Japanese retailer Adastria's FY21 sales fall 17% to ¥184 bn

16 Apr '21

2 min read

Pic: Adastria/ niko and ...

Adastria Co Limited, a Japan-based retail company, has reported 17.3 per cent sales decline to ¥183.8 billion (Japanese Yen) in its complete fiscal 2021 ended on February 28, 2021, compared to the sales of ¥222.3 billion in the previous fiscal. The net loss attributable to owners of the parent during FY21 was ¥693 million (FY20: net income ¥6.3 billion).

Gross profit for the year slipped to ¥100.1 billion (¥123.3 billion), while selling, general and administrative expenses were ¥99.3 billion (¥110.4 billion). Operating profit fell to ¥766 million (¥12.8 billion), and ordinary profit decreased to ¥2.9 billion (¥12.8 billion). E-commerce sales in Japan grew 23.4 per cent higher during FY21.

The company’s sales in Japan were down 17.4 per cent to ¥173.1 billion as number of customers their stores decreased and retail facilities closed or shortened its operating hours. Whereas sales in Hong Kong fell 24.5 per cent to ¥2.5 billion. However sales in China jumped 165 per cent to ¥1.2 billion due to strong sales at the niko and … Shanghai flagship store. Sales in US dipped 32.2 per cent to ¥3.4 billion.

Sales of Global Work brand during FY21 fell 18.9 per cent to ¥33.8 billion. Niko and… sales slipped 18.5 per cent to ¥26.0 billion, Lowrys Farm sales declined 18.0 per cent to ¥19.4 billion, Studio Clip sales were down 17.3 per cent to ¥18.5 billion.

Fibre2Fashion News Desk (JL)

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