Goldwin’s sales fell by 7.6 percent to ¥90,479 million (€678.0m-$830.5m) in the financial year ended March 31, 2021, while operating profit declined by 15.1 percent to ¥14,838 million (€111.2m-$136.2m), better than a forecast made in February for declines of 10.1 percent and 28.5 percent, respectively. Attributable earnings inched down by 0.3 percent to ¥10,734 million (€80.4m-$98.5m), also topping previous guidance for a 16.4 percent decline.
Besides its own brand, Goldwin has the Japanese brand rights for The North Face, Helly Hansen, Canterbury and other brands. Its total sales of outdoor apparel were marginally higher in the past year at a level of ¥78.1 billion (€590m-$720m), but athletic apparel was off by 45 percent to ¥7.8 billion (€58.5m-$71.6m) and winter-related apparel fell by 27 percent to ¥1.9 billion (€14.2m-$17.4m).
In the final quarter ended March 31, the company booked a net profit of ¥1,498 million (€11.2m-$14.1m), compared with a loss of ¥686 million (€5.1m-$6.3m) in the year-ago period, on 4 percent lower revenues of ¥21.2 billion (€159m-$201m). The gross margin narrowed by 0.8 percentage points to 48.9 percent.
Looking at the six-month period through September, the Japanese group forecasts a jump in sales of 30.9 percent to ¥41,300 million (€309.5m-$379.1m) while operating profit is seen soaring by 122.4 percent to ¥2,750 million (€20.6m-$25.2m), with attributable earnings surging by 193.3 percent to ¥1,830 million (€13.7m-$16.8m).
For the financial year ending March 31, 2022, Goldwin is guiding for sales increasing by 10.5 percent to ¥100 billion (€749.5m-$918.0m), operating profit to fall by 5.7 percent to ¥14 billion (€104.9m-$128.5m) and attributable net profit decreasing by 4.0 percent to ¥10.3 billion (€77.2m-$94.5m).
