TOKYO — Isetan Mitsukoshi Holdings said Friday its first-quarter net profit grew 11.4 percent on increased sales, lower expenses and a strategic shift to new retail formats, including smaller specialty stores.
The company's net profit for the three months ended June 30 totaled 6.76 billion yen, or $68.48 million at average exchange rates for the period.
Operating profit rose 53.2 percent to 10.58 billion yen, or $107.15 million. Isetan Mitsukoshi attributed this high growth the reduced expenses and restructuring within the company.
Sales at Japan's largest department store operator increased 4.4 percent to 303.19 billion yen, or $3.07 billion.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)