Descente Ltd reported its sales for the year ended March 31 reached ¥76.0 billion ($819.5 mm), down 1.3% from a year earlier and 2.5 percent below forecast of ¥78.0 billion ($840.8 mm).
The Japanese maker of sportswear, best known in the United States for its snowsports apparel, reported operating income fell 27.6 percent to ¥3.09 billion ($33.3 mm), falling 16.5 percent short of its forecast for the year. Net income reached ¥1.85 billion ($19.9 mm), down 15.9 percent from a year earlier and its forecast, according to numbers published by Reuters.
In addition to its own brand, Descente’s companies and affiliates manufacture and distribute a broad array of global sports apparel brands for cycling, golf, outdoor, racquet, snowsports and volleyball under license for the Asian markets, including China, Hong Kong and Korea. Licensed brands include Cutter & Buck, Lecoq Sportif, Marmot, Munsingwear and Umbro. In May 2008, the company entered a capital and business alliance with Itochu Corporation under which the $25 billion-a-year Japanese conglomerate will acquire up to 25 percent of Descente to help finance its international expansion, particularly in China. Itochu, which has a textile division that supplies Descente, upped its holdings in Descente by 24.6 percent in December.
