The fashion and technical performance apparel brand’s net income dropped 63% to $1,204,000 from $3,267,000 in the fiscal third quarter ended Dec. 31, on 21% lower revenues of $12,726,000 down from $16,146,000. Wholesale tumbled 32% to $8,974,000 due to orders pulled forward into FQ2, while e-commerce grew 23% to $3,752,000. Gross margin narrowed by 20 basis points to 38.2%, and operating expenses increased 7%, deleveraging 850 b.p. to 32.5% of ... Log in to view full article.
