Isetan Mitsukoshi Holdings raised its consolidated earnings forecast for the fiscal year ending March 2027 on the 13th, citing resilient demand for luxury goods amid the effects of rising stock prices and the weaker yen. Demand for luxury goods in Japan and overseas contributed to results in the April-June quarter, prompting the company to raise its full-year sales and operating income targets.
Isetan Mitsukoshi Holdings revised its consolidated earnings forecast for the fiscal year ending March 2027, setting gross sales at ¥1.36 trillion and operating income at ¥84.0 billion. The figures are ¥10.0 billion and ¥2.5 billion higher, respectively, than the initial plan. The company said they are also within reach of its targets for the final year, the fiscal year ending March 2028.
For the April-June quarter, gross sales rose 6.5% year on year to ¥320.7 billion, while operating income increased 20.6% to ¥18.8 billion. Domestic department store sales were ¥239.9 billion, up 3.6% year on year, and overseas customer sales were ¥42.1 billion, up 22.1%. Luxury spending continued to drive results, supported by the effects of rising stock prices and the weaker yen.
Sales among domestic customers with annual purchases of ¥3 million or more also rose 16% year on year, providing additional support. CFO Makino Yoshinori (牧野欣功) said sales of luxury goods to domestic customers remained strong.
Regarding the outlook, management presented the upwardly revised interim forecast at the briefing and said trends in demand for luxury goods and the foreign-exchange environment would remain important factors through the end of the fiscal year.