The U.K. retail group’s Rest of World Retail segment, which includes U.S. banners Eastern Mountain Sports and Bob’s Stores, along with the group’s Malaysian Sports Direct stores, saw revenues drop 12% to £152.7 million ($203.6 mm) from £174.2 million for the fiscal year ended Apr. 25. Segment operating profit was £14.6 million ($19.5 mm) against a loss of £3.3 million the prior year, helped by improved operating efficiencies in the U.S. business, while the group’s preferred profitability metric of underlying EBITDA was £25.6 million ($34.1 mm) against a loss of £6.8 million. Gross margin narrowed by 250 basis points to ... Log in to view full article.