Himaraya Profits Tumble on Rising Costs
Net income at the Japanese retailer plummeted 83% to ¥52 million ($0.4 mm) in the fiscal first quarter ended Nov. 30, from ¥298 million last year on revenues that inched down 1% to ¥13,475 million ($93.3 mm) from ¥13,557 million, driven by the rapid depreciation of the yen and higher costs. Outdoor equipment sales were 14% lower at ¥2,218 million, but outdoor apparel demand remained strong. The easing of Covid restrictions in the homeland and overseas ... Log in to view full article.
