Net income was $19,936,000, up 10% from $18,184,000 for the final 14 weeks ended Feb. 3 on an 11% sales improvement to $308,245,000 against $263,635,000 which included a 7.5% comp gain for the comparable 14 weeks. The final quarter this year included $3.8 million in sales related to loyalty program redemptions and a net $2.9 million charge related to tax adjustments, some of that related to the ongoing red ink in Europe.

The momentum carried into Q1 as the four weeks ended Mar. 3 saw a 9.2% comp gain against a 3.1% decline for a 23% hike in sales to $63.4 ... Log in to view full article.