Net loss at the Japanese golf brand was ¥51.2 million ($0.5 mm) in the fiscal first half ended Sep. 30 against income of ¥2,134.5 million last year on 8% lower revenues of ¥10,591.0 million ($98.7 mm), down from ¥11,503.2 million. Gross margin plunged 940 basis points to 49.7% while SG&A was up ¥503.7 million and increased 840 b.p. as a percent of sales. The sales shortfall was attributed to a planned phase-out of its Zeal club line in favor of expanding its Tour World family ... Log in to view full article.