Net loss was ¥2,481 million ($22.8 mm) in the fiscal year ended Mar. 31 against a profit of ¥3,944 million last year while revenues declined 13% to ¥124,561 million ($1,142.3 mm) down from ¥142,443 million. The bottom line included ¥1,815 million in extraordinary one time charges this year vs. ¥1,817 million last year. Sales were lower across the board, with athletic wear sales down 11% to ¥79,727 million, golf decreasing 8% to ¥33,362 million and outdoor dropping 30% to ¥11,471 million. Gross margin contracted 130 basis points to 54.6%, while operating expenses were down 5% in yen but still deleveraged ... Log in to view full article.