Xebio Net Tumbles on Lower Sales
Net income at the Japanese retailer declined 78% to ¥408 million ($3.7 mm) from ¥1,884 million for the fiscal year ended Mar. 31 on 3% lower sales of ¥225,312 million ($2,068.0 mm) against ¥231,629 million. Gross margin was up 150 basis points to 39.4% but SG&A was also higher, expanding 160 b.p. as a percent of sales. Golf led sales gains for the year with a 4% improvement to ... Log in to view full article.