Net income increased 39% in the second quarter to $71,317,000 from $51,151,000, boosted by a $42.6 million net IEEPA tariff refund, on 9% higher revenue of $483,868,000 from $445,892,000. The tariff refund boosted gross margin by 780 basis points, and an additional 110 b.p. from pricing and product cost management resulted in 890 b.p. of expansion to 66.7%. SG&A was up 17% in dollars, deleveraging 340 b.p. to 47.3% of sales, mostly on a brand campaign timing shift into the quarter, along with inflationary pressure in distribution and fulfillment costs, higher ... Log in to view full article.