Revenue during the quarter went up marginally by 1.44 percent to $691.10 million from $681.27 million in the previous year period. Gross margin for the quarter contracted 175 basis points over the previous year period to 28.25 percent. Total expenses were 94.08 percent of quarterly revenues, up from 92.85 percent for the same period last year. That has resulted in a contraction of 124 basis points in operating margin to 5.92 percent.

Operating income for the quarter was $40.88 million, compared with $48.72 million in the previous year period.

Roger Rawlins, chief executive officer stated, "First quarter sales were challenging, but trends improved during the quarter with comps turning positive in April. As expected, planned clearance activity and the addition of Ebuys drove lower gross margin and operating income. The investments we have made in our digital capabilities, such as our redesigned website and mobile app, drove robust growth in digital demand. We are intently focused on driving sequential top line improvements through key product and customer initiatives while balancing strategic investments with disciplined expense management."

For fiscal year 2017, the company expects diluted earnings per share to be in the range of $1.45 to $1.55 on adjusted basis.