Final numbers for the fiscal year ended July 31 show the U.K. fitness brand’s top line increased 7% to £647,269,000 ($851.7 mm) from £607,345,000, while profits contracted 5% to £6,823,000 ($9.0 mm) from £7,197,000. The bottom line was impacted by £3.7 million in impairment charges. Increased discounting sent gross margin down by 100 basis points to a still heady 62.3%, while a 3% increase in distribution costs and 8% higher administrative costs resulted in SG&A rising 10 b.p. to 60.4% of sales. Inventory ended the period up 7%, in line with ... Log in to view full article.