Himaraya Sales, Profits Fall Through Nine Months
Comprehensive net income dropped 53% to ¥388 million ($3.5 mm) for the nine months ended May 31 from ¥820 million last year on 1% lower revenues of ¥50,610 million ($459.1 mm) vs. ¥51,218 million. Gross margin narrowed 80 basis points to 33.7%, pressured by more promotional e-commerce sales, and SG&A deleveraged 20 b.p. on the lower top line. The Japanese retailer closed another store in FQ3 for a ... Log in to view full article.