Japan's largest department-store group closed its year to March 2026 with net income up 44% to ¥76bn, even as revenue slipped 1.8%: record loyalty spending at its Tokyo flagships and cost reform lifted profit, while inbound sales eased from late 2025 as Chinese visitor numbers thinned.

The Daimaru Matsuzakaya owner opened its new year (March–May 2026) with revenue down 3.9% and reported operating profit off 11.7% — but that fall mirrors a one-off property gain a year earlier; its underlying 'business profit' edged up 1.7%. Personal-shopper (gaisho) and tax-free sales grew, offset by less selling floor during the Daimaru Umeda renovation.

Takashimaya began its new year (March–May 2026) strongly: net income jumped 58% to ¥11bn on a 6.4% revenue rise, as a weaker yen pulled inbound shoppers back to its floors and its domestic department-store segment lifted operating profit 44%. The clearest sign among the majors that the inbound tide turned up again in spring 2026.

The Hankyu Hanshin operator's year to March 2026 went the other way: net income fell 14% to ¥30bn as its department-store arm absorbed a near-20% drop in inbound sales — driven by fewer Chinese visitors — and a remodel of the Hankyu Umeda flagship temporarily shrank its selling floor. A prior-year gain on securities also flattered the comparison.

Marui — now as much a fintech as a retailer — grew operating profit 13% to ¥50bn in its year to March 2026. Its EPOS-card business remains the profit engine, while its 'shopping buildings' keep shifting from selling goods to experiences: non-merchandise and experiential tenants are now 70% of floor space, and that retail arm's profit rose 30%.

Seven & i's headline revenue fell 14% in March–May 2026, but that reflects spinning off its superstore and banking arms, not a weaker business: operating profit jumped 61% to ¥105bn as its overseas 7-Eleven convenience business rode fatter North American fuel margins and a weak yen. The group has slimmed to its convenience-store core.

Japan's biggest retailer by revenue opened its year (March–May 2026) with operating revenue up 15% to ¥2.9 trillion and operating profit up a third, swinging from a year-earlier quarterly loss to a ¥14bn profit. Its supermarket, drugstore and financial businesses carried the quarter.

The Uniqlo owner stayed the standout: across the nine months to May 2026 revenue rose 17% to ¥3.1 trillion and operating profit 36% to a record ¥614bn, and it raised full-year guidance to a fresh record. Overseas Uniqlo — not Japan — is now the growth engine.

MUJI's operator kept compounding: operating revenue rose 17% and operating profit 36% across the nine months to May 2026, and it lifted its full-year forecast. Steady global store growth and firm domestic demand kept the no-brand brand among the season's clearest winners.

Don Quijote's parent kept grinding higher: over the nine months to March 2026 sales rose 8.2% and net income 24%, with its domestic discount stores lifted by rising duty-free sales to inbound visitors. Its budget-thrill format remains one of the most reliable inbound plays in Japanese retail.

The world's largest luxury group grew organic revenue 2% in the first half (and 3% in the second quarter), but a strong euro pulled reported revenue down 3% and recurring profit down 4%. Japan posted growth for the half, and Watches & Jewellery (+9%) and its retail arm led; net profit held flat at €5.7bn.

Gucci's owner edged back to growth — first-half revenue rose 1% on a comparable basis (−3% reported on the strong euro) and recurring operating margin improved. Group net profit fell to €0.2bn, dragged by disposal and one-off effects (continuing-operations net profit excluding those was €0.4bn); the Kering Beauté sale to L'Oréal slashed debt. Its jewellery houses cited particularly strong momentum in Japan.

Cartier's owner opened its new financial year (April–June 2026) with group sales up 20% at constant exchange rates to €6.3bn (+17% as reported) — a revenue-only trading update, no profit figures disclosed. Japan was the standout region, surging 36% at constant currency, a sharp reversal from a 15% decline a year earlier, as local demand and tourist spending strengthened; Jewellery Maisons (+24%) led globally.

The Birkin maker grew first-half revenue 6% at constant currency, though the strong euro held the reported rise to 1.6% and eased its recurring operating margin to 41.0%. Japan was a standout, up 11% at constant currency and accelerating through the second quarter on loyal local customers and tourist traffic.

The Prada and Miu Miu owner grew first-half net revenue 5% organically (16% at constant currency once newly-consolidated Versace, which added €305mn, is counted; +11% as reported). EBIT Adjusted margin held steady on an organic basis but fell to 17.4% including Versace and a weaker euro, and net income slipped to €327mn. Japan turned positive — retail sales there rose 6% at constant currency (2% organic) on firmer local spending and returning travellers, even as a weaker yen cut the euro-reported figure by 7%.

The down-jacket maker grew first-half revenue 9% at constant currency and lifted its EBIT margin to 19.0%. It doesn't break out Japan, folding it into an Asia region that rose 19% for the Moncler brand — led, the group said, by China and Korea.

Burberry's turnaround kept building momentum into its new fiscal year: Q1 retail revenue rose 5% to £455m (4% at constant currency) with comparable sales up 5% — the first quarter in three years with all four product divisions growing at once. The Americas (+12%) and Greater China (+9%) led; Japan was the exception, down 2% as inbound Chinese tourist numbers kept falling.

The private group behind Diesel, Maison Margiela and Marni reported 2025 turnover of €1.7bn, down about 5% in a slowing luxury market, with EBITDA of €0.2bn (a 15% margin). Japan was a bright spot — the group calls it 'resilient' and its single biggest market at 27% of business — and it has just put its Korea operation under Japanese coordination.

The Omega-to-Swatch watchmaker grew first-half sales 8.5% at constant currency (+2% reported), with Japan a standout at +20%. Profitability stayed thin, though — a 1.7% operating margin and just CHF16m of net income — in a soft watch market; management said a strong May–June points to a better second half.

The Florentine house is deep in turnaround: 2025 revenue was €1.0bn, down about 4% at constant currency, and it barely broke even (a small adjusted net loss). Japan has been among the weak spots — first-quarter 2026 sales there fell about 4% at constant currency, hit, the company said, by fewer Chinese tourists.

The Italian 'quiet luxury' label stayed a standout, with first-quarter revenue up 14% at constant currency (+8% reported) and full-year growth guided at around 10%. Asia — its China-led region that also contains Japan — rose 18% at constant currency; Japan isn't disclosed separately.

Coach's owner had a strong quarter to March 2026 — revenue up 21% and operating margin up more than 6 points — and raised its full-year outlook. But Japan was the one region to shrink, down 10%, even as Greater China surged 61%.

Michael Kors' owner is mid-restructuring after selling Versace to Prada (completed December 2025): full-year revenue from its continuing brands fell 4%, and it was near break-even on a reported basis (adjusted operating income of $0.1bn). It doesn't disclose Japan, reporting an Asia region worth $0.4bn; it guides to a recovery in the year ahead.

Ralph Lauren had a record year to March 2026, with revenue topping $8bn for the first time (+12% at constant currency) and profit up over a quarter. Its Asia region jumped 23%, led by China and strong Lunar New Year selling; Japan isn't broken out separately.