Net income for Q1 2026 was $46.9 million ($0.92 per diluted share), up from $35.2 million ($0.70 per share) in Q1 2025.
Net sales rose 6.1% year-over-year to $288.7 million, with comparable store sales up 5.1% and online sales up 2.8%.
Operating margin improved to 20.6% from 16% in the prior year quarter.
Store count increased to 442 at quarter-end, with three new stores opened and one closed after the quarter.
Gross margin was 46.2%, down 50 basis points year-over-year due to a 10 bp merchandise margin reduction and 40 bp increase in buying, distribution, and occupancy expenses.
SG&A expenses were 25.6% of net sales, down from 30.7%, aided by a $19.1 million litigation settlement.
Excluding the settlement, SG&A rose 150 basis points, mainly from higher incentive and equity compensation.
Inventory increased 13.5% year-over-year to $150.2 million; cash and investments totaled $323.8 million.
Gross profit increased to $133.5 million from $127.0 million year-over-year.
Women's merchandise sales grew 11% year-over-year, now 52% of total sales; women's denim up 8%.
Men's merchandise sales increased 2%, now 48% of sales; men's denim down 1.5%, but private brands up 0.5%.
Kids business sales up 16% year-over-year.
Accessories and footwear sales rose 6% and 0.5%, respectively.
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