Net income was $161,621,000 for the final quarter against a loss of $384,611,000 last year that included a $457 million deferred tax asset writedown, as revenues were 8% higher at $1,768,301,000 vs. $1,645,175,000 on strong Champion brand growth in the Activewear and International segments. Direct-to-consumer, including company-owned retail stores and all online sales, increased 23% in the fourth quarter and represented about 25% of total sales. Gross margin expanded 180 basis points to 39.9%. For the full year, net income was $553,084,000 up from $61,894,000 on a 5% top line increase to $6,803,955,000 from $6,471,410,000.
Activewear segment sales increased 14% in ... Log in to view full article.