Mizuno Corporation, a Japanese sportswear company, has reported 32 per cent revenues decline to ¥28.7 billion (Japanese yen) in its first quarter (Q1) for fiscal 2020 that ended on June 30, compared to the revenues of ¥42.2 billion in the same period previous year. Company incurred a net loss of ¥1.1 billion compared to net income of ¥1.3 billion in Q1 FY19.
Mizuno Corporation, a Japanese sportswear company, has reported 32 per cent revenues decline to ¥28.7 billion (Japanese yen) in its first quarter (Q1) for fiscal 2020 that ended on June 30, compared to the revenues of ¥42.2 billion in the same period previous year. Company incurred a net loss of ¥1.1 billion compared to net income of ¥1.3 billion in Q1 FY19.#
Gross margin for the quarter was ¥11.3 billion (Q1 FY19: ¥17.9 million). Selling, general and administrative expenses slipped to ¥13.1 billion (¥16.0 billion). Mizuno’s operating loss for Q1 FY20 was ¥1.8 billion (¥2.0 billion).
Mizuno Corporation, a Japanese sportswear company, has reported 32 per cent revenues decline to ¥28.7 billion (Japanese yen) in its first quarter (Q1) for fiscal 2020 that ended on June 30, compared to the revenues of ¥42.2 billion in the same period previous year. Company incurred a net loss of ¥1.1 billion compared to net income of ¥1.3 billion in Q1 FY19.#
Revenues in Japan during the first quarter fell to ¥17.1 billion (¥28.4 billion). While, in Americas ¥5.5 billion (¥5.7 billion), EMEA ¥2.6 billion (¥3.7 billion) and Asia/ Oceania ¥3.4 billion (¥4.4 billion), every region registered a decline.
Mizuno Corporation, a Japanese sportswear company, has reported 32 per cent revenues decline to ¥28.7 billion (Japanese yen) in its first quarter (Q1) for fiscal 2020 that ended on June 30, compared to the revenues of ¥42.2 billion in the same period previous year. Company incurred a net loss of ¥1.1 billion compared to net income of ¥1.3 billion in Q1 FY19.#
Also, revenues of the all the product segments too decreased during Q1 FY20: footwear ¥8.0 billion (¥12.1 billion), apparel ¥8.4 billion (¥12.9 billion) and equipment ¥7.6 billion (¥10.0 billion).
Fibre2Fashion News Desk (JL)
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