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Article Date: November 2019
Word Count: 150

Alpen Swings to Profit in Advance of Tax Increase

The multi-banner Japanese retailer reported comprehensive net income of ¥355 million ($3.3 mm) in the fiscal first quarter ended Sep. 30 against a loss of ¥382 million last year, as sales increased 6% to ¥57,683 million ($537.4 mm) from ¥54,261 million. A consumption tax increase to 10% from 8% on Oct. 1 gave Japanese consumers a sense of urgency in the quarter, and sales were broadly higher, including golf equipment, apparel, and general sporting goods. ... Log in to view full article.


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