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Onward Q1 Net Drops 8.1%

The Japanese company behind such brands as Jil Sander and Chacott said sales for the March to May period grew 1.7 percent.

TOKYO—Onward Holdings said Friday its first-quarter net profit fell 8.1 percent to 3.53 billion yen, or $34.59 million at average exchange rates for the Mar. 1 to May 31 period.

The Japanese company behind such brands as Jil Sander and Chacott said its sales for the three months rose 1.7 percent to 73.56 billion yen, or $720.89 million.

Onward said it expects its net profit for the year ending Feb. 28 to grow 15.9 percent 5.4 billion yen, or $53.1 million, and sales to increase 3.8 percent to 290.70 billion yen, or $2.86 billion.