Cross Plus Inc. (TSE: 3320) — a Nagoya-based apparel wholesaler that also operates lifestyle-goods retail and e-commerce — reported first-quarter results on June 12, 2026 for the three months to April 2026 (fiscal year ends January). Consolidated revenue fell 3.0% year-on-year to ¥15,499 million, operating profit dropped 56.8% to ¥347 million, ordinary profit declined 55.3% to ¥375 million, and net profit attributable to owners fell 63.5% to ¥249 million.
Retail grows, apparel wholesale weighs
By segment, retail revenue rose 13.1% to ¥3,117 million on stronger store and e-commerce sales of apparel and variety goods, and lifestyle wholesale grew. But apparel wholesale — the group's largest business — fell 7.9% to ¥11,248 million amid a slow recovery in sales to suburban specialty stores, pulling overall revenue lower. Higher purchasing costs squeezed the gross margin, while personnel, logistics and retail-related selling costs rose, compounding the profit decline.
Shifting toward higher-margin retail
Total assets stood at ¥30,231 million. Under its medium-term plan, Cross Plus is pursuing an "apparel plus lifestyle" strategy — expanding specialty-store channels and its "Cross Function" functional-fashion and men's lines on the wholesale side, while growing own-brand variety shops and SNS/video-driven e-commerce on the retail side, including new beauty products such as the Korean nail brand "Dashing Diva."
The company left its previously announced first-half and full-year FY2027 (to January 2027) forecasts unchanged.
| Metric | Q1 FY2027 | Q1 FY2026 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 15,499 | 15,978 | −3.0% |
| Operating profit (¥ million) | 347 | 803 | −56.8% |
| Ordinary profit (¥ million) | 375 | 839 | −55.3% |
| Net profit (¥ million) | 249 | 682 | −63.5% |
| — apparel wholesale revenue (¥ million) | 11,248 | 12,213 | −7.9% |
| — retail revenue (¥ million) | 3,117 | 2,756 | +13.1% |
| Total assets (¥ million) | 30,231 | — | — |
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