Net income rebounded to ¥10,773 million ($98.8 mm) in the fiscal year ended June 30, from a barely breakeven ¥17 million last year, as revenues grew 7% to ¥233,215 million ($2,139.6 mm) from ¥217,943 million. Gross margin at the Japanese retailer expanded 240 basis points to 42.4%, while SG&A was just 1% higher in yen, but leveraged 220 b.p. on the sales gain. Strong golf gear sales drove the top line improvement, jumping 18% to ¥88,996 million, helped by the sport’s social distancing benefits and increasing participation by young ... Log in to view full article.