The final quarter saw an 11% increase in net income to $157,653,000 from $141,770,000, helped by an improved gross margin and lower SG&A, as revenues declined 3% to $1,746,503,000 from $1,808,470,000 including a -5.1% comp. Transactions fell 6.4%, with an average ticket that was 1.3% higher, and e-commerce sales ticked up just over 1%. The quarter got off to a slow start, missing the pull-forward of demand seen in the fall of 2021, then improving with a strong Thanksgiving weekend and Cyber Monday. Sales fell off with a shopping lull in ... Log in to view full article.