By Kosaku Narioka

Workman Co. shares rose sharply Monday morning after the Japanese apparel retailer's same-store sales in June rose 14% from a year earlier thanks to strong sales of summer clothes.

The company's shares were recently 9.9% higher at 5,760 yen ($42.60) after rising as much as 10% earlier.

Workman said Friday after market close that sales were strong for summer clothes, such as those equipped with fans, T-shirts and women's apparel, thanks to hotter weather in the latter half of the month. Waterproof shoes and rainwear also sold well, it said.

The company said it opened four new stores in June, bringing the total number of stores to 956 at the end of the month. Including the new stores, June sales rose 20% from a year earlier following a 9.5% increase in May and an 18% rise in April.

In May, Workman had projected that revenue would rise 6.7% to Y124.11 billion ($917.8 million) for the fiscal year that started in April, and that net profit would drop 8.3% to Y16.78 billion.

Shares of peer Fast Retailing Co. were recently down 1.4% and the Nikkei Stock Average was up 0.8%.

Write to Kosaku Narioka at

(END) Dow Jones Newswires

07-03-22 2231ET