Himaraya, the big Japanese sports retailer, turned around to a net loss of 811 million yen (€7.08m-$7.80m) for the financial year ended in March from a profit of ¥1,323 million in the previous year. The Kumamoto earthquakes and 19 percent drop in sales of winter sports equipment were held responsible for a slight drop in revenues to ¥72.0 billion (€628.9m-$692.8m). The gross margin fell by two percentage points to 36.1 percent due to bigger discounts and one-time impairment charges of ¥793 million (€6.93m-$7.63m) due to the earthquakes. The company, which ended the year with 123 stores, plans to close 13 unprofitable units. It anticipates a profit of ¥550 million (€4.81m-$5.29m) on sales of ¥73.5 billion (€642.4m-$707.4m) for this year.