Goldwin (The North Face Japan)

Japanese apparel & fashion groups · 8111

The Japan read

From the company's own filing for Q1 (Apr–Jun 2026) · reported 2026-08-06 · the filing

StoresIts own stores grew, led by outlets with full-price stores also up, and its GOLDWIN ONLINE STORE grew on markdowns; wholesale fell after shipments were pulled into the previous quarter, and a wet June hurt T-shirts, shorts and sandals.
InboundIt says visitor numbers stayed high but shifts in nationality mix and buying behaviour made the inbound benefit uneven across regions and store formats.

Other callouts in the filing

SegmentGross margin rose 1.0 point to 54.0%, but selling and admin costs rose 17.1% to ¥12.4bn, mainly on higher pay under a new HR system, cutting operating profit 82.1% to ¥0.37bn.
SegmentEquity income from its Korean affiliate YOUNGONE OUTDOOR rose 33.6% to ¥2.18bn, limiting the fall in recurring profit to 30.9% (¥2.60bn).
OutlookIt cut its first-half forecast to revenue of ¥55.6bn (7.2% below plan) and operating profit of ¥4.2bn (40.0% below), but kept the full year at ¥145.4bn revenue (+5.7%), ¥26.1bn operating profit (+0.9%) and ¥25.6bn net income (+6.3%).

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

Q1 (Apr–Jun 2026) · Year-to-Date

Reported 2026-08-06

Net sales¥23.6bn−1.2%

Operating profit¥0.4bn−82.1%

Net income¥2.2bn−29.5%

Goldwin makes and sells The North Face, Helly Hansen and its own Goldwin label in Japan. In April–June 2026 revenue slipped 1.2% to ¥23.6bn, operating profit fell 82.1% to ¥0.37bn on higher pay costs, and net income fell 29.5% to ¥2.2bn.