The Japanese retailer’s bottom line swung to a ¥860 million ($8.9 mm) loss from last year’s ¥11 million profit for the fiscal year ended Aug. 31, as sales ticked up 1% to ¥61,099 million ($629.4 mm) from ¥60,447 million. Extraordinary losses fell to ¥1,162 million from ¥281 million in the prior year, driven by fixed-asset impairment and store-revenue declines following consolidation of e-commerce shipping to warehouses from the prior store-fulfillment model. Some e-commerce sales will now be reallocated to a logistics and warehouse division. Gross margin contracted 60 b.p. to 34.5%, ... Log in to view full article.