.The retailer said net income jumped to $100.4 million. However, last
year’s profit was hit by an investment loss. Sales rose 11% to $832
million, with comparable sales up 5% .
.Gross margin fell to 37.1% of sales, down from 41.6% in the previous
year, which the company attributed to higher cotton costs and markdowns .
.“I am encouraged by our progress in the third quarter and the
continued momentum into the holiday season,” said CEO Jim O’Donnell .
.“Strong top line growth is evidence of the success of our key item
strategy and merchandise improvements. Looking ahead to 2012, we have
tremendous opportunity to capitalize on the strength of our brands and
drive future profitable growth.” .
Date:12/1/2011
Source:www.mrketplace.com