August 22, 2017
Net income increased 14% to $28,599,000 from $25,032,000 as the retailer reported comp store sales that were up 0.6%, its first positive comp in two years, on 3% higher revenues at $680,409,000 vs. $658,944,000.
Comprehensive net income surged 34% to RMB368.7 million ($53.7 million) from RMB274.7 million helped by a RMB52.3 million beneficial swing in foreign exchange as sales increased 9% to RMB2,798.1 million ($407.7 million) from RMB 2,555.5 million in the first half.
A HKD137.9 million increase in value of investment properties and a HKD83.2 million benefit from foreign exchange helped boost comprehensive net income to HKD135.9 million ($17.7 million) in the first half despite revenues that were off 10% to HKD158.7 million ($20.6 million) from HKD175.7 million.
Starting with the 2018/19 season, the Big a will take over supplying the Yellow Jackets’ 17 varsity sports programs from Russell Athletic in a deal that continues through 2024.