Net income was up 42% in the fiscal year ended Mar. 31 to ¥5,464 million ($41.3 mm) from ¥3,836 million the year before, as sales grew 7% to ¥239,293 million ($1,807.7 mm) from ¥223,282 million. Gross margin dipped 60 basis points to 38.3%, while SG&A was up 2% in yen, but leveraged 180 b.p. as a percent of sales. The multi-banner Japanese retailer’s sales were up across most channels, with golf leading the way with a 9% improvement to ¥84,072 ... Log in to view full article.
