Shiseido reports Q3 net sales growth of 13 percent; driven by Americas, EMEA and travel retail

Shiseido reports Q3 net sales growth of 13 percent; driven by Americas, EMEA and travel retail

THE WHAT? Shiseido has reported a Q3 net sales rise of 13 percent, with global growth driven by Americas, EMEA and travel retail offsetting challenges in Japan and China. 

THE DETAILS Operating profit was up ¥17.3 bn YOY to ¥26.3 bn, with the Japanese beauty giant having been speeding up investments in line with market recovery, while ‘solidifying foundation for profit through cost management and fixed cost reductions.’ 

There was continued growth in e-commerce, mainly in prestige, while skin beauty brands drove growth and were up 11 percent YOY. 

Travel retail was up 24 percent versus 2020.

THE WHY? Shiseido’s boost in travel retail and other geographical areas have offset the ‘depressed’ market of Japan, which is said to be affected by COVID-19 various and an ‘extended state of emergency.’

The company said, “The overall recovery is behind expectations, albeit bottomed out in August. Skincare growth decelerated; base and color make-up shrinking.”

Shiseido has revised its FY outlook to net sales down 2 percent vs the previous outlook, operating profit up 19 percent and like-for-like net profit, excluding structural reform expenses, +¥11.0 bn.

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