PAL GROUP Holdings CO (2726) Q4 2026 earnings summary

Executive summary

• FY26 revenue reached ¥234,704m, a fifth consecutive record; operating and ordinary profit set records for a fourth consecutive year.

• Growth reflected strong apparel, goods, 3COINS and EC sales, store expansion, digital initiatives and overseas development; higher-value products and full-price sales supported gross-margin improvement.

• FY-end store count rose to 1,151, with 121 openings and 48 closures.

Financial highlights

• Revenue was ¥234,704m (+12.9% YoY), gross profit ¥133,052m (+14.4%) and operating income ¥27,144m (+14.7%).

• Ordinary income was ¥27,129m (+13.4%); net income attributable to owners was ¥17,714m (+49.5%); EPS was ¥102.01 versus ¥68.23, adjusted for the stock split.

• Net income growth benefited from the absence of the prior-year ¥3,158m founder retirement-related special payment.

• Cash and cash equivalents reached ¥96,264m at FY-end, up ¥10,548m; operating cash flow was ¥21,332m.

Outlook and guidance

• FY27 forecast: revenue ¥253,000m (+7.8%), operating income ¥29,400m (+8.3%), ordinary income ¥29,400m (+8.4%) and net income ¥19,000m (+7.3%).

• Forecast gross margin is 57.1%, up 0.4 pts; plans assume 41 net store additions to 1,192 and same-store sales growth of 2.0%.

• Growth initiatives include expansion of 3COINS and DISCOAT, LOCUST profitability, pricing and further digitalization.

• Longer-term targets include ¥300bn consolidated revenue in FY28 and EC sales of ¥70bn in FY26 and ¥100bn in FY29.