For the thirteen weeks ended October 28, 2012:
· Net revenue for the quarter increased 37% to $316.5 million from $230.2 million in the third quarter of fiscal 2011.
· Comparable stores sales for the third quarter increased by 18% on a constant dollar basis.
· Direct to consumer revenue increased 89% to $45.1 million, or 14.3% of total Company revenues, in the third quarter of fiscal 2012, an increase from 10.4% of total Company revenues in the third quarter of fiscal 2011.
· Gross profit for the quarter increased 36% to $175.3 million, and as a percentage of net revenue gross profit decreased to 55.4% for the quarter from 55.8% in the third quarter of fiscal 2011.
· Income from operations for the quarter increased 35% to $80.6 million, and as a percentage of net revenue was 25.5% compared to 25.9% of net revenue in the third quarter of fiscal 2011.
· The tax rate for the quarter was 30.1% compared to 35.5% a year ago. The lower effective rate reflects the ongoing impact of revised intercompany pricing agreements.
· Diluted earnings per share for the quarter were $0.39 on net income of $57.3 million, compared to diluted earnings per share of $0.27 on net income of $38.8 million in the third quarter of fiscal 2011.
For the thirty-nine weeks ended October 28, 2012:
· Net revenue for the first three quarters increased 41% to $884.9 million from $629.3 million in the same period of fiscal 2011.
· Comparable stores sales for the first three quarters increased by 19% on a constant dollar basis.
· Direct to consumer revenue increased 112% to $119.0 million, or 13.4% of total Company revenues, in the first three quarters of fiscal 2012, an increase from 8.9% of total Company revenues in the first three quarters of fiscal 2011.
· Gross profit for the first three quarters increased 36% to $488.3 million, and as a percentage of net revenue gross profit decreased to 55.2% for the first three quarters from 57.3% in the same period of fiscal 2011.
· Income from operations for the first three quarters increased 31% to $223.9 million, and as a percentage of net revenue was 25.3% compared to 27.2% of net revenue in the same period of fiscal 2011.