TOKYO—Shiseido’s full-year results slid as consumer demand for cosmetics deteriorated in its home market of Japan.
Net profit for the year ended March 31 fell 45.4 percent to 19.37 billion yen, or $193.70 million at average exchange rates. That’s slightly lower than the 21 billion yen, or $210 million, estimate given March 31, when the company issued a profit warning.
Sales slid 4.6 percent to 690.26 billion yen, or $6.9 billion, while operating profit for the year fell 21.4 percent to 49.91 billion yen, or $499.10 million. Revenue was in line with March guidance while the operating figure is higher than the previous estimate of 48 billion yen, or $480 million.
For complete coverage, see Friday’s WWD.