After two quarters of losses, the bottom line rebounded to net income of ¥2,858 million ($26.9 mm) in the third quarter from ¥1,424 million, and revenues also returned to growth, gaining 2% to ¥101,309 million ($954.8 mm) from ¥98,962 million. E-commerce sales more than doubled. Gross margin was 90 basis points lower at 44.9% but a 7% reduction in SG&A that leveraged 380 b.p. on the higher revenues helped restore profits. Asics found the bulk of its cost savings from a lower advertising spend, with the rest coming from reduced personnel expenses, sales commissions and rent.

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