Profit attributable to shareholders slipped 14% to $78,633,000 from $91,944,000 for the first half, impacted by some short-term gross margin headwinds, as revenue increased 1% to $775,074,000 from $770,011,000. The high-end footwear maker’s facilities in Indonesia and the Philippines have ramped up more slowly than planned, and workforce productivity there is still not up to expectations. Moving some of that production to more expensive Vietnam factories pushed gross margin down 320 basis points to 22.6%. Stella held the line on operating expenses; selling and distribution expenses were up 11%, while administrative ... Log in to view full article.