Workman reports strong earnings driven by private brand footwear

Workman is experiencing significant growth driven by its highly successful private brand (PB) products, particularly in functional footwear. The company reported strong first-quarter results for the fiscal year ending March 2027, with operating revenue reaching 51.8 billion yen, a 24.7% increase year-on-year. Operating profit rose by 33.3% to 12.0 billion yen.

Key drivers of this performance include specialized weather-resistant products. Popular items include the 1,500 yen durable water-repellent canvas slip-ons, which have gained social media attention for their slip-resistant soles, and the 2,500 yen lightweight waterproof field boots designed for both outdoor use and daily commuting. The company’s PB products now account for 74.9% of total chain store sales.

While the strong earnings initially caused a stock price surge, the share price has since fluctuated, trading around 5,630 yen as of mid-September 2026.