Deterioration in Overseas Earnings Due to Difficulties in the Wholesale Business of the Joseph Business
First written in FY2025-Q1. 3 of 7 entries say "Worsened", first in FY2026. Latest entry: FY2027-H1.
Onward Holdings moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 6 of 23 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「In Europe, e-commerce sales in the JOSEPH business, a contemporary designer brand originating in London, UK, increased, but retail and wholesale remained sluggish, resulting in a wider loss.」
At JOSEPH, e-commerce sales increased, while retail and wholesale remained sluggish, resulting in a wider loss. In addition to the previously reported struggles in wholesale, the weakness in retail is now explicitly indicated. - FY2026WorsenedAnnual report
「In Europe, the JOSEPH business, a contemporary designer brand originating in London, UK, posted higher revenue due to growth in e-commerce sales, but profit declined as investments in personnel and sales promotion expenses increased ahead of the resulting benefits.」
Although JOSEPH's e-commerce sales grew, profit declined because investments in personnel and sales promotion expenses increased ahead of the resulting benefits. The factors contributing to deteriorating results thus expanded from weakness in wholesale operations to front-loaded expenses. - FY2026-H1RestatedAnnual report
「In Europe, the JOSEPH business, a contemporary designer brand originating in London, UK, saw wholesale operations struggle while retail remained firm, resulting in lower revenue but higher profit.」
While wholesale operations in the JOSEPH business continued to struggle, retail remained firm, resulting in lower revenue but higher profit for the business overall. The risk of weakness in wholesale operations continues to be disclosed. - FY2025-H1MitigatedAnnual report
「In Europe, the JOSEPH business, a contemporary brand originating in London, UK, performed well. As a result, the overseas business saw substantial improvements in both revenue and profit.」
The filing does not explicitly mention the weakness in the JOSEPH wholesale business reported previously. Instead, it explains that the JOSEPH business performed well and that the overseas business saw substantial improvements in revenue and profit. - FY2025-Q1First statedAnnual report
「In the JOSEPH business, a contemporary brand originating in London, performance deteriorated because the wholesale business, in particular, struggled. As a result, overseas business recorded higher revenue but a wider loss.」
Weakness in the JOSEPH wholesale business actually led to deteriorating results and contributed to a wider overseas-business loss.