Japan Retail Sector "May 2026 sales (announced 25 May): Announcement by ..."

Research evidence excerpt

Japan Retail Sector "May 2026 sales (announced 25 May): Announcement by ..."

Global Research

25 May 2026ab

Japan Retail Sector Equities

JapanMay 2026 sales (announced 25 May):

Announcement by Shimamura Retail

Takahiro Kazahaya

Analyst

takahiro.kazahaya@ubs.com

Shimamura (8227): Solid in Q1 +81-3-5208 6226

Monthly sales (20th of the month closing, FY2/27): Shimamura released preliminary Kazuki Oike

monthly sales data for May after the market close on 25 May. For the Shimamura Associate Analyst

format, same-store sales rose 6.7% yoy and all-store sales were up 7.1%. For the Avail kazuki.oike@ubs.com

format, same-store sales grew 8.4% and all-store sales were up 10.8%. For the Birthday +81-3-5208 6964

format, same-store sales grew 2.7% and all-store sales were up 5.4%.

Breaking down factors for sales growth in the Shimamura format on an all-store basis in

May, customer traffic rose 6.2% yoy and sales per customer grew 0.9%. In the

breakdown of factors affecting sales per customer, the price per item fell 1.7% yoy and

the number of items purchased increased 2.5% yoy. The number of weekend/holiday

days was up by one yoy, boosting sales 1.0%. FY2/27 guidance for same-store sales in

the core Shimamura format is for an increase of around 3% yoy. As the spring/summer

retail season gets into full swing amid rising consumer expectations for higher prices due

to increasing uncertainty over the situation in the Middle East, we believe that for

Shimamura, solid sales driven by customer traffic will likely provide reassurance to the

equity market as it assesses Q1 earnings.

On 21 May, Shimamura's competitor in the Birthday format, Nishimatsuya Chain (7545,

not covered) announced its preliminary monthly sales for May, reporting a 3.8% yoy rise