Insights
- Descente reported a net sales increase of 4.6 per cent to 90,100 million yen in Q3 FY23 compared to Q3 FY22.
- Gross profit increased by 9 per cent to 54,059 million yen.
- However, operating income fell by 866 million yen, and net income dropped by 1,828 million yen.
- The gross profit rate rose to 60 per cent, but the net income rate declined to 9.3 per cent.
Japanese sports clothing and accessories company Descente Ltd has reported net sales of 90,100 million yen for the third quarter of fiscal 2023 (Q3 FY23), up by 4,001 million yen or approximately 4.6 per cent from 86,099 million yen in Q3 FY22. The company's gross profit also saw an increase, rising from 49,599 million yen in Q3 FY22 to 54,059 million yen in FY23 Q3, marking a growth of 4,460 million yen or around 9 per cent.
Despite the positive growth in sales and gross profit, Descente experienced a slight dip in operating income, which decreased by 866 million yen to 6,434 million yen, down from 7,300 million yen in the same quarter of the previous year, the company said in a press release.
Descente reported a net sales increase of 4.6 per cent to 90,100 million yen in Q3 FY23 compared to Q3 FY22.
Gross profit increased by 9 per cent to 54,059 million yen.
However, operating income fell by 866 million yen, and net income dropped by 1,828 million yen.
The gross profit rate rose to 60 per cent, but the net income rate declined to 9.3 per cent.
The company also reported an increase in ordinary income, which rose by 1,217 million yen to 11,662 million yen, compared to 10,445 million yen in Q3 FY22.
Quarterly net income for Q3 FY23 stood at 8,344 million yen, down by 1,828 million yen from 10,172 million yen in the previous year's quarter. This resulted in a decrease in the net income rate from 11.8 per cent to 9.3 per cent. The gross profit rate improved significantly, from 57.6 per cent in Q3 FY22 to 60 per cent in Q3 FY23.
Fibre2Fashion News Desk (DP)
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