Mizuno Recovery Driven by Golf, International
Net income attributable to shareholders slipped 11% to ¥1,619 million ($13.9 mm) in the final fiscal quarter ended Mar. 31 from ¥1,811 million prior, as revenues grew by 10% to ¥47,893 million ($412.2 mm) from ¥43,684 million. Gross margin was down 100 basis points to 39.0%, while SG&A grew by 12% in yen, deleveraging 70 b.p. as a share of sales. Japan, which accounts for nearly three-quarters of the top line, grew just 3% to ¥34.8 billion. All other regions were up double digits. Americas revenues grew 16% in the quarter to ¥5.1 billion ($44 mm), EMEA was up 31% ... Log in to view full article.