Net income at the Japanese retailer increased 56% in the fiscal first quarter ended Sep. 30 to ¥245 million ($1.7 mm) from ¥157 million, as revenue inched up 4% to ¥59,049 million ($408.8 mm) from ¥56,891 million. Gross margin contracted 120 basis points to 38.1%, while SG&A was 3% higher, deleveraging slightly as a percent of sales. Comp store sales were a mixed bag with golf inching down 2% to ¥21,819 million due to unseasonably warm weather and falling sales compared to the pandemic-fueled ... Log in to view full article.