Himaraya’s Profits Squeezed by Gross Margin Pressure
Net income at the Japanese retailer plummeted 90% to ¥19 million ($0.1 mm) from ¥189 million, despite sales that came in 1% higher at ¥45,248 million ($288.4 mm) from ¥44,707 million for the nine months ending May 31. Ski & Snowboard sales were down 14% to ¥2,102 million due to a mild winter, while Golf grew by 4% to ¥7,771 million, driven by strong demand for golf bags and new ... Log in to view full article.
