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Global fashion giants report varied economic outcomes by February 2024

Adastria Co, Ltd (TYO: ****)

Japanese fashion company Adastria’s fiscal **** (FY**) ended on February **, ****, the performance of which was reported in April. The consolidated financial results included a **.* per cent year-on-year increase in net sales to ¥***.*** billion (~$*.** billion), an operating profit increase of **.* per cent to ¥**.*** billion (~$*.** billion), an ordinary profit increase of **.* per cent, and a net income attributable to owners of the parent increase of **.* per cent to ¥**,*** million (~$**.** million). Market-wise, sales increased by approximately ** per cent in Mainland China, ** per cent in Hong Kong, and **.* per cent in Taiwan; sales of apparel and sundry goods-related businesses grew by **.* per cent year-on-year in Japan. The sales increase was attributed mainly to a strong business climate, accurate responses to a hot summer, a mild winter, and other weather conditions, the sale of merchandise that reflected prevalent trends, the successful launch of hit products, revisions in prices due to more added value, and marketing and promotional activities that included TV commercials and loyalty programme points.