Increase in Net Income and Earnings Per Share
Net income for the quarter was $45 million or $0.89 per share, compared to $39.3 million or $0.78 per share in the previous year, marking a significant improvement in profitability.
Growth in Net Sales and Online Sales
Net sales for the quarter increased by 8.3% to $305.7 million, with online sales seeing a 17.7% increase to $43.6 million, indicating strong overall sales performance.
Improved Gross and Operating Margins
Gross margin increased by 50 basis points to 47.4%, and operating margin improved to 18.4% from 17.1% in the prior year, demonstrating efficient cost management.
Strong Performance in Women's and Kids Categories
Women's merchandise sales increased by 18.5%, and the kids' business grew by 23%, indicating robust demand in these segments.
Successful Store Management
The company opened 2 new stores, completed 4 remodels, and plans to open 4 additional stores and complete 12 more remodels by the end of the year.