Net income jumped 37% to $534,560,000 from $390,183,000 for the FY ended Dec. 31 as sales rose 1% to $8,480,558,000 from $8,434,915,000. The manufacturing segment had a sales decline of 2% to $6,039,334,000 from $6,136,737,000 while the retail operation’s sales gained 6% to $2,442,224,000 from $2,298,178,000. The manufacturing revenue decline was mainly the result of lower ASPs as production volume was up 1% to 322.0 million pairs from 317.5 million, while ASPs dropped to $16.88 from $17.25.

Sneaker sales rose slightly to $4,110.3 million from $4,015.9 million while casual footwear sales fell to $1,230.7 million from $1,365.9 million. Sandals were basically ... Log in to view full article.