Japanese sportswear manufacturer Descente reports steady start in FY21

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Descente Ltd, a Japanese sports clothing and accessories company, has reported 44.5 per cent sales growth to ¥22.5 billion (Japanese Yen) in first quarter (Q1) of FY21 ended on June 30, 2021, compared to the sales of ¥15.5 billion in the same period of previous fiscal. Operating income for the three-month period surged to ¥1.0 billion (Q1 FY20: loss ¥3.1 billion).

 

The company’s full year financial outlook sees 6.3 per cent growth in sales to ¥103.0 billion, while operating income is expected to escalate to ¥4.2 billion.

 

In the first quarter, Japan segment's sales significantly rose to ¥9.7 billion (¥5.0 billion), due to an increase in net sales and a decrease in product returns and discounts. Whereas the sales in South Korean market went up to ¥11.7 billion (¥9.3 billion), mainly driven by Descente brand and outerwear sales. Moreover, sales from China marginally grew to ¥0.9 billion (¥0.8 billion).

 

Categorically, athletic wear and related products contributed 63.6 per cent to the overall sales amounting to ¥14.3 billion as impact of COVID-19 reduced and sporting opportunities increased during Q1. Golf wear sales of ¥6.6 billion contributed 29.5 per cent to the net sales, and outdoor wear sales totalled to ¥1.6 billion.

 

According to the Japanese sportswear firm, sales across its five main brands improved during the reported period: Descente to ¥9.5 billion (¥6.6 billion); Le coq sportif to ¥6.1 billion ($4.4 billion); Munsingwear to ¥2.3 billion (¥1.3 billion); Arena to ¥1.5 billion (¥0.6 billion); and Umbro ¥1.8 billion (¥1.1 billion).

Fibre2Fashion News Desk (JL)

Descente, a Japanese sports clothing and accessories firm, has reported 44.5 per cent sales growth to ¥22.5 billion (Japanese Yen) in first quarter (Q1) of FY21 ended on June 30, 2021, compared to the sales of ¥15.5 billion in the same period of previous fiscal. Operating income for the three-month period surged to ¥1.0 billion (Q1 FY20: loss ¥3.1 billion).

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source https://earn8online.com/index.php/336902/japanese-sportswear-manufacturer-descente-reports-steady-start-in-fy21/