Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

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Japan Experts, Extraordinary Performance

Equity Bottom-Up

<ul><li>Q1 FY3/25 earnings look negative at first glance, with both sales and operating profit falling. However, the details show strong demand for GEO HOLDINGS’ core second-hand fashion business and smartphone sales, helping gross profit increase.</li><li>The key earnings drivers were a fall in sales (-6.2% YoY to ¥100.15bn) due to difficult annual comps from new games sales.</li><li>However, GEO HOLDINGS’ core second-hand fashion business and smartphones enjoyed robust demand, thanks to new store openings at home and overseas.</li></ul>

Q1 FY3/25 earnings look negative at first glance, with both sales and operating profit falling. However, the details show strong demand for GEO HOLDINGS’ core second-hand fashion business and smartphone sales, helping gross profit increase.The key earnings drivers were a fall in sales (-6.2% YoY to ¥100.15bn) due to difficult annual comps from new games sales.However, GEO HOLDINGS’ core second-hand fashion business and smartphones enjoyed robust demand, thanks to new store openings at home and overseas.

Geo Holdings (2681 Jp) - Q1 FY3/25 Results Update