JAPAN: Onward To Post Huge Profit Leap - Paper
Japan's largest manufacturer of apparel, Onward Kashimaya Co Ltd, will post a 40 per cent leap in parent operating profit this year to 16.2 billion yen ($121 million), a newspaper reported on Tuesday.
According to the Nihon Keizai Shimbun, that figure will be 8.7 per cent above the company's forecast of 167bn yen and is thanks to an expected five per cent increase in year-on-year sales of its womenswear ranges to 170bn yen.
The paper added that the apparel giant, famous for its "Onward" brand, has increased its total of directly managed retail outlets to 240 from 170 which in turn have improved its operating profit margin.
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