Himaraya saw its net losses decline to ¥ 48 million (€0.35m-$0.43m) in the first quarter of its fiscal year, ended Nov. 30, from ¥ 295 million in the same period a year earlier. The Japanese sports retailer's revenues fell by 3 percent to ¥ 15.4 billion (€113.5m-$139.3m) during the period, but the gross margin inched up by 0.3 percent to 36.1 percent due to improved purchasing and inventory management. Sportswear sales went up by 7 percent, due to cold weather, but team sports, racquet sports and golf declined.

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