Goldwin Inc., which sells premium ski and compression wear in the United States and distributes The North Face and other outdoor brands in Asia, reported sales grew 6.6 percent in its fiscal first quarter.
The Japanese company reported sales reached ¥10.7 billion ($99.1 million) in the quarter ended June 30. Operating income improved to a loss of ¥263 million, compared with a loss of ¥528 million in the second quarter of 2015. Profit attributable to Goldwin shareholders reached -¥62 million, or -¥5.46 per share, compared with -¥215 million, or -¥18.77 a year earlier.
Goldwin expects net sales to fall 3.2 percent to ¥25.2 billion in the six months ended September 30 and decline by 0.9 percent to ¥59.2 million for the fiscal year ending March 31, 2017. Operating income is expected to decline 20.8 percent, and profits attributable to shareholders is forecast to fall 13.9 percent to ¥250 million.
In addition to its own Goldwin and C3fit apparel brands, which it sells in the United States, Goldwin owns rights to more than two dozen brands in Japan, South Korea and other parts of Asia, including The North Face, Danskin, Helly Hansen, Icebreaker, Filson, Fischer and Speedo.
