This is a 17% increase from EPS from continuing operations of $0.35 for the comparable quarter last year.
Total net revenue increased 2% to $941 million from $919 million last year.
Consolidated comparable sales increased 2%, following a 9% increase last year.
Total gross profit increased 3% to $378 million from $368 million last year. The gross margin rose 20 basis points to a rate of 40.2%. The increase was the result of an improved IMU, partially offset by a slight increase in markdowns. Buying, occupancy and warehousing costs were flat as a rate to sales.
Selling, general and administrative dollars were down slightly to $220 million and leveraged 60 basis points to a rate of 23.4%. Increased investments in advertising were offset by well-controlled expenses.
Operating income increased 8% to $118 million from $109 million last year, and the operating margin expanded by 70 basis points to 12.6% as a rate to revenue.
EPS of $0.41 increased 17% from EPS from continuing operations of $0.35 last year.
Net income per share last year, which included a $0.03 EPS gain from discontinued operations, was $0.38. ■
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