Home / Knowledge / News / Apparel/Garments / Q1FY14 operating profit dips 30% at fashion retailer AOKI
Q1FY14 operating profit dips 30% at fashion retailer AOKI
11
Aug '14
Despite a 5.1% hike in year on year sales, operating profit declined 30.0% at Japan-based AOKI Holdings Inc, a retailer of fashion clothing in the first quarter of year ending March 31, 2015.

Operating profit fell 30.0% to 2,121 million yen, due in part to the falloff in the fashion business following the rush to make purchases prior to the April 2014 consumption tax hike, AOKI Holdings said.

In the quarter under review, sales increased 5.1% year-on-year to 43,870 million yen, while ordinary income decreased 35.4% to 2,135 million yen and net income dropped 12.7% to 1,565 million yen.

Net income per share though rose to 127.70 yen in first quarter of 2014 from 118.26 yen in first quarter of 2013. AOKI conducted a 2-for-1 common stock split on January 1, 2014.

So, AOKI said, net income per share and diluted net income per share have been calculated as if this stock split had taken place at the beginning of the previous fiscal year.

AOKI Holdings said, “Japanese economy continued to recover at a moderate pace despite the negative effect of the April 2014 consumption tax hike in first quarter of the current fiscal year”.

It noted that the economy is benefiting from strong personal consumption, a sound employment situation and other factors.

“However”, it added, “The operating environment in Japan’s fashion industry is uncertain because of changes in life styles, the shrinking market for business suits, concerns about higher costs and other factors.”

Despite, fall in net income; AOKI said it has not revised the earnings forecasts that it released on May 9, 2014.

AOKI continued to strengthen its lineup and marketing of functional suits including "Premium Wash Suits" and "Premium Stretch Suits” and other core products.

In response to the increasing diversity of fashions, AOKI started selling “Ultra Cross Suits” under the Café Soho brand, AOKI revealed.

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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