<\/p>\n
Despite a surge in its first-quarter profit, Shiseido<\/strong> is keeping a cool head…<\/p>\n <\/p>\n <\/p>\n The Japanese cosmetics giant<\/strong> has certainly doubled its profit to 8.7 billion yen<\/strong> (59 million euros)<\/strong> in the first quarter. Its operating profit jumped by +140% to 10.5 billion yen (71.2 million euros). Shiseido explains this performance by “agile cost management” and “the recovery of its sales.”<\/p>\n <\/p>\n But for all that, these quarterly sales have changed moderately, or 2.6% year-on-year<\/strong>, to 240 billion yen (1.6 billion euros). Excluding the effects of exchange rates and business transfers,<\/strong> they were up 7.7%.<\/p>\n <\/p>\n <\/p>\n Geographically, Shiseido’s sales grew well in the Americas, EMEA, and Asia-Pacific regions.<\/strong><\/p>\n <\/p>\n However, Asia’s performance was mixed in its two main destinations. In Japan<\/strong>, its largest market in the world, growth was sustained, thanks to the recovery in the archipelago and the launch of new products.<\/p>\n <\/p>\n On the other hand, Shiseido did not fare well in China<\/strong>, its second-largest market, weighed down by the comeback of covid in January in the Middle Kingdom and “inventory adjustments” in travel retail stores.<\/p>\n <\/p>\n <\/p>\n Rather than dwelling on this relatively good start to the year, Shiseido points to the continuing “uncertainty”<\/strong> in the world, linked to the war in Ukraine and inflation.<\/p>\n <\/p>\nProfit doubled<\/h2>\n
Contrast in Asia<\/h2>\n
Continued uncertainty<\/h2>\n