The Japanese retailer eked out a ¥17 million ($0.2 mm) profit for the fiscal year ended Jun. 30, lapping a ¥935 million loss last year, on 5% lower revenues of ¥217,943 million ($2,027.4 mm) down from ¥228,267 million. Gross margin inched up 60 basis points to 40.0%, and profitability was helped by salary cuts and other expense savings that reduced SG&A by over ¥5 billion, leveraging 70 b.p. despite the lower sales. Following the consumption tax increase last fall, ... Log in to view full article.