Adastria reports FY20 sales of ¥222 billion

03 Apr '20

2 min read

Pic: Adastria/ Lepsim

Adastria Co Limited, a Japan-based retail company, has reported a marginal 0.1 per cent decrease in its net sales to ¥222.3 billion (Japanese Yen) in full fiscal 2020 that ended on February 29, 2020 compared to sales of ¥222.6 billion in previous year. Net income over the year jumped 63.6 per cent to ¥6.3 billion compared to ¥3.8 billion in prior year.

Operating profit for the year increased 79.2 per cent to ¥12.8 billion compared to ¥7.1 billion in prior year. Gross profit grew 1.6 per cent to ¥123.3 billion (FY19: ¥120.0 billion). However, Selling, general & administrative expenses fell 1.0 per cent in the fiscal to ¥110.4 billion (FY18: ¥112.8 billion).

The company reported that in FY20, their domestic e-commerce business grew 7.6 per cent to ¥43.6 billion. The company in its report also stated that although the launch of an omni-channel service was postponed, activities will continue to enhance e-commerce sites in order to give customers a better experience.

Sales of menswear over the year were ¥33.1 billion (FY19: ¥31.7 billion). Women’s segment sales dropped marginally to ¥146.6 billion (FY19: ¥147.3 billion).

Adastria reported that during the fiscal year 2020 they opened 46 new stores while closed 73 stores in domestic region. In the overseas, the company opened 9 stores while closed 17.

In their 2025 Growth Strategy the company included 4 major strategies: use multiple brands to serve customers throughout their lives; use services and experiences to maximise customer interaction; use resources of regions worldwide to create value jointly; and start new businesses linked to enjoyable and fulfilling lives.

Considering the impact of Covid-19 in the month of March the company reported that 277 stores in Kanto region were closed on March 28-29 because of the government request to refrain from going out. However, e-commerce sales increased reportedly more than 10 per cent year on year (in March month).

Fibre2Fashion News Desk (JL)

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