Company Earnings Announcement
Aeon Co. reported Friday that net profit plunged 91.4 percent to JPY2.02 billion (USD18.4 million) in the first half of the business year as weak consumer spending after the April consumption tax hike hurt the giant retailer’s mainstay supermarket business.
Nike Inc.'s sales are bulking up, as demand for its shoes and clothes grows even among people who have no intention of wearing them to a gym. The company's sales jumped 15 percent to USD8 billion in the three months that ended 31 August, sending its profit up 23 percent to USD962 million.
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Women may finally be favouring comfort over fashion, if sales of US footwear brand Skechers are any guide.
Skechers co-founder and president Michael Greenberg says sales of the company's impact-absorbent walking, running and casual shoes have risen by more than 35 percent in Australia in the June quarter, mirroring strong double-digit growth in its US and international operations.
Line Corp., operator of Japan's largest mobile messaging service, says its shopping mall application could become its biggest source of revenue, eclipsing sales from games and character stickers.
The Tokyo-based company, owned by South Korea's Naver Corp., started the Line Mall app in December. It lets users buy and sell secondhand clothes and new products recommended by friends, Takeshi Shimamura, head of commerce and media, said in a recent interview.
Prada Group said on Friday its net profit for the six months ended July 2014 amounted to EUR244.8 million (USD314.9 million), down from EUR308.2 million (USD395.3 million) a year earlier. Second-quarter net profit was EUR139.5 million (USD178.9 million), according to Reuters’ calculations, lagging analysts’ average forecast of EUR172.7 million (USD221.5 million). That compared with net profit of EUR170.1 million (USD218.2 million) a year earlier and EUR105.3 million (USD135 million) in the previous quarter.
OrotonGroup has emerged as a star performer among Australia's struggling retailers thanks to a solid rise in sales of its luxury handbags and accessories.
The upmarket retailer has lifted its annual profit 16 percent on the back of strong revenue growth.
Aiding the result was an 8 percent rise in like-for-like sales for the group's core Oroton handbag business, which had suffered a dip last year.
Swedish furniture giant Ikea reported growth in annual sales on Tuesday, boosted mainly by improved performance in China and a recovery in Europe.
Ikea Group, a leader internationally in inexpensive, stylish kit furniture, reported a 5.7 percent increase in revenue to EUR28.7 billion (USD37.12b) for the year to the end of August. In the same period last year revenue grew by 3.2 percent.
Target's sales and profits have been in sharp decline since 2010. Once taking in annual sales of nearly AUD4 billion (USD3.75b), in fiscal 2014 that had been withered away to just AUD3.5 billion. Intense competition, a poor trading environment and hard choices made by Machin in his first year have smashed profitability. In 2010 pretax profit was standing at AUD381 million, but that is now sitting at AUD86 million – representing a stunning 77 percent contraction in earnings over four years.
Upscale jeweller Tiffany & Co raised its full-year profit forecast for a second time following a better-than-expected rise in quarterly profit, driven by strong sales in Asia and the Americas.
Sales in the Asia-Pacific region, excluding Japan, rose 13 percent in the second quarter ended on 31 July, followed by the 10 percent increase in its biggest market – the Americas. Same-store sales increased 8 percent in the Americas and 7 percent in Asia-Pacific. Total same-store sales rose 3 percent.
China's online retailer of beauty products Jumei International Holding Limited recently announced total net revenues were USD154.4 million in the second quarter of 2014, an increase of 41.9 percent from USD108.8 million in the second quarter of 2013.
It said the increase was primarily attributable to the increase in the number of active customers and total orders. The number of active customers increased by 42.9 percent to approximately 5 million from approximately 3.5 million in the same period of 2013.