Xebio Sales Inch Up in First Half
Net income declined 57% at the Japanese multi-banner retailer to ¥1,469 million ($13.7 million) in the fiscal first half ended Sep. 30 from ¥3,433 million last year, on 1% higher sales of ¥117,505 million ($1,094.8 mm), up from ¥116,437 million. Sales rebounded up 3% in the second quarter after a 1% decline in Q1. Gross margin was 60 basis points lower at 39.3%, while SG&A was up 60 b.p. as a percent of revenue on higher advertising expense, though ... Log in to view full article.