Net income slipped 55% at the multi-banner Japanese retailer to ¥1,655 million ($15.2 mm) from ¥3,657 million in the nine months ended Dec. 31, as revenues inched down to ¥173,948 million ($1,595.2 mm) from ¥174,301 million. Gross margin expanded 20 basis points to 39.3%, but SG&A was up ¥2,299 million and deleveraged 140 b.p. Sales were driven by a 4% increase in outdoor gear to ¥27,876 ... Log in to view full article.