Japan Retail Sector "June 2026 sales (announced 1 July): announced by..."

研报英文原文证据摘录

Japan Retail Sector "June 2026 sales (announced 1 July): announced by..."

Global Research

1 July 2026ab

Japan Retail Sector Equities

JapanJune 2026 sales (announced 1 July): announced

by Workman, K's Holdings, and Komeri, Retail

unfavourable weather effects dominated Takahiro KazahayaAnalyst

takahiro.kazahaya@ubs.com

+81-3-5208 6226

Summary Kazuki Oike

Associate Analyst

On 1 July, in addition to major department store companies, Workman (7564), K’s kazuki.oike@ubs.com

Holdings (8282), and Komeri (8218, not covered) announced monthly sales for June. In +81-3-5208 6964

addition to the negative impact of having one fewer weekend or holiday day than the

same month last year, sales were weak, mainly for seasonal products, due to

unfavourable weather. Amid this, firm sales at department stores for luxury brands not

only to inbound tourists but also to domestic customers have been confirmed. We

maintain our view that weak sales in June were mainly attributable to unfavorable

weather, and that personal consumption remains solid, given that consumer price

inflation is easing amid continued improvement in the income environment.

Workman (7564): Same-store sales declined on weakness for seasonal products

Monthly sales (month-end closing, FY3/27): June same-store sales declined 8.8% yoy

(customer traffic: -10.3%, sales per customer: +1.7%) and all-store sales contracted -

4.6% (customer traffic: -5.9%, sales per customer: +1.4%). Cumulative Q1 same-store

sales are up 13.3% yoy and all-store sales are up 18.6%. Total chain store sales in June

were +9.8% yoy in the beginning of the month, -11.3% in the middle of the month and

-9.7% at the end of the month. The effect of one fewer weekend/holiday days

compared to the same month last year lowered same-store sales by approximately