February 2026 J. Front Retailing Consolidated Revenue Report (IFRS)

Performance Overview

Consolidated revenue for February 2026 saw a 0.4% decline YoY in the department store segment; however, domestic sales increased by 4.2%, supported by strong outside sales and spring apparel performance. Duty-free sales decreased by 16.5% due to fewer inbound foreign tourists. Conversely, the SC segment experienced robust growth, rising 5.2% across all stores and 7.2% at existing stores, driven by store renovations and strengthened inbound customer strategies. Shibuya PARCO in particular recorded a substantial 32.6% increase. Developer, payment & finance, and other businesses saw declines due to the previous year's rebound effect.

Detailed Segment Trends

In the department store segment, a large-scale renovation at the Umeda store resulted in reduced sales floor area, yet strong outside sales and a recovery in inbound foreign tourist sales turned sales positive YoY in March. Within the SC segment, 12 out of 15 stores exceeded last year's results, with Shibuya PARCO, Sendai PARCO, Nagoya PARCO, and Kichijoji PARCO performing particularly well. By product category, miscellaneous goods and apparel grew, while food declined somewhat, but overall revenue increased. Continued benefits from store renovations and strengthened inbound tourist initiatives are anticipated.