Workman's non-consolidated operating profit rose 31.4% to ¥19.0bn in the six months from April to September 2026. The retailer kept its full-year forecast unchanged.
Two sales measures
The company reports two revenue lines, and they differ. Chain-wide sales, which cover franchise and directly managed stores together, reached ¥122.1bn, up 20.3%, with same-store sales up 15.1%. Operating revenues, the figure the company books itself, were ¥93.2bn, up 22.4%. Franchise stores made up 88.4% of chain-wide sales.
Below the top line, ordinary profit rose 33.1% to ¥19.8bn and net income rose 32.2% to ¥12.2bn. Earnings per share were ¥149.47.
Mix and plan
Workman said private-brand products reached 70.8% of chain-wide sales, up 5.4 percentage points from a year earlier. It named recovery wear, fan-equipped garments and its XShelter line as drivers. A separate results presentation says chain-wide sales missed the company's first-half plan by 1.3%, citing cold, unsettled weather in June that cut summer demand. Operating profit came in 7.5% above plan.
Guidance unchanged
The full-year forecast stands at operating revenues of ¥183.4bn (up 14.0%) and operating profit of ¥32.1bn (up 8.2%). The presentation says the forecast was held in view of higher second-half costs. The dividend forecast is also unchanged: ¥89 for the year, with no interim payout.
The interim results are non-consolidated, and the earnings release says they were not subject to review by an auditor.