Shiseido posts higher sales for first three quarters 2013
For the first nine months of 2013 (April to December), Shiseido announced it had generated 3.8 billion euros (535.4 billion yen) in sales, an increase of 10.4%. The Japanese cosmetic group reported its operating income has meanwhile tripled to 242 million euros.
The results were partly due to the yen's depreciation, which offset international sales to almost flat growth in local currency. Shiseido's international business, which now represents 51.7% of total sales, stood at 2 billion euros, an increase of 22.7% in yen and 0.3% in local currency terms. And although sales in China are falling, the Shiseido and Nars brands are performing strongly, just like the fragrance sector in Europe. In the first nine months, total sales for Europe were at 500 million euros, up 27.6% (2.3% in local currency).
However, domestic sales for the group fell slightly by 0.4% to 1.8 billion euros. For fiscal year 2013, Shiseido forecasts it sales to reach 5.4 billion euros, up 1.4%.
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