Japan's Goldwin reports 6.3% surge in sales in Q1 FY24

Goldwin Inc, a leading Japanese company in the sports and outdoor wear sector, has reported an increase in net sales by 6.3 per cent year-on-year (YoY) to 24.601 billion yen (approximately $170 million) for the first quarter of fiscal 2024 (Q1 FY24), up from 23.150 billion yen in the same period last year.

Despite the growth in net sales, Goldwin experienced a decline in operating profit, which fell by 18.8 per cent year-on-year to 1.839 billion yen, compared to 2.263 billion yen in Q1 FY23. Ordinary profit saw a modest increase of 2.1 per cent, reaching 4.258 billion yen, up from 4.172 billion yen in the previous year, the company said in a press release.

The profit attributable to owners of the parent company rose by 9.4 per cent to 3.66 billion yen, compared to 3.347 billion yen in the same quarter last year. Comprehensive income for the three months ended June 30, 2024, was 4.75 billion yen, a significant 45.4 per cent increase from 3.267 billion yen in the same period of the previous year. Earnings per share for the quarter stood at 81.47 yen, up from 74.30 yen in Q1 FY23.

Fibre2Fashion News Desk (DP)