Increase in SG&A as a Percentage of Sales in the Retail Business
First written in FY2017-Q2. 16 of 37 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-08-04.
Sac'S Bar Holdings moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2026: 10 of 32 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- 2026-08-04WorsenedEarnings
「The ratio of selling, general and administrative expenses to net sales increased 0.1 percentage points year on year to 46.1%.」
The selling, general and administrative expense ratio for the retail and other businesses increased year on year. - FY2026WorsenedAnnual report
「Meanwhile, the SG&A expense ratio rose 1.4 percentage points from the previous fiscal year to 43.4% due to the decline in net sales and the impact of higher personnel costs, among other factors.」
The decline in net sales and higher personnel costs, among other factors, drove the SG&A expense ratio up from 42.0% in the previous fiscal year to 43.4%. - FY2026-H1WorsenedAnnual report
「The SG&A expense ratio rose 1.6 percentage points year on year to 45.0% as net sales declined.」
As net sales declined, the SG&A expense ratio rose 1.6 percentage points year on year to 45.0%. - FY2025MitigatedAnnual report
「The SG&A expense ratio fell 0.4 percentage points from the previous fiscal year to 42.0% due to the effect of expense reductions following the closure of 32 unprofitable and other stores, among other factors.」
The effect of expense reductions following the closure of 32 unprofitable and other stores, among other factors, brought the SG&A expense ratio down from 42.4% in the previous fiscal year to 42.0%. - FY2025-H1MitigatedAnnual report
「The SG&A expense ratio fell 0.5 percentage points year on year to 43.4% due to the effect of store closures and other factors.」
The SG&A expense ratio fell 0.5 percentage points year on year to 43.4% due to the effect of store closures and other factors. The improvement in the expense ratio from store rationalisation also emerged during the interim consolidated accounting period. - FY2024MitigatedAnnual report
「The SG&A expense ratio fell 1.5 percentage points from the previous fiscal year to 42.4% due to higher net sales and the effect of expense reductions following the closure of 32 unprofitable and other stores, among other factors.」
Higher net sales, the closure of 32 unprofitable and other stores, and expense reductions brought the SG&A expense ratio down from 43.9% in the previous fiscal year to 42.4%. - FY2024-Q3Smaller improvement; level unchangedAnnual report
「The SG&A expense ratio fell 1.6 percentage points year on year to 43.9% due to higher net sales, expense reductions and other factors.」
The SG&A expense ratio was 43.9%, unchanged from the cumulative previous quarter. Although it fell 1.6 percentage points year on year, the improvement was smaller than the 3.0-percentage-point decline in the cumulative previous quarter. - FY2024-Q2MitigatedAnnual report
「The SG&A expense ratio fell 3.0 percentage points year on year to 43.9% due to higher net sales, expense reductions and other factors.」
Higher net sales, expense reductions and other factors brought the SG&A expense ratio down 3.0 percentage points year on year to 43.9%. - FY2024-Q1MitigatedAnnual report
「The SG&A expense ratio fell 3.0 percentage points year on year to 44.4% as net sales increased.」
As net sales increased, the SG&A expense ratio fell 3.0 percentage points year on year to 44.4%. - FY2023MitigatedAnnual report
「Meanwhile, the SG&A expense ratio fell 6.7 percentage points from the previous fiscal year to 43.9% due to higher net sales and the effect of expense reductions following the closure of 53 unprofitable and other stores, among other factors.」
Higher net sales, the closure of 53 unprofitable and other stores, and expense reductions brought the SG&A expense ratio down 6.7 percentage points from the previous fiscal year to 43.9%. - FY2023-Q3MitigatedAnnual report
「The SG&A expense ratio fell 7.7 percentage points year on year to 45.5% due to higher net sales and the effect of expense reductions.」
Due to higher net sales and the effect of expense reductions, the SG&A expense ratio fell 7.7 percentage points year on year to 45.5%. - FY2023-Q2MitigatedAnnual report
「The SG&A expense ratio fell 10.4 percentage points year on year to 46.9% due to higher net sales and the effect of expense reductions.」
Due to higher net sales and expense reductions, the SG&A expense ratio fell 10.4 percentage points year on year to 46.9%. - FY2023-Q1MitigatedAnnual report
「The SG&A expense ratio fell 10.6 percentage points year on year to 47.4% as net sales increased.」
As net sales increased, the SG&A expense ratio fell 10.6 percentage points year on year to 47.4%. - FY2022MitigatedAnnual report
「The SG&A expense ratio improved 1.8 percentage points from the previous fiscal year to 50.7% as the company pursued a comprehensive review of various expenses.」
Following a comprehensive review of various expenses, the SG&A expense ratio improved 1.8 percentage points from the previous fiscal year. On a consolidated basis, management analysis showed a 2.1-percentage-point decline from the previous fiscal year to 50.6%. - FY2022-Q3MitigatedAnnual report
「The SG&A expense ratio fell 0.2 percentage points year on year to 53.2% due to higher net sales and expense reductions.」
Due to higher net sales and expense reductions, the SG&A expense ratio fell 0.2 percentage points year on year to 53.2%. - FY2022-Q2WorsenedAnnual report
「The gross profit margin had declined in the same period a year earlier because the company actively offered discounts to address lost sales opportunities from the prolonged temporary store closures and stimulate consumer spending. In the cumulative consolidated second quarter under review, however, discounting declined substantially, and the margin improved 2.1 percentage points year on year to 48.6%. The SG&A expense ratio rose 1.9 percentage points year on year to 57.3% due to the decline in sales from June onward and other factors.」
The gross profit margin improved to 48.6% as discounting declined, while the SG&A expense ratio rose 1.9 percentage points year on year to 57.3% due to the decline in sales from June onward and other factors. - FY2022-Q1MitigatedAnnual report
「The SG&A expense ratio fell 2.4 percentage points year on year to 58.0% as net sales increased.」
As net sales increased, the SG&A expense ratio fell 2.4 percentage points year on year to 58.0%. Although the level remained high, it improved from the same period a year earlier. - FY2021WorsenedAnnual report
「The company worked to review and reduce various expenses, including rent and personnel costs, but the SG&A expense ratio rose 9.1 percentage points from the previous fiscal year to 52.5% due to the substantial decline in net sales.」
Although the company reduced expenses including rent and personnel costs, the SG&A expense ratio rose to 52.5% due to the substantial decline in net sales. - FY2021-Q3MitigatedAnnual report
「Gross profit margin fell 1.1 percentage points year on year to 47.0% as the company offered discounts mainly on seasonal products, private-label bags and imported bags to address lost sales opportunities from the prolonged temporary store closures and stimulate consumer spending. The SG&A expense ratio rose 10.4 percentage points year on year to 53.4% due to the substantial decline in net sales.」
The SG&A expense ratio rose 10.4 percentage points year on year to 53.4%, but both the increase and the level were lower than in the cumulative previous quarter, when it rose 13.3 percentage points year on year to 55.4%. Meanwhile, the gross profit margin was 47.0% due to discounting. - FY2021-Q2WorsenedAnnual report
「Gross margin fell 1.7 percentage points year on year to 46.5% because discount sales were conducted mainly on seasonal products, private-label bags and imported bags to offset lost sales opportunities from the prolonged temporary closures and stimulate consumer spending. The selling, general and administrative expense ratio increased 13.3 percentage points to 55.4% due to the substantial decline in sales.」
The substantial decline in sales caused the selling, general and administrative expense ratio to rise 13.3 percentage points year on year to 55.4%. It also increased from 43.2% in the cumulative first quarter. - FY2021-Q1WorsenedAnnual report
「Gross margin fell 1.9 percentage points year on year to 46.6% because discount sales were conducted mainly on seasonal products, private-label bags and imported bags to offset lost sales opportunities from the prolonged temporary closures and stimulate consumer spending. The selling, general and administrative expense ratio increased 17.2 percentage points to 60.4% due to the substantial decline in sales.」
Discount sales lowered gross margin to 46.6%, while the substantial decline in sales caused the selling, general and administrative expense ratio to rise 17.2 percentage points year on year to 60.4%. - FY2020WorsenedAnnual report
「Meanwhile, the selling, general and administrative expense ratio rose as sales declined from the third-quarter consolidated accounting period onward, increasing 1.9 percentage points from the previous fiscal year to 43.4%.」
As sales declined, the retail business's selling, general and administrative expense ratio rose 1.9 percentage points from the previous fiscal year to 43.4%. - FY2020-Q3WorsenedAnnual report
「Gross margin improved by 0.1 percentage point year on year to 48.1% due mainly to improved gross margins on men's bags. Despite efforts to reduce costs, the selling, general and administrative expense ratio increased 0.8 percentage points to 43.0% due to higher advertising and promotion expenses, commissions paid and other costs.」
Gross margin improved, while the selling, general and administrative expense ratio rose from 42.1% in the cumulative previous quarter to 43.0%, an increase of 0.8 percentage points year on year. - FY2020-Q2MitigatedAnnual report
「Gross margin improved by 0.2 percentage points year on year to 48.2% due mainly to improved gross margins on imported bags and wallets. Efforts to reduce costs lowered the selling, general and administrative expense ratio by 0.1 percentage point year on year to 42.1%.」
Cost reductions lowered the selling, general and administrative expense ratio by 0.1 percentage point year on year, improving it from 43.2% in the cumulative previous quarter to 42.1%. Gross margin also improved by 0.2 percentage points. - FY2020-Q1WorsenedAnnual report
「Gross margin improved by 0.2 percentage points year on year to 48.5% due mainly to improved gross margins on imported bags and wallets. Despite efforts to reduce costs, the selling, general and administrative expense ratio increased 0.1 percentage point to 43.2% due to higher advertising and promotion expenses, commissions paid and other costs.」
Despite efforts to reduce costs, the selling, general and administrative expense ratio rose 0.1 percentage point year on year to 43.2%. Gross margin improved by 0.2 percentage points. - FY2019MitigatedAnnual report
「Meanwhile, as a result of efforts to reduce expenses, the selling, general and administrative expense ratio fell 0.1 percentage point from the previous fiscal year to 41.5%.」
Cost reductions lowered the retail business's selling, general and administrative expense ratio from 41.6% in the previous fiscal year to 41.5%. - FY2019-Q2Lower level and narrower increaseAnnual report
「Gross margin fell 0.2 percentage points year on year to 48.0% due mainly to lower gross margins on imported and casual bags, while the selling, general and administrative expense ratio increased 0.4 percentage points to 42.2% as existing-store sales declined.」
The selling, general and administrative expense ratio rose 0.4 percentage points year on year, but fell from 42.3% in the previous quarter, and the year-on-year increase narrowed from 0.7 percentage points. Meanwhile, gross margin fell to 48.0%. - FY2019-Q1WorsenedAnnual report
「Gross margin fell 0.2 percentage points year on year to 48.3% due mainly to lower gross margins on imported and casual bags, while the selling, general and administrative expense ratio increased 0.8 percentage points to 43.1% as existing-store sales declined.」
Gross margin fell to 48.3% due to lower gross margins on products, while the selling, general and administrative expense ratio rose to 43.1%. - FY2018WorsenedAnnual report
「Despite efforts to reduce expenses, the selling, general and administrative expense ratio increased 1.0 percentage point from the previous fiscal year to 41.6% because existing-store sales remained sluggish.」
Despite efforts to reduce expenses, the selling, general and administrative expense ratio rose 1.0 percentage point from the previous fiscal year to 41.6%. - FY2018-Q3WorsenedAnnual report
「Gross margin improved by 0.1 percentage point year on year to 48.3%, but the selling, general and administrative expense ratio also increased by 1.2 percentage points to 42.2%.」
The selling, general and administrative expense ratio rose 1.2 percentage points year on year to 42.2%, also increasing from 41.8% in the cumulative previous quarter. - FY2018-Q2Lower level, while remaining above the year-earlier levelAnnual report
「Gross margin improved by 0.1 percentage point year on year to 48.2%, but the selling, general and administrative expense ratio increased by 0.8 percentage points to 41.8%.」
The selling, general and administrative expense ratio fell from 42.3% in the cumulative first quarter to 41.8%, and the year-on-year increase was 0.8 percentage point. However, it remained above the year-earlier level. - FY2018-Q1WorsenedAnnual report
「Gross margin improved by 0.3 percentage points year on year to 48.5%, but the selling, general and administrative expense ratio also increased by 0.7 percentage points to 42.3%.」
Gross margin improved, while the selling, general and administrative expense ratio rose 0.7 percentage points year on year to 42.3%. - FY2017Narrower increase and lower levelAnnual report
「Despite efforts to reduce expenses, the selling, general and administrative expense ratio increased 1.0 percentage point from the previous fiscal year to 40.6% because existing-store sales remained sluggish.」
The selling, general and administrative expense ratio fell to 40.6% from 41.0% in the cumulative third quarter, and the year-on-year increase narrowed from 1.2 percentage points to 1.0 percentage point. - FY2017-Q3Narrower increaseAnnual report
「Gross margin improved by 0.3 percentage points year on year to 48.2%, but the selling, general and administrative expense ratio also increased by 1.2 percentage points to 41.0%.」
The selling, general and administrative expense ratio was unchanged at 41.0%, while the year-on-year increase narrowed from 1.5 percentage points in the cumulative second quarter to 1.2 percentage points. - FY2017-Q2First statedAnnual report
「Gross margin improved by 0.2 percentage points year on year to 48.1%, but the selling, general and administrative expense ratio also increased by 1.5 percentage points to 41.0%.」
In the retail business, the gross margin improved, while the selling, general and administrative expense ratio rose 1.5 percentage points year on year to 41.0%.