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Japanese apparel retailer Adastria reports first half sales of ¥92 bn
14 Oct 21 2 min read
Adastria Co Limited, a Japanese retail company, has reported a 16.3 per cent sales jump to ¥92.6 billion (Japanese Yen) in the first half (H1) of FY22 ended on August 31, 2021, compared to the sales of ¥79.6 billion in the same period of previous fiscal. Net income for the six-month period improved to ¥0.4 billion (H1 FY21: loss ¥2.4 billion).
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Sales from Japan grew 15.6 per cent YoY to ¥86.6 billion. In the first quarter, sales rebounded strongly as the business environment of physical stores improved, however, in the second quarter sales were marginally lower as the state of emergency and priority measures were extended. E-commerce sales in Japan rose 8.3 per cent attributable to continuous initiatives to attract customers on the Adastria’s e-commerce site.
Moreover, overseas sales surged 26.8 per cent YoY to ¥5.9 billion. Sales from China accelerated 169.3 per cent due to the opening of the second niko and … store in Shanghai, while sales and earnings improved in Hong Kong as well. In the US, wholesale sales as well as sales at physical stores increased as the US economy recovered and this segment returned to profitability in the second quarter, according to the apparel retailer.
Gross profit during the H1 totalled to ¥50.8 billion (¥42.3 billion), and operating profit increased to ¥0.6 billion (loss: ¥4.4 billion).
Sales from Global Work brand grew 18.6 per cent to ¥17.1 billion, while Niko and… sales were up 10.7 per cent to ¥12.5 billion. Furthermore, other brands sales increased: Lowrys Farm ¥9.1 billion, Studio Clip ¥9.4 billion, Lepsim ¥5.6 billion, Jeanasis ¥4.6 billion, Bayflow ¥4.3 billion, and Rageblue ¥2.5 billion.
During the first half, Adastria opened 60 stores (including one overseas) and closed 17 stores (including four overseas).
Fibre2Fashion News Desk (JL)
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