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Article Date: February 2022
Word Count: 234

Descente Rebounds from Pandemic Lows in Dec. Quarter

Lapping last year’s big windfall from reorganizing its Descente China Holding JV, net income declined 60% in the fiscal third quarter ended Dec. 31 to ¥2,465 million ($21.7 mm) from ¥6,093 million, on 13% higher sales of ¥26,755 million ($235.4 mm), up from ¥23,741 million. Descente is still feeling the impact from Covid-related shutdowns, but said the effect on store traffic is much reduced from 2020, sending revenues higher in all geographies. Based on the better-than-expected top line, it raised its full year revenue forecast to ¥105,000 million from previous guidance of ¥103,000 million, but maintained earnings guidance at ¥6,200 ... Log in to view full article.


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