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A tough year for beauty and skin care marketer.
February 1, 2011
By: TOM BRANNA
Shiseido’s nine-month net profit dropped 62% and chopped its full-year forecasts, according to reports. The company attributed the drop to costs related to the acquisition of Bare Escentuals and other items linked to accounting procedure and tax payments, said reports. However, sales rose 4.8% to $5.62 billion. Operating profit for the nine months dropped 22.3% to $292.65 million. The company cut its forecasts for the year ending March 31, stating that it expects the Japanese market to continue to be difficult.
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