Net income increased by 75% in the second quarter to ¥8,486 million ($61.8 mm) from ¥4,837 million, on 15% higher sales of ¥137,782 million ($1,002.8 mm) up from ¥119,751 million, leading the Japanese sportswear brand to raise full-year revenue guidance to ¥550,000 million from ¥510,000 million. Net income is now expected to come in at ¥25,000 million, rather than ¥20,000 million. Gross margin expanded by 280 basis points to 51.9% on a more favorable mix and higher prices, despite continuing ForEx headwinds. SG&A was 21% higher in yen, growing 200 b.p. ... Log in to view full article.