J. Front Retailing Co., Ltd. revised consolidated earnings guidance for the first six months ending August 31, 2024, and fiscal year ending February 28, 2025. For the first six months ending August 31, 2024, the company expects to report sales revenue of JPY 207,000 million, operating profit of JPY 27,000 million, profit attributable to owners of parent of JPY 18,000 million, and basic earnings per share of JPY 69.65, compared with previous guidance of sales revenue of JPY 204,000 million, operating profit of JPY 23,000 million, profit attributable to owners of parent of JPY 15,000 million, and basic earnings per share of JPY 58.04.

For the fiscal year ending February 28, 2025, the company expects to report sales revenue of JPY 424,500 million, operating profit of JPY 41,500 million, profit attributable to owners of parent of JPY 26,500 million, and basic earnings per share of JPY 103.42, compared with compared with previous guidance of sales revenue of JPY 421,500 million, operating profit of JPY 37,500 million, profit attributable to owners of parent of JPY 23,500 million, and basic earnings per share of JPY 91.71. Reasons for the revision: In the first quarter of the current fiscal year, domestic sales remained strong mainly in the core businesses of department stores and shopping centers, while duty-free sales grew more than initially expected based on an increase in foreign tourists visiting Japan and other factors. As a result, gross sales increased 13.6%, sales revenue rose 8.6% year-over-year, and profits at each level were up, with business profit increasing 65.6% year-over-year. Based on the consolidated business results for the first quarter of the current fiscal year, the consolidated earnings forecasts for the first six months ended August 31, 2024 and for the fiscal year ending February 28, 2025 have been revised from those announced on April 15, 2024, as the company expects increases in gross sales, sales revenue and profits at each level.