Second Retailing (2nd Street; formerly GEO Holdings)

Major retail groups · 2681

The Japan read

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

Stores2nd Street had 949 shops in Japan at end-June (893 directly run, 56 franchised) after opening 21 in the quarter against a full-year plan of 100. The company aims to pass 1,000 shops in Japan this fiscal year, two years ahead of its original target, and 1,500 by March 2036.
InboundLuxury resale, run mainly through OKURA (watches and bags sold in shops, online and at dealer auctions), rose 95.2% to ¥17.88bn and its gross profit 90.8%. The company cites inbound demand, rising used-watch prices and recovery in overseas wholesale after US tariffs stalled it a year earlier.

Other callouts in the filing

SegmentUsed clothing and accessories, 2nd Street's core, grew 27.3% to ¥35.07bn on new shops and early summer demand; the 2nd Street business overall, including furniture and appliances, reached ¥43.67bn (+23.6%). New goods fell 3.4% to ¥25.56bn against the Nintendo Switch 2 launch a year earlier.
SegmentOverseas, 2nd Street had 158 shops at end-June (56 in the US, 50 in Taiwan, 34 in Malaysia, 11 in Thailand, 4 in Hong Kong, 3 in Singapore) after 11 openings against a full-year plan of 38. Overseas 2nd Street sales were ¥8.56bn in the quarter, against ¥27.76bn in the last full year.
OutlookFull-year guidance is unchanged: revenue of ¥510.0bn (+6.0%), operating profit of ¥13.0bn (−8.7%) and net income of ¥6.0bn (−31.3%). The company points to a payback from Switch 2 buying ahead of a price rise and the cost of optimising its store network.

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¥125.0bn+19.7%

Operating profit¥5.3bn+32.8%

Net income¥3.2bn+30.8%

Second Retailing (GEO Holdings until 1 October 2026) runs the 2nd Street secondhand fashion chain (949 shops in Japan, 158 abroad), GEO game and phone stores and OKURA luxury resale, 2,312 stores in all. In April–June 2026 revenue rose 19.7% to a first-quarter record ¥125.0bn, operating profit 32.8% to ¥5.30bn and net income 30.8% to ¥3.19bn.