The Japanese retailer swung to a net loss of ¥477 million ($4.4 mm) in its fiscal first quarter ended June 30, from a profit of ¥1,498 million last year as sales dropped 33% to ¥40,856 million ($565.5 mm) from ¥60,796 million. Gross margin improved by 70 basis points to 41.6%, but SG&A deleveraged 800 b.p. on the lower sales, despite a ¥3,611 million reduction in yen. General sporting goods ... Log in to view full article.