Geo Holdings, the Nagoya-based operator of the 2nd STREET and OKURA secondhand chains, posted net sales of ¥125.0bn for the quarter through June, its highest first-quarter total on record and up 19.7% from a year earlier. Operating profit rose 32.8% to ¥5.3bn, and net income attributable to shareholders climbed 30.8% to ¥3.19bn.
The sharpest gain came from OKURA, Geo's secondhand watch and handbag business. Sales there rose 95.2% to ¥17.9bn. Geo attributed the jump to inbound tourist demand and a rally in secondhand watch prices, plus the disappearance of a US tariff-related sales drag that had weighed on the same quarter a year earlier. Gross profit at the luxury unit nearly doubled too, up 90.8% to ¥1.8bn.
| Segment | Q1 Sales | YoY Change |
|---|---|---|
| Overall net sales | ¥125.0bn | +19.7% |
| Reuse luxury (OKURA) | ¥17.9bn | +95.2% |
| Reuse apparel (2nd STREET) | ¥35.1bn | +27.3% |
| New products (mainly Nintendo Switch 2) | ¥25.6bn | -3.4% |
2nd STREET, Geo's secondhand clothing and accessories chain, added 27.3% to reach ¥35.1bn in sales. New-product sales, dominated by Nintendo Switch 2 hardware, fell 3.4% to ¥25.6bn as last year's launch-week rush faded, though price-hike-driven pre-purchasing softened the decline.
Geo left its full-year outlook unchanged at ¥510.0bn in sales and ¥13.0bn in operating profit, a projected 8.7% profit decline that the company links to store-network optimization costs and the fading Switch 2 boost. Geo will also change its corporate name to 2nd RETAILING Co., Ltd. on October 1, 2026, formalizing reuse retail as its core identity.