Net income decreased 39% to $16,526,000 in the first quarter from $26,897,000 last year on revenue that was down 11% to $281,184,000 from $317,527,000, with total comps down 11.9%, though the Shoe Station banner was down just mid-singles. Traffic declined 10% as a 9% drop in average federal tax refund value meant the usual spending surge from lower income customers failed to materialize, while unfavorable weather in the second half of the quarter saw seasonal categories drop 23%. Adult athletic and children’s athletic both comped down in the low-teens. Elsewhere, women’s ... Log in to view full article.