Net income doubled to C$38,386,000 ($30.6 mm) from C$19,603,000 bolstered by a 420 basis point gross margin gain to 50.5% as revenues jumped 35% to C$172,330,000 ($137.5 mm) from C$127,935,000 in the fiscal second quarter ended Sep. 30. The margin improvement came from sales in higher margin countries, lower production costs, and reduced inventory reserves. Wholesale sales increased 24% to C$152.1 million, including C$13 million in revenue pulled forward from FQ3 by eager retailers, with gross margins expanding 200 b.p. to 47.4%. Direct-to-consumer revenues quadrupled to C$20.3 million, driven by North American e-commerce sales with added benefit from brick-and-mortar store ... Log in to view full article.