Net income increased 18% to ¥4,868 million ($43.7 mm) from ¥4,114 million in the third quarter on 3% lower revenues of ¥102,904 million ($923.0 mm) down from ¥106,556 million pulled down by weak sales in the Americas and EMEA. Gross margin expanded 80 basis points to 46.5% on better product mix. Asics lowered its full-year revenue forecast to ¥385 billion ($3,453 mm) from ¥425 billion, cut operating income guidance to ¥12 billion from ¥20 billion, and pulled its earnings forecast outright citing a lack of visibility. It blamed declining wholesale and DTC sales in each major region and foreign exchange ... Log in to view full article.