Goldwin, Zett Improve in Q3, Yonex Falters
Goldwin, which owns The North Face and other apparel brands for the Japanese market, saw comprehensive net income rise 13% to ¥1,513 million ($13.8 million) from ¥1,334 million in the fiscal third quarter ended Dec. 31. Excluding a billion yen swing in the equity method valuation of an affiliate and other comprehensive items, net income would have more than doubled to ¥4,099 million from ¥1,913 million boosted by a 260 basis point gross margin improvement to 51.2%. Sales were 5% higher at ¥18,234 million ($166.7 million) vs. ¥17,300 million. Warm weather early in the quarter impacted outdoor brand sales, but ... Log in to view full article.