Monthly Overview (February 2026)
FY2026
February
The apparel market in February was generally sluggish, as spring products underperformed due to highly variable weather conditions, and inbound sales remained weak due to voluntary travel restrictions by Chinese tourists.
In our company, full-price sales of spring products, particularly knitwear and jersey tops, at department stores and directly managed stores performed well, exceeding the previous year. On the other hand, autumn/winter clearance sales were sluggish, partly due to stockouts of popular coats and outerwear in the final phase. In particular, markdown sales channels such as e-commerce (EC) and outlet stores significantly underperformed compared to the previous year, resulting in total sales falling below the previous year’s figures.
As a consequence of the above, sales at physical stores such as department stores, directly managed stores, and outlet stores were at 95% of the previous year‘s level, EC sales were at 91%, and total company sales were at 94% of the previous year's level.
Year-on-year Change in Retail Sales
| Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | Last half | |
| Total | 92% | 99% | 104% | 95% | 93% | 94% | 97% |
|
By Brand |
|||||||
| MACKINTOSH LONDON | 90% | 103% | 109% | 97% | 99% | 99% | 100% |
| MACKINTOSH PHILOSOPHY | 96% | 105% | 115% | 97% | 99% | 101% | 103% |
| Paul Stuart | 98% | 101% | 104% | 99% | 94% | 96% | 99% |
| EPOCA | 97% | 104% | 106% | 100% | 96% | 100% | 101% |
| Womenswear*1 | 89% | 95% | 97% | 103% | 92% | 98% | 96% |
| Corporate brands*2 | 120% | 107% | 115% | 106% | 120% | 117% | 113% |
| LOVELESS | 100% | 101% | 100% | 91% | 96% | 102% | 98% |
|
By Channel |
|||||||
| Department stores | 87% | 95% | 99% | 91% | 88% | 95% | 93% |
| Directly managed stores | 89% | 105% | 110% | 94% | 97% | 109% | 101% |
| EC | 122% | 112% | 107% | 113% | 101% | 91% | 105% |
| Outlet stores | 96% | 102% | 127% | 104% | 102% | 91% | 105% |
- Corporate brands include SANYOCOAT, S.ESSENTIALS, Sanyo Yamacho and ECOALF.
- Womenswear includes AMACA, EVEX by KRIZIA, TO BE CHIC and TRANS WORK.
Number of Stores
| Feb 2025 | Aug 2025 | Feb 2026 | ||||
|---|---|---|---|---|---|---|
| Actual | YoY | Actual | YoY | Actual | YoY | |
| Department stores | 706 | -25 | 690 | -12 | 672 | -34 |
| Directly managed stores | 37 | -5 | 35 | -6 | 39 | 2 |
| Outlet stores | 40 | 6 | 41 | 1 | 46 | 6 |
| Total | 783 | -24 | 766 | -13 | 757 | -26 |
- Number of shop-in-shops for department stores. Directly managed stores incude shops in department stores based on lease agreement and Marui.