Net income jumped 12% to $7,155,000 from $6,361,000 in the first quarter, driven by 350 basis points of gross margin expansion to 49.9% on 4% lower revenues of $267,907,000 compared to $279,140,000. Higher quality sales and a mix that included more high-margin molded product contributed to the improved gross margin. Pairs were up 0.8% to 16.4 million while ASP fell 4.4% to $16.11 due to more molded clog sales. SG&A reduction is CROX’ next priority, and the company spent $2.2 million in Q1 on reorganization and consulting services and expects to have $7 to $10 million more in charges this ... Log in to view full article.