Store Closures and Business Impact Due to COVID-19
First written in FY2020. 4 of 16 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2024.
Tabio moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 69 of 91 companies on the "Worse" side.
8 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「Although COVID-19 has subsided, if a large-scale pandemic occurs due to the emergence of a new virus or other cause, the provision of services may be disrupted by stalled logistics, temporary store closures or reduced operating hours.」
The description has been organized around the risk of a future pandemic caused by a new virus, while noting that COVID-19 has subsided, rather than focusing on past store closures and operating-performance impacts. - FY2024-Q2MitigatedAnnual report
「The transition of COVID-19 to a Class 5 infectious disease resulted in the lifting of restrictions on activities and entry restrictions, and economic activity moved toward normalization.」
The lifting of restrictions on activities and entry restrictions associated with COVID-19 and the progress toward normalizing economic activity have relatively reduced the impact previously caused by store closures and reduced hours. - FY2024-Q1MitigatedAnnual report
「Restrictions on activities and entry restrictions imposed to prevent the spread of COVID-19 have been eased, and signs of progress toward the normalization of economic activity have emerged.」
Regarding the previous risk of store closures and reduced hours due to COVID-19, the easing of restrictions on activities and entry restrictions and progress toward normalizing economic activity have been indicated, with the impact relatively diminished. - FY2023ReframedAnnual report
「Although COVID-19 is subsiding, if a large-scale pandemic occurs due to the emergence of a new virus or other cause, the provision of services may be disrupted by stalled logistics, temporary store closures or reduced operating hours.」
The description has shifted from past store closures and operating-performance impacts caused by COVID-19 to the risk of a future large-scale pandemic caused by a new virus or other factor, including potential impacts on logistics and store operations. - FY2023-Q3Impact of infection trends remained after restrictions on activities were liftedAnnual report
「In the domestic economy during the cumulative third quarter of the current consolidated fiscal year, signs of progress toward the normalization of economic activity have emerged as restrictions on activities were lifted and entry restrictions were eased, despite the impact of COVID-19.」
While the lifting of restrictions on activities and easing of entry restrictions are advancing the normalization of economic activity, the impact of COVID-19 remains, according to the summary. - FY2023-Q2WorsenedAnnual report
「Since late July, the market environment has been changing rapidly, affected by the sharp increase in infections during the seventh wave of COVID-19 and people refraining from going out because of the extreme heat.」
The document states that the seventh wave of infections and people refraining from going out because of the extreme heat affected actual market conditions, including the sales environment that had been recovering after restrictions on activities were lifted. - FY2023-Q1MitigatedAnnual report
「Following the lifting of quasi-emergency measures to prevent the spread of COVID-19 in late March, personal consumption showed signs of recovery.」
The lifting of restrictions on activities related to COVID-19 led to signs of a recovery in personal consumption. The impact of store closures and reduced hours through the previous year has relatively diminished. - FY2022Full-year impact of closures alongside recovery in the second halfAnnual report
「During the spring and summer merchandise season, the reissuance of the state of emergency resulted in up to more than 70 stores in Tokyo, Osaka and elsewhere being closed from late April through May, while other stores were forced to close on weekends or operate on reduced hours. ... Operating performance showed signs of recovery in the second half. EC sales continued to perform well throughout the year as the Company focused on strengthening sales through its own EC website.」
While the impact of store closures and reduced hours under the reissued state of emergency extended across the full fiscal year, operating performance showed signs of recovery in the second half, and EC sales performed well throughout the year. - FY2022-Q3MitigatedAnnual report
「Following the lifting of the state of emergency on 1 October, stores nationwide have generally returned to normal operating arrangements. EC sales have also continued to perform steadily.」
After the impact of store closures and reduced hours due to COVID-19 continued, stores nationwide generally returned to normal operations from 1 October onward, while EC sales continued to perform steadily. - FY2022-Q2RestatedAnnual report
「In addition, following the reissuance of the state of emergency related to COVID-19 on 25 April 2021, more than 70 stores in Tokyo, Osaka, Kyoto and Hyogo were closed from late April to early May. After 12 May, when the state of emergency was extended and additional areas were included, closures continued at stores in Osaka and some stores in Tokyo, while stores in other areas covered by the declaration and elsewhere operated on reduced hours or were closed on weekends.」
The impact of store closures and reduced hours due to COVID-19 continued, with closures and weekend closures or reduced hours continuing in covered areas after more than 70 stores had been closed. - FY2022-Q1MaterialisedAnnual report
「In addition, following the reissuance of the state of emergency on 25 April 2021, more than 70 stores in Tokyo, Osaka, Kyoto and Hyogo were closed from late April to early May. After 12 May 2021, when the state of emergency was extended and additional areas were included, closures continued at stores in Osaka and some stores in Tokyo, while stores in other areas covered by the declaration and elsewhere operated on reduced hours or were closed on weekends.」
The impact of COVID-19 continued, with more than 70 stores closed under the reissued state of emergency, followed by continued closures, weekend closures and reduced hours. - FY2021MaterialisedAnnual report
「During the spring and summer merchandise season of the current consolidated fiscal year, customer traffic in stores declined due to people refraining from going out and the closure of commercial facilities as a result of the spread of COVID-19, creating an extremely challenging environment for both sales and profit. In addition, following the state of emergency declared in early April 2020 in response to the spread of COVID-19, more than 260 stores, or just over 90% at the peak, were temporarily closed for more than one month. Following the lifting of the state of emergency in late May, all stores except for some stores in airports had resumed operations by early June.」
The infection risk materialized during the full fiscal year as the temporary closure of more than 260 stores for over one month, a decline in customer traffic, and deterioration in sales and profit. - FY2021-Q3RestatedAnnual report
「Following the increase in new infections from mid-November and persistently high temperatures, current in-store sales conditions are losing momentum. EC sales, meanwhile, have continued to perform well even after the reopening of physical stores, supported by initiatives to strengthen EC sales that had been undertaken while physical stores were closed.」
Even after stores reopened, in-store sales lost momentum due to the increase in new infections and other factors, while EC sales continued to perform well. - FY2021-Q2Sharp reduction in closed stores and continuing impactAnnual report
「In addition, the spread of COVID-19 resulted in a marked decline in store customer traffic from the beginning of the fiscal year. Following the state of emergency declared in early April, more than 260 stores, or just over 90% at the peak, were temporarily closed for more than one month. Following the lifting of the state of emergency in late May, all stores except for some stores in airports had resumed operations by early June.」
As a result of COVID-19, more than 260 stores were temporarily closed for over one month, while all stores except for some airport stores had resumed operations by early June. Store closures had decreased, but the decline in customer traffic and the impact on operating performance continued. - FY2021-Q1MaterialisedAnnual report
「In addition, the spread of COVID-19 resulted in a marked decline in store customer traffic from the beginning of the fiscal year. Following the state of emergency declared in early April, more than 260 stores, or just over 90% at the peak, were temporarily closed for more than one month. Following the lifting of the state of emergency in late May, the number of closed stores fell to just over 60.」
The anticipated impact of COVID-19 on operating performance at the end of the previous fiscal year materialized as a marked decline in customer traffic, the temporary closure of more than 260 stores and a substantial decline in sales. - FY2020First statedAnnual report
「As the number of stores temporarily closed has increased since the state of emergency was declared on 7 April 2020 in response to the spread of COVID-19, the financial position, operating results and cash flows of the Group from the following consolidated fiscal year onward may be materially affected. As of the filing date, it is difficult to calculate the amount of the impact.」
The spread of COVID-19 and the increase in temporarily closed stores following the state of emergency were identified as potentially having a material impact on the financial position, operating results and cash flows from the following consolidated fiscal year onward. The amount of the impact is considered difficult to calculate.