THE WHAT? Shiseido has reported its results for the first quarter of fiscal 2023. The J-beauty manufacturer saw sales rise 6.6 percent LFL to ¥240 million. Operating profit rose 6.1 percent yoy and EBITDA was up 7.8 percent versus the prior-year period.
THE DETAILS Shiseido, Cle de Peau Beaute, Nars and Drunk Elephant all delivered ‘outstanding’ results, the J-beauty manufacturer said, with the latter reporting a triple-digit rise.
And while China and Travel Retail were weak spots, all other geographic divisions reported growth versus the prior-year period, with all except Japan improving on their equivalent performance pre-pandemic.
THE WHY? Shiseido said that luxury is driving steady growth in Japan, and its Q1 performance was positively impacted by its continued strong performance in Americas and EMEA.
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