Net income rose 251% to ¥2.5 billion ($22.0 mm) from ¥700 million for the six months ended Sep. 30 despite a 2% decline in sales to ¥91.8 billion ($808.5 mm) from ¥93.1 billion as a 300 b.p. improvement in gross margin to 41.0% more than offset slight SG&A deleverage of 80 b.p. to 36.7%. The sneaker business continued to struggle with sales down 9% globally to ¥27.5 billion. Apparel and equipment sales were essentially flat at ¥27.5 billion and ... Log in to view full article.