Net income at the multi-banner Japanese apparel and footwear retailer grew 10% to ¥14,296 million ($88.6 mm) from ¥12,953 million for the first quarter ended May 31, as sales totaled ¥105,483 million ($654.0 mm), up 8% from ¥97,698 million. Gross margin contracted 90 b.p. to 51.6%, while SG&A growth remained below top-line gains, going +5% in yen and leveraging 100 b.p. to 32.3% of sales.

Backing out inter-segment sales, domestic results were up 7% to ¥77,661 million. Digital sales accounted for 10.6% in the region, down 30 b.p. Segment profit for the ... Log in to view full article.