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Descente Q3 FY20 sales decline 28% to ¥67 bn
22 Feb 21 1 min read
In the third quarter (Q3) FY20, Descente Ltd, a Japanese sports clothing and accessories company reported 28.2 per cent sales decline YoY to ¥66.6 billion (Japanese Yen) compared to the sales of ¥92.8 billion in the same period previous fiscal. Operating income for the quarter ended on December 31, 2020, was ¥2.4 billion (Q3 FY19: ¥1.6 billion).
Ordinary income dropped to ¥1.7 billion (¥2.0 billion). However, profit attributable to the owners of parent during Q3 FY20 jumped to ¥4.8 billion (¥1.7 billion).
Sales of Descente brand slipped to ¥28.5 billion (¥39.3 billion), whereas Le coq sportif sales dropped to ¥18.2 billion ($25.1 billion). Munsingwear sales came down to ¥0.6 billion (¥0.8 billion).
Regionally, sales in Japan fell to ¥31.0 billion (¥40.8 billion), while sales in South Korea came down to ¥29.2 billion (¥42.5 billion). Sales in China were ¥0.4 billion (¥0.5 billion).
In its future outlook, Descente stated that although business conditions have improved during Q3 in Japan, recovery is expected to be delayed due to the re-expansion of Covid-19. Further, sales in South Korea have been slow due to re-expansion of Covid-19 and continued influence of boycotts of Japanese products. Company expects net sales to decrease around ¥96.0 billion in full FY20.
Fibre2Fashion News Desk (JL)
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