker nearly doubled to $60,547,000 from $31,132,000 as sales climbed 19% to $827,193,000 from $695,465,000, lapping last year’s 36% rebound coming out of the pandemic. Stella operated at close-to-full utilization for the period. Pairs sold increased 9% to 29.0 million, while ASP was also higher, growing 8% to US$27.80 per pair. Gross margin narrowed by 20 basis points to 19.8%, with higher prices mostly offsetting input costs, but SG&A was lower, as a 4% reduction in administrative expenses more than outweighed ... Log in to view full article.