Wacoal U.S. Profit, Sales Fall

Left, Bravissimo Shoulder Ease Alicia Bra, $86 on the company website. Right the Bravissimo Gia Bra, 84.  

In the first nine months, Wacoal’s U.S. division operating profit fell 87.1% as net revenue declined 12.3%. Meanwhile, at Wacoal Europe Ltd., operating profit fell 20.5% while net revenue jumped 26.9%. Between April 1, 2025 and December 31, 2025, Wacoal International Corp. (U.S.) reported an operating profit of 116 million yen (about $748,000 at current exchange rates) on revenue of 17,158 million yen (about $110.7 million), compared to an operating profit of 900 million yen (about $5.8 million) on revenue of 19,561 million yen (about $126.2 million) in the same period a year before.

Wacoal Europe Ltd. recorded an operating profit of 240 million yen (about $1.5 million) on revenue of 22,147 million yen (about $142.9 million), compared to an operating profit of 302 million yen (about $1.9 million) on revenue of 17,452 million yen (about $112.6 million) in the three quarters ended December 31, 2024. The two divisions are part of Wacoal Holdings Corp., the public intimate apparel company based in Japan that operates in many parts of the world.

Wacoal Holdings explained that “During the current consolidated cumulative nine-month period, sales from Wacoal International Corp. (U.S.) fell below the level of the corresponding period of the previous fiscal year due to the severe impact of restrained purchases by some of our wholesale customers, driven by the backdrop of polarized consumption trends. By sales channel, sales from our stores in department stores continued to remain challenging due to the impact of store closures by major wholesale customers, in addition to restrained purchases. While sales to consumers on major e-commerce platforms remained strong, delivery was sluggish due to more stringent purchase restrictions than those affecting department stores. On the other hand, the renewal of platforms for certain brands aimed at improving UI [user interface] and UX [user experience] proved successful, leading to improvements in the number of visitors and purchase prices, resulting in sales exceeding those of the corresponding period of the previous fiscal year.”

“Sales from Wacoal Europe Ltd. increased from the level of the corresponding period of the previous fiscal year due to the contribution of sales from the Bravissimo Group, which we acquired in September 2024. On the other hand, due to a fire that occurred at a logisics warehouse in June 2025, shipments from our e-commerce website were suspended for approximately two months. After shipments resumed in September, demand increased as a rebound, and sales exceeded the levels of the corresponding period of the previous fiscal year. However, due to inventory shortages caused by the fire, some opportunity losses occurred. This logistics warehouse is covered by fire insurance and the insurance payments are expected to cover not only the physical loss or damage to property such as inventory and buildings caused by the fire, but also the lost profits resulting from the suspension of shipments and inventory shortages. As a certain period of time is required to calculate the amount of damages, only a portion of the insurance payments has been recorded during the current consolidated cumulative nine-month period.”