Net income increased 11% to $8,549,000 in the fiscal first quarter ended June 30, up from $7,682,000 last year, on 2% lower revenues of $1,317,012,000 against $1,349,057,000, pulled down by the weak and over-inventoried U.S. market. Those marketplace factors impacted retailers’ open to buy and willingness to take on additional stocks, especially in apparel, sending wholesale sales down 6% to $742.0 million. Distributor markets and the off-price channel both improved, however. Direct-to-consumer fared better, growing by 5% to $544.2 million, with unspecified gains in both brick-and-mortar and e-commerce sales.

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