J. Front Retailing (3068) Q1 2026 earnings summary

Executive summary

• Sales revenue rose 9.2% year-over-year to ¥110,802 million, driven by strong SC and Developer Business performance, despite a significant decline in duty-free sales in the Department Store Business.

• Business profit fell 15.4% year-over-year to ¥13,874 million, and profit attributable to owners of parent decreased 7.4% to ¥10,483 million.

• Operating profit was ¥15,990 million, down 0.9% year-over-year.

• The company is executing its Medium-term Business Plan, focusing on strengthening retail businesses, evolving group synergies, and enhancing management foundations.

• Treasury share buyback and issuance of sustainability bonds were notable capital initiatives.

Financial highlights

• Gross sales for the quarter were ¥307,403 million, up 2.6% year-over-year.

• Gross profit declined 1.1% to ¥52,682 million, while selling, general, and administrative expenses increased 5.2% to ¥38,808 million.

• Business profit was 13.8 billion yen, down 15.4% year-over-year; operating profit was 15.9 billion yen, down 0.9%.

• Profit attributable to owners of parent was 10.4 billion yen, down 7.4% year-over-year.

• Basic earnings per share was ¥41.25, down from ¥43.11 a year earlier.

Outlook and guidance

• Full-year sales revenue forecast is ¥459,000 million, up 3.9% year-over-year; business profit is projected at ¥54,000 million (+1.0%), and profit attributable to owners of parent at ¥30,000 million (–27.6%).

• No changes to previously announced earnings forecasts.

• Annual dividend forecast is ¥54.00 per share, up from ¥52.00 in the prior year.

• Companies are focusing on profit improvement measures in a highly uncertain environment.