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Honeys Holdings (2792) · RiskMaterialised

Sluggish Consumer Spending and Weak Demand for Women’s Clothing

First written in FY2016. 18 of 35 entries say "Restated". Latest entry: 2026-09-29.

35entries
11years
4from disclosures
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How it moved
ProgressHeldSoftenedWorseMaterialisedFY2019-Q1 – FY2021-Q2RestatedFY2024-Q1 – 2026-07-292016: 22017: 320172018: 420182019: 320192020: 420202021: 420212022: 420222023: 320232024: 320242025: 020252026: 52026
Same theme, other companies
Decline in fashion demand due to consumers’ cost-consciousness and cautious purchasing behaviorA theme 14 companies write about · 14 as a headwind · 0 as a tailwind

Honeys Holdings moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).

The whole theme swung hardest in 2025: 5 of 10 companies on the "Worse" side.

3 other companies' latest entry also says "Materialised".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-09-29MaterialisedEarnings

    「物価上昇の影響による節約志向の継続などから、消費者の購買行動は慎重に推移しました。」

    節約志向が継続し、客数が伸び悩んだことで減収となった。
  2. FY2026MaterialisedAnnual report

    「While some recovery was seen in personal consumption, the outlook remained uncertain as the continuing rise in prices, driven by high energy and raw material prices and the weaker yen, also affected consumer sentiment.」

    It is explicitly stated that rising prices and a stronger inclination to economize affected consumer sentiment and customer numbers, weighing on personal consumption and demand for women's apparel.
  3. FY2024RestatedAnnual report

    「Although employment and income conditions showed signs of improvement, personal consumption remained sluggish as higher prices, particularly for food, prompted households to become more inclined to economize, weighing on consumption.」

    While indicating improvement in employment and income conditions, it again identifies a stronger inclination to economize due to high prices and sluggish personal consumption as factors weighing on demand for women's apparel.
  4. FY2024-Q3RestatedAnnual report

    「Although employment and income conditions showed signs of improvement, personal consumption remained sluggish as higher prices, particularly for food, prompted households to become more inclined to economize, weighing on consumption. The women's specialty apparel retail industry continued to face a challenging operating environment because of higher procurement costs resulting from higher raw material prices and the ongoing trend of yen depreciation, as well as weather-related factors.」

    It continues to describe the challenging environment in the women's apparel market, including sluggish personal consumption, a stronger inclination to economize due to high prices, and higher procurement costs resulting from higher raw material prices and the yen's depreciation.
  5. FY2024-Q2RestatedAnnual report

    「Although personal consumption was recovering, continued high resource prices and the yen's depreciation caused prices, particularly for food, to rise, prompting households to become more inclined to economize and weighing on consumption. The women's specialty apparel retail industry continued to face a challenging operating environment because of higher procurement costs resulting from rising raw material prices and the ongoing trend of yen depreciation.」

    While personal consumption showed signs of recovery, rising prices and higher procurement costs due to higher raw material prices and the yen's depreciation continued to make conditions in the women's apparel market challenging.
  6. FY2024-Q1RestatedAnnual report

    「The women's specialty apparel retail industry continued to face a challenging operating environment because of higher procurement costs resulting from rising raw material prices and foreign exchange movements.」

    While the impact of infection-related activity restrictions diminished, higher procurement costs due to rising raw material prices and foreign exchange movements continued to make conditions in the women's apparel market challenging.
  7. FY2023ReframedAnnual report

    「Although the impact of activity restrictions related to the infection had eased, procurement costs rose because of higher raw material prices and foreign exchange movements, and the challenging operating environment continued.」

    While the impact of infection-related activity restrictions and demand had eased, rising procurement costs due to higher raw material prices and foreign exchange movements have emerged as the main factors behind the challenging environment.
  8. FY2023-Q2RestatedAnnual report

    「Although the impact of the infection had eased, with no remaining activity restrictions related to it, procurement costs continued to rise because of higher raw material prices and the yen's depreciation, resulting in a continued challenging operating environment for the women's specialty apparel retail industry.」

    While the impact of infection-related activity restrictions eased, higher procurement costs due to rising raw material prices and the yen's depreciation continued to make conditions in the women's apparel market challenging.
  9. FY2023-Q1ReframedAnnual report

    「Although there were no longer any activity restrictions related to the infection and its impact was smaller than before, procurement costs continued to rise in the women's specialty apparel retail industry, which our group operates in, because of higher resource prices, the yen's depreciation and other foreign exchange factors, resulting in a continued challenging operating environment.」

    While the impact of infection-related activity restrictions was smaller than before, it highlights rising procurement costs driven by higher resource prices and the yen's depreciation as new major factors.
  10. FY2022RestatedAnnual report

    「The women's specialty apparel retail industry was affected by activity restrictions related to the infection situation, while procurement costs rose because of higher raw material and energy prices, and sharp foreign exchange movements also contributed to a continued challenging operating environment.」

    It again confirms the challenging environment in the women's apparel market, as activity restrictions related to the infection were compounded by higher procurement costs and foreign exchange movements.
  11. FY2022-Q3RestatedAnnual report

    「The women's specialty apparel retail industry was also affected by activity restrictions, including requests to refrain from going out, in response to the infection situation, while procurement costs rose for raw materials and ocean freight, resulting in a continued challenging operating environment.」

    In addition to activity restrictions related to the infection, rising procurement costs have contributed to the continued challenging environment for the women's specialty apparel retail industry.
  12. FY2022-Q2RestatedAnnual report

    「The women's specialty apparel retail industry likewise continued to face a challenging operating environment, as the prolonged impact of the infection was compounded by restrictions on activity, including requests to refrain from going out, and the establishment of telework, which brought changes in lifestyles.」

    It explains that the prolonged infection, activity restrictions and lifestyle changes resulting from the establishment of telework affected demand for women's apparel, and that the challenging environment has continued.
  13. FY2022-Q1RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continues to face a difficult environment due to the prolonged COVID-19 pandemic, with shortened operating hours and restrictions on activities such as requests to refrain from going out.」

    The disclosure explains that the difficult environment for demand for women's clothing has continued due to the prolonged COVID-19 pandemic and restrictions on activities.
  14. FY2021MaterialisedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs was among the industries most heavily affected by COVID-19, along with the food service and travel industries. Although a temporary recovery was seen in June after the lifting of the state of emergency, the resurgence of infections and unsettled weather, followed by two further states of emergency, significantly affected store traffic. In addition, stores were forced to close or shorten their operating hours at commercial facilities, and conditions remained generally weak overall.」

    The disclosure explains that the resurgence of infections, unsettled weather, two states of emergency, and the closure or shortened operating hours of commercial facilities actually affected demand for women's clothing and store traffic.
  15. FY2021-Q3RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs was among the industries most heavily affected by COVID-19, along with the food service and travel industries. Although there was a temporary recovery in June after the lifting of the state of emergency, conditions remained generally weak due to the resurgence of infections and unsettled weather.」

    The disclosure explains that demand for women's clothing remained generally weak after a temporary recovery due to the resurgence of infections and unsettled weather.
  16. FY2021-Q2MaterialisedAnnual report

    「In the women's specialty apparel retail industry to which the Group belongs, there was a temporary recovery in June after the lifting of the state of emergency, but conditions subsequently remained generally weak due to the resurgence of COVID-19 and unsettled weather.」

    The disclosure explains that the resurgence of infections and unsettled weather actually depressed demand for women's clothing and that the industry remained weak.
  17. FY2021-Q1WorsenedAnnual report

    「In the women's specialty apparel retail industry to which the Group belongs, there was a temporary recovery after the lifting of the state of emergency, but conditions subsequently remained generally weak due to the resurgence of COVID-19, the Reiwa 2 July torrential rains, prolonged rains and low temperatures, and the heatwave in August. Going forward, the industry as a whole is expected to continue facing a difficult operating environment, as concerns about a resurgence of infections are expected to dampen consumer activity.」

    Demand for women's clothing weakened after a temporary recovery due to the resurgence of infections and weather-related factors, and the outlook indicates that a further resurgence of infections will dampen consumer activity going forward.
  18. FY2020WorsenedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs was also significantly affected by COVID-19, facing unprecedented difficulties due to requests to refrain from going out and the closure or shortened operating hours of commercial facilities.」

    The disclosure explains that, in addition to the previous weakness in consumption and weather-related factors, requests to refrain from going out and the closure of commercial facilities due to COVID-19 significantly depressed demand for women's clothing.
  19. FY2020-Q3MaterialisedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs was significantly affected by a record warm winter, as well as a succession of natural disasters. The introduction of the consumption tax increase also affected consumer sentiment, and the difficult operating environment continued.」

    The disclosure explains that the record warm winter, natural disasters and the impact of the consumption tax increase on consumer sentiment actually affected demand for women's clothing and the industry environment during the quarter.
  20. FY2020-Q2MaterialisedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face a difficult operating environment due in part to unsettled weather and typhoons. Demand fluctuations associated with the consumption tax increase and the resulting rush demand and backlash also had an impact.」

    The disclosure explains that unsettled weather, typhoons and demand fluctuations associated with the consumption tax increase actually affected demand for women's clothing and the industry environment during the period.
  21. FY2020-Q1MaterialisedAnnual report

    「In the women's specialty apparel retail industry to which the Group belongs, business remained weak through mid-July due to low temperatures and prolonged rains, but began to recover after the rainy season ended. At the same time, concerns have been raised that the operating environment will remain difficult as the consumption tax increase scheduled for October approaches.」

    In addition to low temperatures and prolonged rains actually weighing on demand for women's clothing, the disclosure cites concerns that the October consumption tax increase will worsen the consumer environment going forward.
  22. FY2019-Q3MaterialisedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions due to natural disasters such as the torrential rains in western Japan and the heatwave in July, as well as a trend toward warmer winters during the peak selling period for winter clothing.」

    The disclosure explains that the torrential rains in western Japan, the heatwave and the trend toward warmer winters actually occurred as factors contributing to the difficult environment for the women's specialty apparel retail industry.
  23. FY2019-Q2MaterialisedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions, as the torrential rains in western Japan, the heatwave in July and the Hokkaido Eastern Iburi earthquake affected customer traffic.」

    The disclosure explains that natural disasters and the heatwave affected customer traffic and that difficult conditions continued in the women's specialty apparel retail industry.
  24. FY2019-Q1MaterialisedAnnual report

    「In the women's specialty apparel retail industry to which the Group belongs, a succession of extreme weather events, including the torrential rains in western Japan in July, weighed on consumer sentiment.」

    The disclosure explains that extreme weather events actually occurred and weighed on consumer sentiment.
  25. FY2018ReframedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions due to the expansion of e-commerce and the resale market, as well as the effects of unstable weather, including prolonged rains and unseasonably low temperatures.」

    In addition to the traditional focus on disposable income and consumer sentiment, the disclosure cites structural industry pressures, including the expansion of e-commerce and the resale market.
  26. FY2018-Q3RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions, as stagnant disposable income strengthened the tendency to restrain consumption, particularly among younger households.」

    The difficult environment for the women's specialty apparel retail industry has continued due to stagnant disposable income and restrained consumption among younger households.
  27. FY2018-Q2RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions amid a sustained decline in propensity to consume, particularly among younger people, as well as record-long summer rains, low temperatures and two typhoons affecting weekends in October.」

    The disclosure continues to cite a decline in propensity to consume, particularly among younger people, and difficult demand for women's clothing due to weather conditions.
  28. FY2017RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face difficult conditions, as consumer sentiment lacked strength due to stagnant disposable income and purchases of seasonal products, which temporarily picked up, failed to last.」

    Stagnant disposable income, weak consumer sentiment and a lack of sustained demand for seasonal products continue to be cited as factors contributing to the difficult business environment.
  29. FY2017-Q3WorsenedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face an extremely difficult operating environment, as a growing desire among consumers to protect their household finances against future increases in the burden of living expenses weighed on consumption.」

    A desire to protect household finances against future burdens weighed on consumption, and the operating environment for the women's specialty apparel retail industry is described as extremely difficult.
  30. FY2017-Q2RestatedAnnual report

    「The women's specialty apparel retail industry to which the Group belongs continued to face a difficult operating environment due to unsettled summer weather and lower disposable income associated with increased social security burdens.」

    Demand for women's clothing has remained difficult against a backdrop of unsettled weather and lower disposable income.
  31. FY2017-Q1RestatedAnnual report

    「Personal consumption also remained lacklustre, reflecting lower disposable income due to increased social security burdens.」

    Weak personal consumption due to lower disposable income has continued.
  32. FY2016MaterialisedAnnual report

    「Personal consumption recovered only slowly due to factors including higher prices, particularly for food, and increased social insurance contributions.」

    The disclosure cites a delayed recovery in personal consumption and weak consumer sentiment as factors behind lower sales in Japan and China.
Moved together

"Weather-Related Fluctuations in Apparel Demand" moved the same way as this thread, in the same document, in 14 of its 35 moves.

1487755★123456
  1. ★This thread
  2. 1Weather-Related Fluctuations in Apparel Demand14×
  3. 2Foreign-exchange movements and derivative valuation losses8×
  4. 3Company-wide revenue decline and decrease in operating profit7×
  5. 4Regional performance gap, with revenue growth in Japan and a sharp decline in China7×
  6. 5Gross Margin Improvement and Expense Reduction5×
  7. 6Uncertainty in overseas economies arising from US-China trade friction and the UK's withdrawal from the EU5×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Honeys Holdings yet. It last moved in the Earnings of 2026-09-29: "Materialised".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Sluggish Consumer Spending and Weak Demand for Women’s Clothing | HONEYS HOLDINGS CO.,LTD. (2792) | Komori