Net income tumbled 68% in the first quarter to $13.0 million from $40.5 million on 16% lower revenues of $439.3 million against $523.4 million despite a more than 17% increase in owned e-commerce sales. With its own and customer stores closed, WWW has focused on maintaining its distribution and direct ship capability to support DTC e-commerce and drop ship orders for its customers. Total owned and customer online sales in 2020 are expected to account for 50-60% of total revenues, up from 40% in 2019, as it will prioritize e-commerce for the remainder of the year.

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