Impact of COVID-19 on Store Operations and Business Performance
First written in FY2020. 5 of 16 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2024-Q3.
2nd RETAILING moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 69 of 91 companies on the "Worse" side.
33 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「During the nine-month period ended in the third quarter, an environment in which the economy could circulate autonomously was established, including through the reclassification of COVID-19 as a Category 5 infectious disease. As foot traffic recovered in each region, demand for face-to-face services also recovered.」
The recovery in foot traffic and demand for face-to-face services progressed following the reclassification of COVID-19 as a Category 5 infectious disease and other factors, and the impact of the infection on the business environment was described as easing. - FY2024-Q2MitigatedAnnual report
「During the six-month period ended in the second quarter, economic activity moved toward normalization, including through the reclassification of COVID-19 as a Category 5 infectious disease under the Infectious Diseases Control Act, and the economy remained on a gradual recovery track.」
The Company stated that COVID-19 had been reclassified as a Category 5 infectious disease and that economic activity was moving toward normalization, indicating that the impact of the infection on the business environment was easing. - FY2024-Q1MitigatedAnnual report
「During the three-month period ended in the first quarter, COVID-19 was reclassified under the Infectious Diseases Control Act as a Category 5 infectious disease, and economic activity began to resume toward normalization, with an economic recovery expected.」
The Company stated that economic activity had begun to resume toward normalization following the reclassification of COVID-19 as a Category 5 infectious disease. Voluntary measures to prevent a renewed spread of infection continued, but the impact on economic activity was described as easing. - FY2023-Q3MitigatedAnnual report
「During the nine-month period ended in the third quarter, the impact of COVID-19 moved toward subsiding. As lifestyles changed and vaccines became more widely available, progress was made toward normalizing economic activity, and signs of recovery emerged in personal consumption.」
The Company stated that the impact of COVID-19 was moving toward subsiding, with economic activity normalizing and signs of a recovery in personal consumption. Meanwhile, measures to prevent a renewed spread of infection continued. - FY2023-Q2Renewed spread of infection alongside normalization of economic activityAnnual report
「During the six-month period ended in the second quarter, COVID-19 spread rapidly again, but restrictions on activity were gradually eased as lifestyles changed and vaccines became more widely available, and economic activity was gradually returning to previous levels.」
Although the infection spread rapidly again, restrictions on activity were gradually eased and economic activity moved toward normalization, with these conflicting conditions coexisting. - FY2023-Q1MitigatedAnnual report
「During the three-month period ended in the first quarter, the impact of COVID-19 gradually eased and economic activity moved toward normalization, but」
The Company stated that the impact of COVID-19 gradually eased and economic activity moved toward normalization. However, measures to prevent a renewed spread of infection continued. - FY2022RestatedAnnual report
「During the consolidated fiscal year, requests to refrain from going out to prevent the spread of COVID-19 continued. From the second half, signs of easing emerged, and consumer and economic activity showed signs of normalization. However, concerns over a renewed spread of infection caused by new variants had not been dispelled, leaving the outlook uncertain.」
During the full fiscal year, the Company continued to describe a situation in which requests to refrain from going out were eased and economic activity showed signs of normalization, while concerns over a renewed spread of new variants and an uncertain outlook remained. - FY2022-Q3Easing of requests to refrain from going out alongside concerns over new variantsAnnual report
「Although requests to refrain from going out to prevent the spread of COVID-19 continued, signs of easing emerged from around late September, and consumer and economic activity showed signs of normalization. However, concerns over a renewed spread of infection caused by new variants of COVID-19 had not been dispelled, leaving the outlook uncertain.」
Although requests to refrain from going out were eased and consumer and economic activity showed signs of normalization, concerns over a renewed spread of new variants remained, and the effects of the infection continued. - FY2022-Q3Easing of requests to refrain from going out alongside concerns over new variantsAnnual report
「Although requests to refrain from going out to prevent the spread of COVID-19 continued, signs of easing emerged from around late September, and consumer and economic activity showed signs of normalization. However, concerns over a renewed spread of infection caused by new variants of COVID-19 had not been dispelled, leaving the outlook uncertain.」
Although requests to refrain from going out were eased and consumer and economic activity showed signs of normalization, concerns over a renewed spread of new variants remained, and the effects of the infection continued. - FY2022-Q2WorsenedAnnual report
「During the six-month period ended in the second quarter, the business environment remained uncertain. Repeated declarations of a state of emergency and priority preventive measures were implemented due to the resurgence of COVID-19, economic activity was restrained by requests to refrain from going out, and the economic recovery was slow, although vaccination was progressing.」
Economic activity continued to be restrained by the resurgence of COVID-19 and repeated declarations of a state of emergency and other measures. Sales decreased 4.2% year on year, while operating profit decreased 59.1%. - FY2022-Q1WorsenedAnnual report
「The Group also responded to requests under the state of emergency and other priority measures to prevent the spread of disease by temporarily closing stores and shortening operating hours in the affected areas. Stores that continued operating provided products and services with due regard for safety, including mask wearing and alcohol disinfection, in accordance with guidance from the relevant authorities.」
Temporary store closures and shortened operating hours related to declarations of a state of emergency and other measures continued. In the first quarter, sales decreased 8.2% year on year and operating profit decreased 67.5%, as business performance continued to deteriorate under the impact of the infection. - FY2021WorsenedAnnual report
「However, if the impact of COVID-19 spreads further and becomes more prolonged, the impact on business performance could expand, including a decline in operating revenue due to fewer store visitors and store closures or shortened operating hours.」
The impact of the infection on full-year store operations, customer visits and operating revenue continued. Although sales increased, operating profit fell 57.0% year on year, and net loss attributable to owners of the parent was ¥752 million. The Company continued to disclose the possibility that the impact could become more prolonged and extensive. - FY2021-Q3MaterialisedAnnual report
「Although the impact of COVID-19 on economic activity has been prolonged, we will continue opening stores, centered on Second Street, in anticipation of an economic recovery after the effects of COVID-19 subside, while rebuilding the ゲオ shop network, including through store closures.」
The impact of COVID-19 on economic activity has been prolonged, and conditions affecting the rebuilding of the store network and store opening plans have continued. - FY2021-Q2MaterialisedAnnual report
「In the reuse business, we expect operating revenue to decline because of fewer store visitors and store closures or shortened operating hours resulting from requests to refrain from going out and other factors, but assume that demand will gradually recover toward the end of the consolidated fiscal year.」
The effects of requests to refrain from going out, fewer store visitors, and store closures or shortened operating hours due to COVID-19 have continued and have actually resulted in lower operating revenue in the reuse business. - FY2021-Q1MaterialisedAnnual report
「Against this backdrop, sales of reuse products, centered on Second Street, declined as a result of store closures, shortened operating hours and requests to refrain from going out.」
The Company stated that store closures, shortened operating hours and requests to refrain from going out related to COVID-19 had actually resulted in lower sales of reuse products during the quarter. Meanwhile, Group-wide sales and profit exceeded the same period of the previous year due to stay-at-home demand for video rentals and other products. - FY2020MaterialisedAnnual report
「In response to the spread of COVID-19, the Group formulated basic policies, gathered information from each store and other location, and thoroughly communicated countermeasures. Regarding store operations, in light of the spread of the infection and government policies, we took measures including temporarily closing some stores and shortening operating hours to protect the health and safety of customers and employees.」
The Company first disclosed in its annual risk disclosures that COVID-19 had materialized as the potential closure of stores, shortened operating hours, a decline in customer visits and a decline in operating revenue.