19/11/2013

Business news : Japan's Goldwin Inc. Reports Tepid Growth

Goldwin Inc, which holds the rights to license and/or distribute 23 sporting goods brands in Japan and other Asian market, reported profits grew more than twice as fast as sales in the six months ended Sept. 30.

The Japanese company’s brand portfolio includes The North Face, Filson, Icebreaker, Fischer, Speedo, Champion, Danskin, Sales reached ¥24.5 million, up 1.6 percent from the comparable year ago period. Gross profit grew 3.3 percent to ¥10.3 million, or 42.2 percent of revenues, up 70 basis point compared with the first half of fiscal 2013. Operating income rose 30 percent to ¥526 million, while net income rose 4.1 percent to ¥708 million.
 
The company ended the period with merchandise and finished goods valued at ¥10.4 million, up 14.7 percent since March 31, 2013. Work in process declined 2.5 percent to ¥621,000.
 
The company said it  expects net sales for the fiscal year ending March 31, 2014 to reach ¥53 million, up 0.9 percent. Operating income is forecast to rise 1.0 percent to ¥3.2 billion and net income is expected to decline 12.8 percent to ¥2.3 million

By press release through sportsonesource

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