Net income at the Japanese retailer slipped 11% to ¥2,930 million ($22.1 mm) from ¥3,296 million for the nine-months through Mar. 31, as revenues were up 8% to ¥178,928 million ($1,352 mm) from ¥166,031 million. Alpen sees signs of a gradual recovery as Covid restrictions were eased, though rising costs, the weaker yen, and global economic slowdowns were a headwind. Gross margin contracted 110 basis points to 39.0%, largely due to cleaning out slow-moving inventory and the impact of rising costs of private brands. SG&A was up 6% on an increase ... Log in to view full article.