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Article Date: July 2020
Word Count: 143

Himaraya Swings to Loss on Lower Sales as Covid-19 Hit Japan

Net loss at the Japanese retailer was ¥1,095 million ($10.1 mm) in the nine months ended May 31 against a profit of ¥300 million last year, on 19% lower revenues of ¥41,048 million ($376.8 mm) down from ¥50,610 million, including a 36% plunge in implied sales for FQ3. Gross margin contracted 60 basis points to 33.0% as leftover winter sports inventory was clearanced, while SG&A deleveraged 410 b.p. on the lower ... Log in to view full article.


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