Changes to the Contract Structure of the European Production Division and Struggles in Certain Licensing Businesses
First written in FY2018-Q1. 3 of 6 entries say "Restated". Latest entry: FY2019.
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- FY2019WorsenedAnnual report
「The overseas business as a whole posted higher revenue but lower earnings, due to the impact of changes to the terms of contracts for some production businesses in Europe and one-off costs for withdrawing from unprofitable stores.」
In addition to changes to contract terms, one-off costs for withdrawing from unprofitable stores were identified as a specific factor behind lower earnings in the overseas business. - FY2019-Q3RestatedAnnual report
「The overseas business posted higher revenue but lower profit overall, despite progress toward improving its earnings balance, including higher Jil Sander sales following the revamp of the creative division, a recovery in profitability in China, successful promotion using J.PRESS's new flagship store in the United States, and growth in e-commerce sales. This was affected by costs associated with contract changes in some production businesses.」
While the costs of changing contracts in some production businesses continue to be cited as a factor behind lower earnings in the overseas business, the earnings improvement achieved through other measures is also noted. - FY2018WorsenedAnnual report
「Profit declined due to changes in contract structures in European production operations and challenging consumer trends for luxury brands, among other factors.」
In addition to the change in the previous contract structure and challenges in some licensing businesses, difficult consumer trends for luxury brands were identified as factors behind the decline in earnings. - FY2018-Q3RestatedAnnual report
「The overseas business reported higher revenue due to the weaker yen against major currencies including the euro and pound, but lower profit due to changes in contract arrangements in the European production division and difficulties in certain licensing businesses. We continue to pursue measures to stabilize production functions and restore and improve profitability.」
Changes to contract structures in Europe and struggles in certain licensing businesses continue to weigh on profit, while measures to stabilize production functions and restore profitability continue. - FY2018-Q2RestatedAnnual report
「The overseas business reported lower revenue and lower profit in Europe due to changes in contract arrangements in the production division and difficulties in certain licensing businesses, but we continue to pursue measures to stabilize production functions and restore and improve profitability.」
Changes to contract structures in European production operations and struggles in certain licensing businesses continue to be cited as factors behind lower revenue and lower profit. The risk remains present. - FY2018-Q1First statedAnnual report
「The overseas business recorded lower revenue and lower profit due to changes in contract structures in European production operations and struggles in certain licensing businesses.」
Changes to contract structures in the production operations and struggles in certain licensing businesses are identified for the first time as factors behind lower revenue and lower profit in the European business.