Net income improved 28% to ¥3,505 million ($27.0 mm) in the fiscal first quarter ended June 30, against ¥2,748 million last year, as revenues grew by 8% to ¥46,194 million ($356.2 mm) from ¥42,870 million led by strong hardgoods sales. Gross margin contracted by 100 basis points to 42.3%, while SG&A was up 3% in dollars, benefitting from a cost reduction program adopted over the past year, and leveraged 160 b.p. as a percent of sales. Mizuno maintained its full-year guidance for revenues of ¥183,000 million, up 6% from FY22, and ... Log in to view full article.