Comprehensive net income declined 89% in the third quarter to ¥1,202 million ($11.2 mm) from ¥11,221 million last year on 4% lower revenues of ¥98,962 million ($922.3 mm), down from ¥102,904, which would have been up constant currency. Excluding foreign currency translation adjustments and other comprehensive items, net income was down 71% to ¥1,424 million from ¥4,868 million. Gross margin contracted 70 basis points to 45.8% due to discounting to drive sales in the U.S. and Europe, while SG&A was up slightly, and deleveraged 180 b.p. on the lower top line. Asics reiterated its full-year guidance for sales of ¥390 ... Log in to view full article.