The UK-based athletic apparel and accessories brand saw net income drop 38% to £22,529,000 ($27.8 mm) for the fiscal year ended Jul. 31, 2022, compared to £36,497,000 in the prior year, while the top line was up 21% to £484,476,000 ($597.4 mm) over £401,946,000. The FY22 results were just filed with Companies House, the UK’s official registrar of LLPs and limited companies. Gross margin contracted 540 b.p. to 65.0%, hit by higher supply chain costs, including raw materials, labor and transportation, as well as more discounting Below the line, a 30% ... Log in to view full article.