Japanese firm Descente's net sales soar 4.9% in Q2 FY23

07 Nov '23

1 min read

Pic: Descente

Insights

In the second quarter of fiscal 2023, Descente saw a 4.9 per cent increase in net sales but faced a 15.2 per cent decline in operating income.
The company reported an 18.8 per cent rise in ordinary income and a 10.5 per cent increase in net income attributable to owners.
Earnings per share improved to 75.11 yen, up from 68 yen in the previous year's quarter.

Japanese sports clothing and accessories company Descente Ltd has reported a net sales increase of 4.9 per cent year-on-year (YoY) in the second quarter of fiscal 2023 (Q2 FY23), reaching 59,985 million yen (approximately $398.72 million), up from 57,210 million yen in the same quarter of the previous fiscal, which had seen a 14.6 per cent growth.

However, operating income tells a different story, having fallen by 15.2 per cent to 4,151 million yen, a stark contrast to the significant 80.4 per cent increase witnessed in Q2 FY22, Descente said in a press release.

In terms of ordinary income, the company saw a healthy increase of 18.8 per cent to 8,007 million yen, up from 6,740 million yen, which itself had surged by 68.3 per cent the previous year.

Descente’s quarterly net income attributable to the owners of the parent in Q2 of FY23 grew by 10.5 per cent to 5,672 million yen. This growth rate is more moderate compared to the remarkable 106.3 per cent increase in Q2 of FY22.

Earnings per share for the quarter also reflected positive movement, with net income per share reaching 75.11 yen, a notable increase from 68.00 yen in the second quarter of the previous fiscal.

Fibre2Fashion News Desk (DP)

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