Net income in the fiscal fourth quarter ended Mar. 31 was $89,520,000 against a loss last year of $483,776,000 that included a $323 million impairment charge and a $60 million loss on debt extinguishment, as the top line expanded by 23% to $2,582,672,000 from $2,102,421,000. Revenue gains were driven by 20% growth from the Big 4 Brands, an extra week in this year’s quarter, e-commerce sales, and growth in APAC that included an 81% gain in Greater China, lapping the worst of the pandemic for the region last year. This year, the bottom line included a $12.5 million impairment.

Direct-to-consumer was ... Log in to view full article.