Japanese firm Adastria's net sales climb 18% in H1 FY24

03 Oct '23

1 min read

Pic: Adastria

Insights

Japanese clothing retail company Adastria reported significant growth in H1 FY24, with consolidated net sales rising 18 per cent YoY to 132,896 million yen.
Operating and ordinary profits surged by 85.1 per cent and 72.8 per cent, respectively.
The company opened 61 new stores and now operates 1,478 stores globally, including 110 overseas.

Adastria Co, Ltd, a leading Japanese clothing retail company, has reported a consolidated net sales increase of 18 per cent year-on-year (YoY) to reach a total of 132,896 million yen (approximately $887.30 million) for the first half of fiscal 2024 (H1 FY24).

Operating profit, ordinary profit, and net income all experienced significant growth, increasing by 85.1 per cent, 72.8 per cent, and 82.2 per cent respectively. The operating profit for Adastria soared to 10,311 million yen, coupled with an ordinary profit tallying at 10,639 million yen, the company said in a press release.

Net income attributable to the owners of the parent company also witnessed a surge, reaching 7,094 million yen in H1 FY24.

The apparel and sundry goods-related business’ sales were reported at 126,478 million yen, while the segment profit stood at 10,581 million yen.

During the first half of fiscal 2024, the company inaugurated 61 new stores, including 16 located overseas. Conversely, it closed 18 stores, one of which was outside of Turkiye. As a result, the company now operates a total of 1,478 stores globally, of which 110 are based overseas.

Fibre2Fashion News Desk (DP)

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