Descente’s net income was up 36% to ¥3,191 ($23.2 mm) in the first fiscal quarter ended June 30 from ¥2,353 million last year, as revenues were up by 3% to ¥27,162 million ($197.7 mm) against ¥26,425 million. The Japanese sportswear company’s gross margin improved by 180 basis points to 60.8%, while operating expenses 12% in yen, deleveraging as a percent of sales. The home Japan market declined 8% to ¥11,079 million due to the impact of the termination of the Marmot license last Dec., ... Log in to view full article.