Alpen reported a 58 percent dip in comprehensive net income to 1,620 million yen (€12.7m-$14.4m) on 3 percent higher revenues of ¥227.6 billion (€1.8bn-$2.0bn) for the financial year ended on June 30. On an adjusted basis, the Japanese retailer's net income declined by 28 percent to ¥1,979 million (€15.5m-$17.5m). The gross margin fell by 2.1 percentage points to 40.5 percent, due to increased clearance activity. Excluding revenues from a ski resort, seven golf courses and 36 fitness clubs, sales of sporting goods grew by 1 percent to ¥129.4 billion in a flat market. Sales of golf equipment went up by 10 percent as players upgraded to better products, but sales of winter sports gear dropped by 8 percent, down to ¥12.6 billion (€98.6m-$111.6m). The athleisure trend boosted sales of sports shoes and apparel.