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Nishimatsuya Chain shares rise on robust first-half profits and store expansion By Investing.com

by Index Investing News
September 28, 2023
in Markets
Reading Time: 1 min read
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© Reuters.

Japanese retailer Nishimatsuya Chain, renowned for baby clothes, witnessed a 6.16% surge in its shares, reaching 1,670 yen on Thursday. This increase followed a substantial first-half net profit growth to Y4.76 billion ($31.8 million) and a revenue rise to Y88.47 billion, even as the Stock Average was on a downturn.

The company’s performance was largely driven by vigorous sales of spring and summer clothes, baby formula, and diapers. The opening of 33 new stores also contributed significantly to this growth, bringing the total number of outlets to 1,090.

Nishimatsuya Chain further announced plans to augment dividends per share from Y26 to Y27 and buy back Y300 million worth of shares. Looking ahead, the company forecasts a net profit of Y9.28 billion and revenue totaling Y180 billion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



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