Descente Limited, a Japanese sports clothing and accessories company, reported 12.6 per cent decrease in its sales to ¥124.56 billion (Japanese Yen) in fiscal year 2020 ended on March 31, 2020 compared to ¥100.9 billion in previous year. Operating income declined to ¥379 million (FY19: ¥7.9 billion). Ordinary income were ¥456.0 billion (¥8.45 billion).
Descente Limited, a Japanese sports clothing and accessories company, reported 12.6 per cent decrease in its sales to ¥124.56 billion (Japanese Yen) in fiscal year 2020 ended on March 31, 2020 compared to ¥100.9 billion in previous year. Operating income declined to ¥379 million (FY19: ¥7.9 billion). Ordinary income were ¥456.0 billion (¥8.45 billion).#
Sales in Japan were down to ¥56.79 billion due to a slowdown in sales of winter goods due to warm winter, and the spread of Covid-19 infection in March leading to decrease in inbound visitors and other purchases, resulting in a decline in overall sales in Japan, as company stated in their results.
Sales in Asia slipped to ¥64.25 billion during the year. In China, sales of Descente is reportedly growing steadily by equity-method affiliates. In South Korea, sales of Descente and other brands declined significantly due to the impact of boycotts of Japanese products from July 2019.
In Europe and Americas sales dropped to ¥3.51 billion due to the business suspension of Descente North America. However, loss decreased slightly due to the closing of amortisation of goodwill and intangible assets in Inoveight Group in the previous fiscal year.
Sales of athletic wear were ¥79.72 billion during FY20. In athletic category, sales for Descente grew due to the opening of new directly-managed stores in Japan and also for Umbro due to an increase in sales of lifestyle products in South Korea. However, sales of other brands decreased in Japan and overseas resulted overall sales decrease.
Sales of golf wear were ¥33.36 billion with rise in sales of Descente in Japan, but struggled overseas. Outdoor wear sales during FY20 were ¥11.47 billion.
Fibre2Fashion News Desk (JL)
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