(Filed Under Financial and General Interest News). Wacoal Holdings Corp. of Japan recorded a 9.9% increase in sales and a 14.6% in net income for the six months ending September 30, 2015.
Meanwhile, “overall sales” of Wacoal products in the U.S. “on a local currency basis remained unchanged from (but overall sales on a yen converted basis largely exceeded) the results for the corresponding period of the previous fiscal year. In terms of profit, operating income on a local currency basis fell significantly below (but operating income on a yen converted basis exceeded) the results for the corresponding period of the previous fiscal year due to an increase in selling, general and administrative expenses which resulted from recording our 30th anniversary promotion expenses.” Wacoal, a public company based in Japan, has been selling in this country for three decades and schedules elaborate celebrations at the end of each.
For the six months, Wacoal reported a profit of 7,482 million yen (approximately $62 million) on sales of 105,715 million yen (approximately $876.4 million) compared to 6,530 million yen on sales of 96,190 million yen for the six months ended September 30, 2014.
“With respect to Wacoal Europe, sales in the United Kingdom performed well due to the expansion of our Wacoal brand portfolio there, and sales in the United States and Australia also expanded,” reported Wacoal. “However, sales in the Eurozone area showed a substantial decrease due to slow consumer spending affected by the unstable political and economic situation in Europe, particularly in France. As a result, total sales on a local currency basis fell below the results for the previous fiscal year, but sales on a yen converted basis exceeded the results for the previous fiscal year. With regard to profit, operating income largely fell below the results for the corresponding period of the previous fiscal year as a result of decreased sales and an increase in purchase costs due to the appreciation of the dollar.”
During the six months, Wacoal reported 17.7% of its sales were generated in Europe and North America, up from 17.3% during the same period last year. Foundations and lingerie made up 74.5% of its total sales, nightwear represented 4.5%, children’s underwear 0.7% and hosiery 1.1%. Outerwear and sportswear represented 10.3% of total sales.
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