×
32 398
Fashion Jobs
NORDSTROM
Loss Prevention Security Ambassador Menlo Park
Permanent · Edison
NORDSTROM
Area Manager - Elizabethtown, PA
Permanent · Elizabethtown
NORDSTROM INC
Loss Prevention Agent Market Street Rack
Permanent · San Francisco
NORDSTROM
Loss Prevention Agent Union Square Rack
Permanent · New York
NORDSTROM INC
Loss Prevention Security Ambassador Market Street Rack
Permanent · San Francisco
NORDSTROM
Loss Prevention Security Ambassador Union Square Rack
Permanent · New York
NORDSTROM INC
Asset Protection Security Ambassador- Hastings Village Rack
Permanent · Pasadena
NORDSTROM INC
Loss Prevention - Security Ambassador 2 - Cedar Rapids, ia
Permanent · Cedar Rapids
NORDSTROM INC
Loss Prevention Security Ambassador Valley Fair
Permanent · San Jose
NORDSTROM INC
Security Ambassador 1, Tempe Marketplace Rack
Permanent · Tempe
NORDSTROM
Loss Prevention Security Ambassador Lincoln Square Rack
Permanent · Bellevue
NORDSTROM INC
Manager Merchandise And Inventory Legacy Village Rack
Permanent · Lyndhurst
NORDSTROM
Operations Manager - Elizabethtown, PA
Permanent · Elizabethtown
NORDSTROM
Loss Prevention Security Ambassador Market Street Rack
Permanent · San Francisco
NORDSTROM INC
Loss Prevention Agent Downtown Seattle
Permanent · Seattle
NORDSTROM INC
Loss Prevention Agent Tampa Rack
Permanent · Tampa
TJ MAXX
70118-lp Detective
Permanent · Columbus
VICTORIA'S SECRET
Brand Operations Manager-Aviation
Permanent · Queensbury
VICTORIA'S SECRET
Senior Manager, Business Strategy & Integration - Victoria's Secret Beauty
Permanent · New York
PINK
Brand Operations Manager-Mission Viejo
Permanent · Mission Viejo
PUMA
Key Account Manager
Permanent · Seattle
FOOT LOCKER
Overnight Operations Manager
Permanent · New York
Published
Feb 10, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shiseido reports 19% drop in sales in 2020, slips into loss

Published
Feb 10, 2021

Japanese cosmetics giant Shiseido announced an 18.6% decrease in its full-year sales on Tuesday, falling into loss as the Covid-19 pandemic took its toll on the company’s operations, especially on its home market.


China was the only market where Shiseido saw sales growth in 2020 - Instagram: @shiseido

 
The beauty group’s net sales for 2020 were 920.9 billion yen ($8.6 billion), down from 1.1 trillion yen in the previous year.
 
The company’s sales fell 29.7% to 303.0 billion yen in Japan, where recovery from the effects of the Covid-19 pandemic has been slow. Shiseido has attempted to respond to changing consumer needs on its home market by launching products such as MAQuillAGE, a mask-proof BB cream, as well as Ihada medicated hand sanitizer and Shiseido Ultimune Power Infusing hand cream.

Annual sales dropped 25.7% to 91.4 billion yen in the Americas region, reflecting the effect of lockdowns and stay-at-home orders, as well as an increase in retailers filing for bankruptcy. E-commerce was a bright spot in the region, led by growth in prestige skincare brand Drunk Elephant, acquired by Shiseido last year.
 
In Europe, the Middle East and Africa (EMEA), sales totaled 94.3 billion yen, decreasing 20.4%, while in Asia Pacific, where sales totaled 59.2 billion yen, the decline was 15.3% year over year.
 
China was the only country in which Shiseido saw growth, with the market posting a 9.0% rise in sales totaling 235.8 billion yen. After a difficult start to the year due to the coronavirus, the company’s sales on the market began to recover from late March and posted a particularly strong fourth quarter, thanks in part to an impressive performance on China’s Singles’ Day.
 
Full-year net loss at the company came to 11.7 billion yen ($109.6 million), down from net income of 73.6 billion yen in the previous year.
 
In the fourth quarter, Shiseido’s net sales totaled 267.2 billion yen, down 6.2% compared to 284.9 billion yen in the same period in the previous year. Net profit for the period was 2.0 billion yen, increasing from 1.1 billion yen in the prior-year period.
 
Looking forward, Shiseido expects to return to profit in fiscal 2021. The company predicts that it will report annual net sales of 1.1 trillion yen, up 19% compared to 2020, with net income increasing 23.2% to 11.5 billion yen.

In January, the Tokyo-based group confirmed that it was in negotiations with CVC to sell the investment fund its personal care business, which includes shampoo, shower gel and skincare brands that are mainly distributed in Asia. According to Bloomberg, the price for the deal could be between 150 and 200 billion yen ($1.45 billion to $1.93 billion).

The negotiations are part of Shiseido's wider strategy to refocus on high-end cosmetics. The group hopes to be the global leader in this segment by 2030. 

Copyright © 2021 FashionNetwork.com All rights reserved.