Japan Retail Sector "FamilyMart: Q1 FY2/27 results and implications" Kazahaya

Research evidence excerpt

Japan Retail Sector "FamilyMart: Q1 FY2/27 results and implications" Kazahaya

Global Research

10 July 2026ab

Japan Retail Sector Equities

JapanFamilyMart: Q1 FY2/27 results and implications

Retail

Takahiro Kazahaya

Summary Analyst

FamilyMart announced its Q1 FY2/27 results (IFRS basis) on 8 July (link, Japanese only). In takahiro.kazahaya@ubs.com

this note, we summarise the main points and their implications. +81-3-5208 6226

Kazuki Oike

FamilyMart’s Q1 FY2/27 results Analyst

FamilyMart reported Q1 FY2/27 business profit of ¥30.7bn, up 10% yoy, of which kazuki.oike@ubs.com

+81-3-5208 6964

parent business profit increased 8% yoy to ¥28.7bn. For the domestic convenience store

business (including AFC), there was a net increase of 14 stores to 16,429 stores at Hirotaro Hasegawa

quarter-end, and chain-wide store sales declined 1% yoy to ¥814.4bn. The parent Associate Analyst

business profit margin relative to total chain-wide sales in the domestic convenience hirotaro.hasegawa@ubs.com

+81-3-5208 6684

store business improved to 3.5%, versus 3.2% a year earlier. Parent same-store average

daily sales increased 1.0% yoy (customer traffic -2.1%, average customer spend

+3.2%). Average daily sales across all stores were ¥570,000, while the gross profit

margin improved 0.1ppt to 32.0%. Notwithstanding ongoing inflation, FamilyMart

achieved growth in same-store sales, an improvement in the gross profit margin, and

higher business profit. In addition to earnings growth in the parent business, profit from

the advertising and media business and related businesses increased by ¥800mn yoy,

contributing to consolidated earnings. FamilyMart's FY2/27 guidance calls for business

profit of ¥103.0bn, up 3% yoy (an increase of ¥2.8bn). In Q1 FY2/27, business profit