Sales Decline Due to Department Store Closures
First written in FY2018-Q2. 18 of 22 entries say "Restated". Latest entry: 2026-06-09.
Morozoff Limited moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 5 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The company expects store closures at regional and suburban department stores and contraction of the formal gift market, including Valentine’s, summer gifts and year-end gifts.」
The company reconfirms store closures at regional and suburban department stores as a risk to the future sales environment. - FY2023RestatedAnnual report
「In terms of sales, the company anticipates population decline resulting from the declining birthrate and aging population, store closures at regional and suburban department stores, and contraction of the Valentine’s, summer gift and year-end gift markets in the environment surrounding the group going forward.」
The company reconfirms population decline and closures of regional and suburban department stores as risks to the future sales environment. - FY2023-Q1RestatedAnnual report
「The rebound from the impact of commercial facility closures and other measures associated with the declaration of the third state of emergency in April last year」
The company reconfirms that commercial facility closures associated with the state of emergency contributed to the prior-year decline in sales, in relation to the increase from the rebound in the current period. - FY2022RestatedAnnual report
「The company expects store closures, including department stores, to continue in the future.」
The company continues to indicate that store closures, including department stores, are expected to continue in the future. - FY2022-Q2RestatedAnnual report
「The rebound from the first state of emergency, when commercial facilities were closed or operated for shorter hours across a broad area, and」
The company reconfirms, including the prior-year decline and subsequent rebound, the situation in which the closure of or reduced operating hours at commercial facilities, including department stores, affected product sales. - FY2022-Q1RestatedAnnual report
「Following the declaration of the third state of emergency, the closure of or reduced operating hours at commercial facilities and requests to refrain from nonessential and nonurgent outings resulted in continued difficult conditions.」
The company states that the closure of or reduced operating hours at commercial facilities, including department stores, continued to affect the sales environment. - FY2021RestatedAnnual report
「The company believes that this impact will also lead to the continued closure of stores such as department stores, a contraction in gift demand, and sluggish demand for souvenirs.」
The company states that store closures, including department stores, are expected to continue in the future, reconfirming the existing risk of store closures. - FY2021-Q3RestatedAnnual report
「In April, the closure of or reduced operating hours at commercial facilities such as department stores and station buildings, as well as restrictions on nonessential and nonurgent outings, were implemented in response to the state of emergency. As a result, net sales fell sharply.」
The impact of the decline in sales due to the closure of or reduced operating hours at commercial facilities, including department stores, continued to be disclosed. - FY2021-Q2RestatedAnnual report
「In April, a state of emergency was declared, leading to the closure of or reduced operating hours at commercial facilities such as department stores and station buildings, as well as restrictions on nonessential and nonurgent outings. As a result, net sales fell sharply.」
The closure of or reduced operating hours at commercial facilities, including department stores, continued to be identified as a factor contributing to the decline in sales. - FY2021-Q1WorsenedAnnual report
「A sharp decline in consumption caused by the closure of or reduced operating hours at commercial facilities, including department stores and station buildings, as well as calls to avoid nonessential and nonurgent outings, had a significant impact,」
In addition to the previous decline in sales due to department store closures, the company explicitly identifies the closure of or reduced operating hours at commercial facilities, including station buildings, and the sharp decline in consumption caused by restrictions on outings, indicating a broader range of impacts. - FY2020RestatedAnnual report
「In terms of sales, there were negative factors, including the impact of department store closures and weak sales of summer products due to adverse weather such as the long rainy season and the landfall of major typhoons, but」
Department store closures continued to be identified as a factor contributing to the full-year decline in sales. - FY2020-Q3RestatedAnnual report
「As for net sales, sales of seasonal semi-fresh confectionery and fresh confectionery such as custard pudding were strong. However, in addition to the impact of department store closures, summer products remained weak due to adverse weather, including the successive landfalls of major typhoons. Net sales for the nine-month cumulative period were ¥18,756 million, down 0.7% year on year.」
The impact of department store closures on sales continued to be disclosed. Although this was partly offset by strong sales of seasonal products and fresh confectionery, company-wide sales declined 0.7% year on year. - FY2020-Q2RestatedAnnual report
「As for net sales, sales of seasonal semi-fresh confectionery and fresh confectionery such as custard pudding were strong. However, in addition to the impact of department store closures, summer products remained weak due to the long rainy season and low temperatures. Net sales for the first half cumulative period were ¥13,927 million, down 0.8% year on year.」
The impact of department store closures on sales continued to be disclosed. Although this was partly offset by strong sales of seasonal products, company-wide sales declined 0.8% year on year. - FY2020-Q1RestatedAnnual report
「As for net sales, despite the impact of department store closures, sales contributions from stores opened during the previous fiscal year and strong sales of fresh confectionery resulted in net sales for the first quarter cumulative period of ¥8,150 million, up 1.0% year on year.」
The impact of declining sales due to department store closures continued to be disclosed, but contributions from recently opened stores and fresh confectionery sales resulted in company-wide sales increasing 1.0% year on year. - FY2019-Q3RestatedAnnual report
「As for net sales, although summer campaigns and semi-fresh confectionery remained firm, sales were also affected by store closures and shortened operating hours due to natural disasters such as the typhoons in September. Net sales for the nine-month cumulative period were ¥18,892 million, down 0.6% year on year.」
The impact of department store closures on sales continued to be disclosed, and store closures and shortened operating hours due to natural disasters also contributed to company-wide sales declining 0.6% year on year. - FY2019-Q2RestatedAnnual report
「In addition to the impact of department store closures, the February Valentine’s season was somewhat weak due to the cold wave and other factors,」
The impact of the decline in sales due to department store closures continued to be disclosed. - FY2019-Q1RestatedAnnual report
「As for net sales, in addition to the impact of department store closures, sales in the February Valentine’s season were somewhat weak due to the cold wave and other factors. As a result, net sales for the first quarter cumulative period were ¥8,070 million, down 2.0% year on year.」
The impact of department store closures on sales continued to be disclosed. The cold wave and weak Valentine’s season also weighed on results, with company-wide sales down 2.0% year on year. - FY2018WorsenedAnnual report
「However, the environment surrounding the company going forward is not considered conducive to optimism, given weak consumer spending, concerns about further department store closures, the impact of the consumption tax rate increase scheduled for October 2019, and concerns about higher raw material prices.」
In addition to the existing impact of department store closures on sales, the company explicitly identifies concerns about further store closures, indicating a broader range of future risks. - FY2018-Q3RestatedAnnual report
「As for net sales, although there was a decline due to department store closures,」
The decline in sales due to department store closures continued to be identified as a factor affecting performance. On the other hand, event-related sales campaigns and product sales resulted in company-wide sales increasing 1.2% year on year. - FY2018-Q2First statedAnnual report
「Although there was a decline due to department store closures,」
The decline in sales due to department store closures is identified for the first time as an actual factor affecting performance. This was offset by event-related sales campaigns and product sales, resulting in company-wide sales increasing 1.8% year on year.