Workman (7564) Q3 2026 earnings summary

Executive summary

• Achieved record-high profit in Q3 for the first time in four years, with both revenue and profit increasing year-over-year.

• Operating revenue for the nine months ended December 31, 2025, rose 15.5% year-over-year to ¥124,303 million, with net income up 23.2% to ¥16,037 million.

• Strong sales of seasonal and recovery wear products, exceeding plan targets.

• Store network expansion and renovations are progressing as planned, with new formats and corporate franchise stores introduced.

• Operating profit increased 22.0% year-over-year to ¥25,220 million, and ordinary profit rose 22.9% to ¥25,847 million.

Financial highlights

• Sales at all chain stores rose 12.0% year-over-year to ¥165,975 million.

• Total operating revenue increased 15.5% to ¥124,303 million.

• Operating profit grew 22.0% to ¥25,220 million; net income up 23.2% to ¥16,037 million.

• EPS increased from 159.52 yen to 196.52 yen year-over-year.

• Net assets rose to ¥148,283 million, with an equity ratio of 82.7%.

Outlook and guidance

• FY ending March 2026 targets: sales at all chain stores ¥201,800 million (+10.2%), total operating revenue ¥155,000 million (+13.2%), operating profit ¥28,200 million (+15.6%), net income ¥19,700 million (+16.6%).

• Plan to open 48 new stores, aiming for a 1,500-store network.

• Focus on expanding Colors stores, reinforcing workwear, and evolving product lines to address climate change.