ABC-Mart raised its forecast for the year to February 2027 on October 7, but management was explicit that the increase covers only the first half. The half-year accounts and revised guidance show how much first-half strength the footwear retailer is willing to carry into the second half: none, since it kept the second-half plan unchanged.
What the forecast now says
The company revised the guidance it published on April 8, 2026. Consolidated net sales are now forecast at ¥403.0bn, up ¥2.2bn from the previous ¥400.8bn. Operating profit is forecast at ¥67.2bn, up ¥1.6bn from ¥65.6bn.
| Measure | Previous (April 8) | Revised | Change |
|---|---|---|---|
| Net sales | ¥400.8bn | ¥403.0bn | +¥2.2bn (+0.5%) |
| Operating profit | ¥65.6bn | ¥67.2bn | +¥1.6bn (+2.4%) |
| Ordinary profit | ¥67.4bn | ¥69.8bn | +¥2.4bn (+3.6%) |
| Net profit attributable to owners of parent | ¥46.4bn | ¥47.7bn | +¥1.3bn (+2.8%) |
Against last year's actual results of ¥378.6bn in sales and ¥63.3bn in operating profit, the new guide implies sales growth of 6.4% and operating profit growth of 6.2%. Forecast ordinary profit growth is 3.9% and net profit growth 2.9%. The full-year dividend forecast stays at ¥80, with an interim payout of ¥40.
Why management stopped at the first half
ABC-Mart said it expects corporate earnings, personal income and inbound tourism to keep rising in the second half on the back of higher prices and a weak yen, with higher spending per customer lifting sales. It also named two risks: weaker consumer sentiment as prices rise, and the effect of Japan's domestic tax-free system moving to a refund method from November. On that basis it kept its second-half forecast at the plan set at the start of the year, and raised the full-year figure only by the first-half upside.
For domestic stores, the second-half plan assumes same-store sales up 2.9% and all-store sales up 4.2%. The full-year domestic assumptions are 2.6% and 3.7%. These are management's assumptions, not independent consumer statistics, and they come from one retailer.
The half it banked
For March to August, consolidated sales rose 6.4% to ¥202.3bn and operating profit rose 7.4% to ¥36.1bn. Ordinary profit rose 5.7% to ¥38.0bn and net profit attributable to owners of the parent rose 6.6% to ¥25.9bn.
In Japan, same-store sales rose 4.5% and all-store sales 4.8%. ABC-Mart said a weaker yen drove strong sales to inbound visitors. Overseas sales rose 10.8% to ¥58.7bn and segment profit rose 31.5% to ¥4.3bn. In Korea, sales rose 11.3% to ¥37.5bn, which the company also tied to inbound demand.
By product, the group's sports category sales rose 5.2%, kids 10.5% and apparel and other wear 29.5%. Sandals fell 1.5%, women's footwear 4.7% and business shoes 3.1%.
The Korean subsidiary also took over the FOLDER shoe retail chain from a Korean retailer in June, adding 16 stores and taking the group to 1,522 stores at the end of the half. ABC-Mart's cash flow statement shows ¥4.0bn spent on business acquisitions.
The revision notice does not say how much of the first-half upside came from inbound demand rather than domestic shoppers. The interim report attributes the domestic sales gain to inbound sales, but gives no split. The forecasts are management's own and carry its standard warning that actual results may differ.