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The 68-year-old Tokyo-based company reported that sales declined to 183.8 billion yen (around $1.7 billion) for its fiscal year ending February 28, down from 222.3 billion yen ($2 billion) the previous year, Fibre2Fashion writes.
Adastria owns 26 menswear, womenswear and lifestyle brands, including Lowry’s Farm and Global Work; it operates 1,332 stores in Japan and 68 stores internationally.
Though the group’s sales in China increased 165 percent to 1.2 billion yen ($11.1 million), this failed to offset losses dealt to its overall network in the wake of Covid-19. Its problems aren’t over yet: Japan is currently bracing for its fourth wave of infections.