Store Closures and Reduced Consumer Spending Due to the Spread of COVID-19
First written in FY2020. 9 of 15 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2025.
Abc-Mart moved to the "Worse" side of this theme in 2025, 5 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".
- FY2025ReframedAnnual report
「For existing infectious diseases, the risk of operating restrictions due to the spread of infection has declined with the development and wider availability of vaccines, preventive medicines and treatments. However, if a new infectious disease emerges, spreads and leads to a declaration of a state of emergency, a significant decline in revenue is anticipated.」
While the risk of operating restrictions due to existing infectious diseases was assessed as having declined, the description changed to position new infectious diseases as a remaining risk. - FY2024-Q3MitigatedAnnual report
「During the first 9 months of the fiscal year ending February 2024 (1 March 2023 to 30 November 2023), efforts to bring COVID-19 under control accelerated in Japan and overseas, and consumption increased rapidly.」
As efforts to bring the pandemic under control accelerated and consumption in Japan and overseas increased rapidly, the impact of the risks of store closures and weaker consumption continues to ease. - FY2024-Q2MitigatedAnnual report
「During the first 6 months of the fiscal year ending February 2024 (1 March 2023 to 31 August 2023), efforts to bring COVID-19 under control accelerated in Japan and overseas, and consumption remained on an upward trend.」
As efforts to bring the pandemic under control accelerated and consumption was on an upward trend, the impact of the risks of store closures and weaker consumption continues to ease. - FY2024-Q1MitigatedAnnual report
「During the first 3 months of the fiscal year ending February 2024 (1 March 2023 to 31 May 2023), efforts to bring COVID-19 under control accelerated in Japan and overseas, and consumption was on an upward trend.」
As efforts to bring the pandemic under control accelerated in Japan and overseas and consumption was on an upward trend, the impact of the risks of store closures and weaker consumption eased from the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「During the first 9 months of the fiscal year ending February 2023 (1 March 2022 to 30 November 2022), customer traffic increased, particularly in major cities and tourist destinations in Japan, as the number of COVID-19 cases declined. Signs of a recovery in inbound demand also emerged, and domestic consumption continued to increase.」
The decline in infections led to increased customer traffic and signs of a recovery in inbound demand, and domestic consumption increased, easing the risks of store closures and weaker consumption due to COVID-19 from the previous fiscal year. - FY2023-Q2MitigatedAnnual report
「As this was the first summer in 3 years without restrictions on activities, demand related to visits to family and events increased, with revenue up 9.8% year on year across all stores and 7.4% at existing stores.」
Demand for visits to family and events increased during the summer without restrictions on activities, and domestic revenue increased year on year across all stores and at existing stores, easing the impact of the risks of store closures and weaker consumption from the previous fiscal year. - FY2023-Q1MitigatedAnnual report
「During the first three months of the fiscal year ending February 2023 (1 March 2022 to 31 May 2022), social and economic activity resumed as the number of COVID-19 cases declined, and the domestic economy continued on a recovery trend.」
Social and economic activity resumed as the number of infections declined, and the domestic economy began to recover. The risks of store closures and weaker consumption due to COVID-19 eased from the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「Almost all stores were able to operate normally this quarter, including reduced-hours operations, as in the second quarter. However, customer traffic declined from the previous year, and domestic store revenue fell 0.3% year on year across all stores and 0.6% at existing stores.」
Compared with the same period of the previous year, almost all stores were able to operate normally, easing the store-closure situation. However, domestic store revenue remains affected by lower customer traffic. - FY2022-Q2MitigatedAnnual report
「Nearly all stores were able to operate normally during the quarter, including shorter-hour operations, as foot traffic increased from the same period last year and commercial facilities reduced their closure measures. However, customer numbers declined as the rapid spread of coronavirus variants reduced summer vacation demand for travel and visits to hometowns.」
The scale of closures was reduced from the previous year, and almost all stores were able to operate normally this quarter, easing the store-closure situation. However, weaker demand and lower customer traffic due to variant strains remain. - FY2022-Q1MitigatedAnnual report
「As customer traffic increased from the same period of the previous year and the scale of commercial-facility closures was reduced, temporary closures were limited to slightly more than 200 stores. (In the previous year, more than half of all stores were temporarily closed for 1 to 1.5 months.)」
While more than half of all stores had been closed for 1 to 1.5 months in the same period of the previous year, temporary closures this quarter were limited to slightly more than 200 stores. However, the curtailment of operating activities continued under the third declaration of a state of emergency. - FY2021WorsenedAnnual report
「During the fiscal year, 60% of stores were temporarily closed in response to the government's declaration of a state of emergency and requests from local governments to suspend operations due to the spread of COVID-19. Fixed costs incurred during the closure period, including personnel expenses, store rent and depreciation, were recorded as extraordinary losses attributable to COVID-19.」
Temporary closures affected 60% of stores, and ¥1,389 million in fixed costs was recorded as a loss attributable to COVID-19. - FY2021-Q3WorsenedAnnual report
「Following the government's declaration of a state of emergency in April, more than half of all stores were temporarily closed to prevent the spread of COVID-19, but almost all stores resumed operations from June. A second wave of infections then arrived, causing a substantial decline in customer traffic in some areas. A third wave has arrived since the end of the quarter, raising concerns about numerous store closures due to another spread of infections, sluggish domestic consumption due to restrictions on outings, and delays in the return of inbound visitors to urban areas and tourist destinations.」
The risks of a third wave, renewed store closures, weak consumption and delayed recovery in inbound demand were indicated, following temporary closures at more than half of all stores, the resumption of operations and lower customer traffic due to the second wave. - FY2021-Q2ReframedAnnual report
「Following the government's declaration of a state of emergency in April, more than half of all stores were temporarily closed to prevent the spread of COVID-19, but almost all stores resumed operations from June.」
The situation changed from temporary closures at more than half of all stores to the resumption of operations at almost all stores from June. However, the spread of infections had not subsided, leaving risks of delayed recovery due to the loss of inbound demand and restrictions on outings. - FY2021-Q1WorsenedAnnual report
「During the quarter, more than half of all stores were temporarily closed to prevent the spread of COVID-19, with closures lasting from 1 month to 1.5 months. As a result, store revenue for the quarter was approximately 50% of the level in the same period of the previous year.」
More than half of all stores were temporarily closed for 1 to 1.5 months due to the spread of COVID-19, reducing store revenue to approximately 50% of the level in the same period of the previous year. The possibility of further closures and reduced operating hours was also indicated. - FY2020MaterialisedAnnual report
「Following the declaration of a state of emergency on 7 April 2020, more than half of all stores were temporarily closed to prevent the spread of COVID-19. As infections may continue to spread, a significant decline in revenue is expected to continue.」
The spread of COVID-19 resulted in more than half of all stores being temporarily closed after the declaration of a state of emergency, and the risk of a significant decline in revenue was identified explicitly for the first time.