Worth reading
54Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
2271
Millions of yen (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending February 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥80,318 million+103.7%
Operating profit¥7,875 million+140.5%
Ordinary income¥8,047 million+148.4%
Net income¥3,908 million+89.4%
Selling, general and administrative expenses¥38,598 million
Gross Profit Margin
Rate57.9%
Year-on-year change (points)+1.3 percentage points
Operating profit margin
Rate9.8%
Results for the three months of the current quarter
Net Sales
¥80,318 million
Gross profit
¥46,474 million
Operating profit
¥7,875 million
Ordinary income
¥8,047 million
Net income
¥3,908 million
EBITDA
¥10,702 million
Full-year earnings forecast
Net Sales
¥314,000 million
Gross profit
¥172,850 million
Operating profit
¥17,200 million
Ordinary income
¥17,200 million
Net income
¥10,500 million
EBITDA
¥27,880 million
Gross Profit Margin
55 %
Operating profit margin
5.5 %
ROE
12.4 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue achieved the forecast, gross margin fell short, and operating profit increased by more than plannedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Advertising expenses
Year-on-year change in amount¥-550 million
ReasonThe anniversary effect of the flagship store opening in the prior year and more efficient advertising
Personnel Expenses
Year-on-year change in amount¥520 million
ReasonContinued improvements in employee compensation
Equipment costs
Year-on-year change in amount¥480 million
ReasonSales growth
Other SG&A expenses
Year-on-year change in amount¥-80 million
ReasonIncluding the withdrawal from the US market
Special awards for distinguished service
¥1,200 million
Impairment losses on stores
¥70 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Carefully factoring in the foreign-exchange environment and rising costs expected in the second half (figures are Not disclosed)New initiatives
- M&A of a new group company targeting Generation Z
- Acquisition of 68% of the shares of 株式会社シックスティーパーセント
- Launch of a reciprocal exchange service between and ST and JAL miles
- Issuance of new and ST CARD cards through a partnership with ポケットカード社
- Television commercial broadcasts and the and ST WEEK campaign
Key KPIsA metric the company considers important as a management benchmark.
- and ST GMV131 Hundreds of millions of yenYear on year against the same period last year+111.8%
- Total and ST members2,220 10,000 peopleYear on year against the same period last year+500,000 from the end of the previous fiscal year
- Active members810 10,000 peopleYear on year against the same period last year+300,000 from the end of the previous fiscal year
- Shops outside the Group74 shopsYear on year against the same period last year+41 shops
- New members acquired107 % year on yearYear on year against the same period last year107.0%
- Domestic EC ratio26.9 %
- Own EC ratio14 %
Segment results
New Adastria + and ST + HD
Net Sales
¥64,932 million+105.6%
Operating profit
¥6,742 million+145.8%
Domestic Group companies
Net Sales
¥6,915 million+103.7%
Operating profit
¥724 million+101.6%
Overseas Group companies
Net Sales
¥5,678 million+87.4%
Operating profit
¥277 million+163.4%
ZETTON
Net Sales
¥3,886 million+101.6%
Operating profit
¥57 million+97.0%
Platform Business
Net Sales
¥3,500 million
Global Business
Net Sales
¥5,600 million
Brand retail business
Net Sales
¥74,500 million
Financial targets
ROE
Full-year forecast12.4 %
Number of stores and locations
Total consolidated stores at period-end1,694
Stores opened during the period26
Stores closed during the period6
Total domestic stores at period-end1,462
Total overseas stores at period-end158
Zetton stores at period-end74
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending February 2027 |
| Net Sales | ¥80,318 million (YoY +103.7%) |
| Operating profit | ¥7,875 million (YoY +140.5%) |
| Ordinary income | ¥8,047 million (YoY +148.4%) |
| Net income | ¥3,908 million (YoY +89.4%) |
| Gross Profit Margin | Rate 57.9% / Year-on-year change (points) +1.3 percentage points |
| Operating profit margin | Rate 9.8% / Year-on-year change (points) Not disclosed |
| Selling, general and administrative expenses | ¥38,598 million |
| Results for the three months of the current quarter | Net Sales ¥80,318 million / Gross profit ¥46,474 million / Operating profit ¥7,875 million / Ordinary income ¥8,047 million / Net income ¥3,908 million / EBITDA ¥10,702 million |
| Full-year earnings forecast | Net Sales ¥314,000 million / Gross profit ¥172,850 million / Operating profit ¥17,200 million / Ordinary income ¥17,200 million / Net income ¥10,500 million / EBITDA ¥27,880 million / Gross Profit Margin 55 % / Operating profit margin 5.5 % / ROE 12.4 % |
| Self-assessment against the plan | Revenue achieved the forecast, gross margin fell short, and operating profit increased by more than planned |
| Segment results | New Adastria + and ST + HD Net Sales ¥64,932 million (YoY +105.6%) / Operating profit ¥6,742 million (YoY +145.8%) / Domestic Group companies Net Sales ¥6,915 million (YoY +103.7%) / Operating profit ¥724 million (YoY +101.6%) / Overseas Group companies Net Sales ¥5,678 million (YoY +87.4%) / Operating profit ¥277 million (YoY +163.4%) / ZETTON Net Sales ¥3,886 million (YoY +101.6%) / Operating profit ¥57 million (YoY +97.0%) / Platform Business Net Sales ¥3,500 million / Global Business Net Sales ¥5,600 million / Brand retail business Net Sales ¥74,500 million |
| Breakdown of Factors Affecting the Change | Advertising expenses Year-on-year change in amount ¥-550 million / Reason The anniversary effect of the flagship store opening in the prior year and more efficient advertising / Personnel Expenses Year-on-year change in amount ¥520 million / Reason Continued improvements in employee compensation / Equipment costs Year-on-year change in amount ¥480 million / Reason Sales growth / Other SG&A expenses Year-on-year change in amount ¥-80 million / Reason Including the withdrawal from the US market / Special awards for distinguished service ¥1,200 million / Impairment losses on stores ¥70 million |
| Key KPIs | Indicator name and ST GMV / Value 131 Hundreds of millions of yen / Year on year against the same period last year 111.8 Hundreds of millions of yen, Indicator name Total and ST members / Value 2,220 10,000 people / Year on year against the same period last year +500,000 from the end of the previous fiscal year, Indicator name Active members / Value 810 10,000 people / Year on year against the same period last year +300,000 from the end of the previous fiscal year, Indicator name Shops outside the Group / Value 74 shops / Year on year against the same period last year +41 shops, Indicator name New members acquired / Value 107 % year on year / Year on year against the same period last year 107.0%, Indicator name Domestic EC ratio / Value 26.9 % / Year on year against the same period last year Not disclosed, Indicator name Own EC ratio / Value 14 % / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Total consolidated stores at period-end 1,694 / Stores opened during the period 26 / Stores closed during the period 6 / Total domestic stores at period-end 1,462 / Total overseas stores at period-end 158 / Zetton stores at period-end 74 |
| Assumptions Underlying the Business Outlook | Carefully factoring in the foreign-exchange environment and rising costs expected in the second half (figures are Not disclosed) |
| Financial targets | ROE Full-year forecast 12.4 % |
| New initiatives | M&A of a new group company targeting Generation Z, Acquisition of 68% of the shares of 株式会社シックスティーパーセント, Launch of a reciprocal exchange service between and ST and JAL miles, Issuance of new and ST CARD cards through a partnership with ポケットカード社, Television commercial broadcasts and the and ST WEEK campaign |
Items this document does not state (12)
Progress against full-year forecastUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Profit margins improved due to improved markups, tighter discount control through inventory management, more efficient advertising, and increased sales from opening the e-commerce platform to external sellers. The decline in net income was due to one-off expenses, including a ¥1.2 billion special achievement payment and ¥70 million in impairment losses on stores. The full-year forecast was left unchanged after carefully factoring in the foreign-exchange environment and rising costs expected in the second half.
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