Net income at multi-banner Japanese retailer Xebio slipped 46% to ¥888 million ($8.3 mm) from ¥1,655 million in the first nine months of its fiscal year, on 14% lower sales of ¥149,662 million ($1,401.3 mm) down from ¥173,948 million. Third quarter sales were up 4%, however, as it clawed its way back from double-digit declines in the fiscal first half. Year-to-date, general sporting goods and footwear sales dropped 25%, golf declined 5%, apparel was off 14% and outdoor fell 16%. The small winter sports category grew by 7%, however. Gross margin was up 20 basis points to 39.5%, but SG&A ... Log in to view full article.