TSI holdings sees mixed September sales, e-commerce drives growth

TSI Holdings Co., Ltd. announced its Monthly Sales Report for September 2025, revealing mixed results across its retail channels. All retail channels saw a 121.7% year-on-year increase, driven by a 163.1% rise in e-commerce sales and 108.4% growth in physical stores. However, existing retail channels experienced a 93.2% year-on-year decline, with physical stores down to 95.6% and e-commerce at 85.7%.

The growth in all retail channels was primarily attributed to brands launching collaboration products and new autumn collections. Conversely, the decline in existing retail channels was due to a failure in customer recovery for core brands. Excluding the newly consolidated Daytona International, the year-on-year results for all retail channels would have been 89.3%.

The report also noted a negative impact of approximately 1.7 percentage points on year-on-year sales due to one less holiday in September 2025 compared to the previous year. The sales data is based on retail price and is preliminary, subject to revision in future reports.