Gift Holdings Q1 net sales rise, profit declines

Gift Holdings (TSE:9279) reported a 24.9% increase in net sales to ¥8.50 billion for the first quarter of fiscal year 2025, ended January 31, 2025, compared to ¥6.81 billion in the same period last year. However, operating profit decreased by 14.7% to ¥774 million, and net profit attributable to owners of parent declined 11.8% to ¥547 million. The results reflected increased costs of raw materials, labor, and one-time expenses tied to new store openings. While the company has strategically implemented price adjustments, they were insufficient to offset rising costs.