Net income attributable to shareholders nearly tripled in the first quarter to $38.5 million from $13.0 million last year, helped by a $19.0 million positive swing in environmental cleanup costs, as revenues increased 16% to $510.7 million from $439.3 million, despite a shift of about $40 million into Q2 due to supply chain delays. Inventory was down 21% year-over-year to $320.9 million, impacted by the shipping issues that have affected the whole industry, but WWW said inventory position has improved since the end of Q1, enabling delayed orders to be fulfilled.

Michigan Group revenues gained 20% to $297.7 million driven by ... Log in to view full article.