Japanese Retailers’ Bottom Lines Decline on Margin Pressure
Alpen’s comprehensive net loss was ¥2,310 million ($21.0 mm) for the nine months ended Mar. 31 against income of ¥1,007 million last year, on sales that inched 1% lower to ¥165,031 million ($1,497.6 mm) from ¥165,938 million. Comp store sales were positive overall, but winter sports revenues were depressed by the low snowfall levels that killed consumer demand, and golf sales were also lower this year lapping new club releases last spring. Bright spots included casual-oriented sports apparel and team sports. Discounting to boost revenues sent gross margin down 120 basis points to 39.1%, while SG&A was essentially flat. Fiscal ... Log in to view full article.