Fila Group’s net income dropped 51% to KRW 45,520 million ($37.3 mm) from KRW 91,972 million as revenues slid by more than a third to KRW 625,011 million ($512.1 mm) from KRW 959,303 million. Excluding consolidated Acushnet revenues, sales would have been down 39% to KRW 257,361 million, and despite the top line falloff, gross margin expanded by 10 basis points to 52.3%. Fila USA pulled down the group’s overall results with a 60% decline in revenues to KRW 56,453 million ($46.3 mm) due to the complete retail shutdown here. Combined with a $2.4 million write-off from the Gordmans bankruptcy, ... Log in to view full article.