Retail event calendar (30 July 2026)

研报英文原文证据摘录

Retail event calendar (30 July 2026)

Global Markets Research

Retail event calendar (30 July 2026) 30 July 2026

EQUITY: JAPAN RETAILING

Research Analysts

Key events for next week (3–7 Aug) Japan retailing

Hisahiro Yamaoka - NSC

Results at Workman, MonotaRO, Food & Life Companies, Zensho Holdings, Mizuno, hisahiro.yamaoka@nomura.com

Nitori Holdings, etc; monthly data (department stores, apparel, restaurant operators, etc) +81 3 6703 1680

Yusuke Sakamoto - NSC

Next week's results announcements: Workman, MonotaRO, Food & Life yusuke.sakamoto@nomura.com

Companies, Zensho Holdings, Mizuno, Nitori Holdings, etc +81 3 6703 1226

Workman [7564] (Buy) is scheduled to release 27/3 Q1 results on 3 August. Based on Shintaro Umeda - NSC

monthly sales data, we estimate that all-store sales for the chain rose 19% y-y to ¥67.5bn shintaro.umeda@nomura.com

in Q1, versus our forecast of ¥70.3bn. Using our assumptions for the company's operating +81 3 6703 1741

margin (28.6%) and SG&A costs (¥8.9bn), operating profits work out to ¥10.4bn (up 15%),

versus our forecast of ¥11.2bn. We think the focus for Q1 results will be on inventory

levels for summer apparel such as fan-cooled clothing. We will be interested to see

whether slow-moving inventories of summer merchandise have a negative impact on the

company’s sales strategies, including securing inventories of fall/winter merchandise.

MonotaRO [3064] (Neutral) is scheduled to release 26/12 Q2 results on 4 August. Our

forecast is for Q2 operating profits of ¥14.4bn (up 29% y-y). We forecast profits up sharply

on increased demand for petroleum-derived products as a result of the conflict in the

Middle East. However, this demand has settled down since June, and we think the stock