Net income at the multi-banner Japanese retailer was nearly halved to ¥1,498 million ($13.6 mm) from ¥2,897 million in the fiscal first quarter ended Jun. 30, as revenues slipped 1% to ¥60,796 ($553.2 mm) from ¥61,338 million. Gross margin increased 50 basis points to 40.9%, but SG&A increased by ¥846 million, or 170 b.p. as a percent of sales. Bright spots in the quarter included outdoor products, which comped ... Log in to view full article.