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Felissimo Corp posts 5.1% dip in 9M FY14 sales
Jan '14
Amidst a drop in sales of clothing items, Japanese mail order company, Felissimo Corporation witnessed a slight dip in sales revenue in the nine months ended November 30, 2013.
The company, which is engaged in the mail order sale of clothing including women’s wear and kids wear and accessories among other products, along with manufacture, delivery and processing of apparels, posted a 5.1 per cent decline in consolidated sales at 29,986 million yen in the first nine months of the fiscal year ending February 28, 2014 from 31,606 million yen in the same period a year ago.
Sales from the company’s clothing and fashion accessories segment fell to 22,244 million yen in 9M FY 2013-14 from 22,944 million yen in the same period a year ago. The company’s major fashion catalogues include haco, IEDIT, Live In comfort, Sunny clouds, etc.
The company’s clothing and fashion accessories segment contributed 74.2 per cent of Felissimo Corporation’s total sales in 9M FY 2013-14, up from 72.6 per cent in the same period a year ago.
Subdued personal spending in Japan weighed on the company’s revenue last quarter while a challenging global economic outlook may also weigh on exports, going forward.
The company swung to a consolidated net loss of 334 million yen in the nine months ended November 30, 2013, compared to a consolidated net profit of 67 million yen in the same period a year ago amid a fall in sales revenue while input costs remained elevated due to a weaker yen which pushed up import prices.

Fibre2fashion News Desk - India

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