Home / Knowledge / News / Apparel/Garments / Dip in sales weighs on Honeys Company's H1 earnings
Dip in sales weighs on Honeys Company's H1 earnings
21
Jan '14
In the backdrop of a subdued global and domestic economic scenario, Japanese women’s apparel manufacturer Honeys Co. Ltd reported a slight dip in its sales revenue in the first half of FY 2013-14.
 
The company which is engaged in the design, sale and manufacture of lady's wear and accessories, witnessed a 0.9 per cent dip in consolidated net profit at 29,777 million yen in the six months ended November 30, 2013 from 30,054 million yen in the same period a year ago.
 
Cooling pace of consumer spending in Japan as rising consumer prices crimp room for additional purchases, and a slowdown in major export markets weighed on the company’s revenue in the first six months of the financial year ending May 31, 2014.
 
Further, bad weather amid typhoons in late summer in Japan also crimped the demand for women’s casualty wear.
 
In its home market, the company witnessed a dip of 5.8 per cent in sales at 24,069 million yen in the six months ended November 30, 2013 from the same period a year ago amid bad weather.
 
In China, sales rose 26.5 per cent at 5,707 million yen in H1 FY 2013-14 from the same period a year ago even as sales competition became severe.
 
However, rising labour costs in China, coupled with a weaker yen which pushed up import costs, weighed on the profitability of the company as consolidated net income slumped by 65.7 per cent to 434 million yen in in the six months ended November 30, 2013 from 1,266 million yen in the year ago period.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search