Goldwin, which also controls The North Face’s trademark in Japan and has a stake in Woolrich International, has issued its outlook for the full year ending in March 2021. It forecasts that revenues will decline by about 23 percent from the previous year to 75,000 million yen (€624.7m-$688.0m). The Japanese group expects a recovery in the third and fourth quarters that will bring sales to the same level as the comparable quarters of last year, following a 62 percent drop in the first quarter and a 47 percent decrease in the second one.

Net income for the year is expected to be ¥3,350 million (€27.9m-$31.0m), down from ¥10,770 million. All category revenues are seen falling, with Outdoor down by 20 percent to ¥62,000 million (€516.4m-$579.7m), Athletic down by 40 percent to ¥8,600 million (€71.6m-$80.4m), Winter down by 24 percent to ¥2,000 million (€16.6m-$18.7m), and Other apparel down by 22 percent to ¥2,400 million (€20.0m-$22.4m). For the year ended on March 31, 2020 the group saw its total revenues increase by 15.3 percent from the previous year to ¥97,899 million (€815.1m-$915.3m), while net income gained 16.5 percent to ¥10,770 million (€89.7m-$100.7m).