Net loss attributable to shareholders was ¥9,671 million ($85.1 mm) in Q4 compared to a loss of ¥12,718 in 2020, on sales that inched up 2% to ¥81,875 million ($720.1 mm) from ¥80,578 million. Gross margin was up 150 basis points year-over-year to 47.1%, but down sequentially from Q3 and Q2, as freight costs, the effects of Q3’s Vietnam factory shutdowns, and supply chain pressures hurt profitability. SG&A jumped 19% in yen, deleveraging 950 b.p. as a percent of revenue.

In line with Asics’ pre-announcement last month, North America and China powered the sales gains, while Europe and the home Japanese ... Log in to view full article.