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Japanese retailer Adastria's Q1 FY22 sales rises 39% to ¥46 bn
01 Jul 21 2 min read
Adastria Co Limited, a Japanese retail company, has reported 39.4 per cent sales growth to ¥46.3 billion (Japanese Yen) in first quarter (Q1) of FY22 ended on May 31, 2021, against ¥33.2 billion in the corresponding quarter of previous fiscal. The company’s net income for the quarter rose to ¥0.2 billion (Q1 FY21: net loss ¥3.6 billion).
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Gross profit was ¥26.3 billion (¥17.6 billion), while selling, general and administrative expenses were ¥25.7 billion (¥22.4 billion). E-commerce sales improved 5.6 per cent to ¥14.2 billion, with Buzzwit’s strong performance which sells merchandise exclusively online. Moreover, the company’s operating profit for Q1 FY22 was ¥0.6 billion (loss: ¥4.7 billion), and ordinary profit was ¥0.9 billion (loss: ¥4.8 billion).
According to the company, its retail facilities temporarily closed or shortened operating hours beginning in April in areas where a state of emergency was declared because of an increase in Covid-19 cases. In 2020, all 1,248 Adastria physical stores in Japan closed for about two weeks beginning on April 25. In 2021, only 345 stores were closed due to the pandemic as of April 25.
The company’s sales in Japan during Q1 FY22 increased 41.2 per cent to ¥43.3 billion, and overseas sales surged 18.4 per cent to 3.0 billion including 196.9 per cent increase in sales in China due to opening of the second niko and … store in Shanghai.
Sales of Global Work brand jumped 58.6 per cent to ¥9.0 billion, while Niko and… sales improved 39.5 per cent to ¥5.9 billion. Moreover, Lowrys Farm sales were ¥4.6 billion, Studio Clip to ¥4.4 billion, Lepsim ¥3.0 billion, Jeanasis ¥2.2 billion, Bayflow ¥2.1 billion, and Rageblue ¥1.2 billion.
Fibre2Fashion News Desk (JL)
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