Unseasonably warm weather impacted ASO’s third quarter results, sending net income 24% lower to $99,978,000 from $131,741,000 on a 6% drop in revenues to $1,397,777,000, down from $1,493,925,000 including a -8.0% comp on top of Q3 ‘22’s 7.2% decline. The negative comp consisted of an 8.1% drop in transactions and a slight increase in average ticket. E-commerce sales penetration fell 10 basis points to 9.4%, an implied 7% drop in dollars.

Headwinds in the economy have changed consumers’ behavior, ASO said, coming out for key shopping occasions, but otherwise retreating during the ... Log in to view full article.