Onward said that while consumers are still saving, the expectation of economic recovery has led to a more positive and stable mindset. This, the company said, has led to increased sales both in Japan and abroad, particularly in European markets.
Onward left unchanged its guidance for the twelve months ending February 28, 2014. It expects net profit to grow 11 percent to 5 billion yen, or $50.05 million at current exchange rates. The retailer is predicting operating profit will increase 15.3 percent to 12.9 billion yen, or $129.13 million. It is expecting sales growth of 5.7 percent to 273 billion yen, or $2.73 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)