Seasonal concentration of profit in the apparel business
First written in FY2018. 8 of 9 entries say "Materialised", first in FY2019-Q3. Latest entry: 2026-09-28.
Palemo Holdings moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
The whole theme swung hardest in 2024: 22 of 29 companies on the "Worse" side.
21 other companies' latest entry also says "Materialised".
- 2026-09-28MaterialisedMonthly
「秋物の販売は好調となりました。しかしながら、例年残暑で売れていた夏物の売上をカバーするには至らず、既存店前年比は 100％を下回る状況となりました。」
季節の移行と残暑による夏物販売の減少が、既存店売上高前年比97.6％という実績に現れている。 - FY2026-H1MaterialisedAnnual report
「In apparel, the launch of early-summer products was later than usual, while sales of spring products such as lightweight outerwear were strong. Once temperatures rose, sales of summer products such as cut-and-sew tops and trousers progressed steadily.」
The delayed launch of early-summer products and differences in sales performance between spring and summer products resulted in actual fluctuations in product sales and profit levels due to seasonality. - FY2025MaterialisedAnnual report
「Meanwhile, sales struggled in September and February, when the autumn/winter and spring/summer seasons respectively get underway, due to lingering summer heat and cold waves. In addition, consumer preferences for frugality strengthened in response to rising prices, and demand for going out declined following the rebound after the reclassification of COVID-19 as a Category 5 disease in the previous year. As a result, company-wide same-store sales were 98.4% of the previous year.」
Sales struggled because of lingering summer heat and cold waves at the start of the seasons, resulting in annual same-store sales of 98.4% of the previous year. Risks related to seasonal concentration in profit and sales affected actual results. - FY2024-Q3MaterialisedAnnual report
「Temperatures remained higher than usual from spring through summer, expanding sales mainly of summer and high-summer items. After the autumn season began, however, sales of autumn and early-winter products were weak because temperatures remained above previous records, while customer traffic fell significantly as sales of hygiene products and other items that had been in high demand the previous year contracted sharply, resulting in difficult trading conditions.」
While sales of highly seasonal summer and midsummer products expanded, customer numbers declined due to weak sales of autumn and early-winter products and a反動減 in hygiene products and other items, resulting in an actual impact on performance from seasonal fluctuations. - FY2021MaterialisedAnnual report
「Demand for seasonal products related to ceremonies and resorts fell significantly.」
Demand for highly seasonal products, including ceremony- and resort-related items, fell significantly due to requests to refrain from going out and event cancellations related to the infectious disease. - FY2021-Q2MaterialisedAnnual report
「The apparel business was particularly affected, including by a sharp decline in demand for ceremony-related products in early spring and for swimsuits and yukata during the summer season.」
Demand for ceremony-related products, swimwear and yukata fell sharply, resulting in actual seasonal fluctuations in apparel sales and profit. - FY2020-Q2MaterialisedAnnual report
「During the six-month period of the consolidated fiscal year, the apparel business temporarily struggled because of the prolonged rainy season and limited sunshine in July, although」
Seasonal products in the apparel business temporarily struggled because of the prolonged rainy season and insufficient sunshine. The risk of seasonal fluctuations in performance materialized during the quarter. - FY2019-Q3MaterialisedAnnual report
「In addition to weak sales of seasonal products due to the extreme summer heat, the slow decline in temperatures from autumn onward delayed the launch of winter products compared with a typical year. As a result, same-store sales for the company as a whole were limited to 96.7% of the previous year.」
Seasonal products were in fact affected by weak sales due to the extreme summer heat and delayed winter-product launches caused by the slow decline in temperatures, resulting in same-store sales of 96.7% of the previous year. This is cited as an example of the conventional risks associated with seasonality affecting performance. - FY2018First statedAnnual report
「In the core apparel business, the periods for final clearance sales of summer and winter merchandise, when securing sales and profit is difficult, both fall in the second half of the group’s fiscal year, from 21 August to 20 February. As a result, full-year profit levels tend to be concentrated in the first half. Accordingly, if performance fails to grow in the first half, from 21 February to 20 August, this could affect the company’s performance.」
The company has explicitly identified as a new risk the seasonality whereby final clearance sales for summer and winter merchandise are concentrated in the second half, causing full-year profit to be concentrated in the first half.