Today’s news that the Japan’s GDP jumped 6% in the second quarter reflects a post-Covid recovery gaining steam, which is benefitting the nation’s large sporting goods retailers. Xebio, which operates several sporting goods, golf and outdoor banners, saw revenues grow 1% to ¥62,266 million ($453.2 mm) over ¥61,463 million for its fiscal first quarter ended June 30. Profits decreased 37% to ¥1,987 million ($14.5 mm) from ¥3,177 million, however, as gross margin contracted 100 b.p. to 38.7%, while SG&A increased 6% in yen, outpacing topline growth. Golf posted a 5% decrease ... Log in to view full article.