By  on July 31, 2013

TOKYO — Shiseido swung back into the black in the first quarter.

The Japanese beauty giant said Wednesday it posted a net profit of 2.66 billion yen, or $26.87 million at average exchange rates, for the three months ended June 30. That compares with a year-earlier loss of 1.27 billion yen, or $15.9 million.

Sales for the period spiked 8.6 percent to 162.36 billion yen, or $1.64 billion.

The company said its operating income for the three months totaled 6.88 billion yen, or $69.64 million. This compares to an operating loss of 3.02 billion yen, or $37.7 million, last year.

Shiseido attributed the turnaround in profitability to several factors.

RELATED CONTENT: WWD Earnings Tracker >>

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus