Wholesale net sales increased 13.6% to $313.3M
Retail gross margin up 250 bps to 58.7% due to a lower level of promotional activity.
Gross margin in the wholesale business grew 160 bps to 32.8% driven by an increase in the wholesale footwear segment.
Adjusted gross margin rate improved 130 bps to 36.6%.
Operating expenses as a percentage of sales down 10 bps to 26.8%.
Adjusted operating margin rate expanded 170 bps to 10.8%.
FY2017 Guidance: Net sales: +8% to +10%; GAAP EPS: $1.97 to $2.03; Adjusted EPS: $2.12 to $2.18.
SHOO -0.54% premarket.
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