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Monday, August 15, 2011

Isetan Mitsukoshi has a strong Q1

Off to a strong start for the first quarter of the fiscal year, Isetan Mitsukoshi posted 5 billion yen in operating profits for the first quarter ending 30 June, an over 50% increase from this time last year. Total operation profits for Q1 were almost 17 billion yen compared to a 795 million yen loss in Q1 2010.

With sales rising 0.2% for the quarter Isetan Mitsukoshi reported almost 290 billion yen in sales, and is optimistic for the year ending 31 March 2012 revising their forecast to 33 billion yen in net profits, 16 billion yen in operating profits and 1.22 trillion yen in sales – a drop of 0.4%.

With the current fluctuations in the economy can Isetan Mitsukoshi also have a strong showing for Q2?

Information Isetan Mitsukoshi Holdings & WWD

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