Net income rebounded in the fiscal second quarter ended Sep. 30 to ¥4,996 million ($33.9 mm) from ¥2,962 million as sales increased 7% to a record ¥62,980 million ($427.0 mm), up from ¥58,830 million. Gross margin expanded by 20 basis points to 41.2%, while SG&A was 4% higher leveraging 100 b.p. to 32.1% of the top line. Mizuno left full-year guidance unchanged at ¥260,000 million in revenues and ¥16,500 million in net income.

Americas sales slipped 3% on a reported basis to ¥8,942 million ($60.6 mm) after a strong start to the ... Log in to view full article.