Profit inched higher last year at the multi-banner Japanese apparel and footwear retailer, growing 2% to ¥46,346 million ($309.7 mm) from ¥45,358 million for the 12 months ended Feb. 28, as sales increased by the same percentage to ¥378,624 million ($2,529.7 mm) from ¥372,202 million. Consolidated gross margin expanded by 20 basis points to 50.7%, while operating expenses were 3% higher on growing staff and rent costs, increasing 30 b.p. as a percent of sales. Inventory ended the year up 16% to ¥106,562 million.

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