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J. Front Retailing: The department store formula still works in Japan

J. Front Retailing: The department store formula still works in Japan

The department store remains a fixture in Japan's retail landscape. While it may have fallen from grace in the UK, it is still possible to make big money with this model in Japan and achieve a cash rich, consistent business model.

Tokyo-listed J. Front Retailing [TSE:3086]  runs department stores and shopping centres, including Daimaru and Matsuzakaya. Like many Japanese companies of this scale, it is quite vertically integrated, with considerable real estate assets and activities and a payments/finance arm. Merchandise inspection, parking, restaurants, direct marketing and even import/export are all carried out under the company's umbrella.

This month J. Front Retailing shared its financial results for the third quarter of 2024, reporting revenues of 107.9 billion yen and net income of 17.78 billion yen, indicating a growth of 9.9% in revenue, along with a significant increase of approximately 178.2% in EPS compared with the same quarter last year.

A positive note is that for the 11th consecutive quarter, the company's income line has increased compared to last year's corresponding quarter, which demonstrates J. Front Retailing's stability and its ability to grow in the future.

J. Front Retailing price action

From an Armchair Trader's perspective, the share price action is also interesting.


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