Net income was $979,000 against a loss of $3,565,000 in the second quarter ended Jul. 29 on 3% sales growth to $206,609,000 from $201,653,000 and gross margins that were 40 basis points higher at 37.0%. Excluding restructuring and other charges last year, adjusted EBITDA was $8,541,000 up from $7,074,000. PERY opined that the retail marketplace has largely rationalized its inventory levels following last year’s consolidation, and its own inventory at quarter end was $131.2 million, ... Log in to view full article.