Net income was $39.3 million in the fourth quarter ended Dec. 29 against a loss of $60.8 million last year as revenues inched up to $579.6 million from $578.6 million driven by solid results from Merrell and Sperry and 5% growth in international sales. Constant currency underlying revenue, which excludes retail closures, the conversion of Stride Rite to a licensing model, and the divestitures of Sebago and the defense department businesses, increased 5%. Gross margin expanded 80 basis points to 39.2% on a better mix and lower closeouts, and SG&A was down $16.7 million, or 290 b.p. as a percent ... Log in to view full article.