Impact of the COVID-19 Pandemic on Store Operations and Business Performance
First written in FY2020. 4 of 17 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026.
UOGroup 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.
12 other companies' latest entry also says "Dropped".
- FY2026DroppedAnnual reportThe independent risks to earnings from reduced operating hours, store closures and declining customer numbers due to the spread of COVID-19 are not expressly identified among the business and other risks for the fiscal year.
- FY2025-Q1SoftenedAnnual report
「During the three-month period ended 31 May 2024 (1 March 2024 to 31 May 2024), the economy gradually recovered, driven by increased human mobility against a backdrop of normalized social and economic activity following the containment of COVID-19 and expanding inbound demand due to the increase in visitors to Japan.」
The company notes the containment of COVID-19, the normalization of social and economic activity and the expansion of inbound demand, indicating that the risk of earnings impacts centered on the spread of infection and operating restrictions has diminished further. - FY2024SoftenedAnnual report
「During the fiscal year ended 29 February 2024 (1 March 2023 to 29 February 2024), the Japanese economy was gradually recovering, with domestic consumption supported by the containment of COVID-19, the lifting of restrictions on activities and the recovery in inbound demand.」
The company notes the containment of infectious diseases, the lifting of restrictions on activities and the recovery in inbound demand, indicating that the previously identified risk of earnings impacts centered on the spread of infection and operating restrictions has diminished further. - FY2024-Q3SoftenedAnnual report
「During the nine-month period ended 30 November 2023 (1 March 2023 to 30 November 2023), the Japanese economy was gradually recovering as domestic consumption, particularly in the customer-service sector, recovered with the containment of COVID-19 and the lifting of restrictions on activities.」
The company notes the containment of COVID-19, the lifting of restrictions on activities and the recovery in domestic consumption, indicating that the previously identified risk of earnings impacts centered on the spread of infection and operating restrictions has diminished. - FY2024-Q2RestatedAnnual report
「During the first six months of the fiscal year ending 29 February 2024 (1 March 2023 to 31 August 2023), restrictions on activity intended to prevent the spread of COVID-19 were eased, and personal consumption showed signs of recovery as social and economic activity normalized. However, soaring resource prices and inflation driven by heightened geopolitical risks continued, and the outlook remained uncertain.」
While noting the easing of restrictions on activities and the normalization of social and economic activity, the company continues to recognize that uncertainty in the economic environment, including the impact of infectious diseases, persists. - FY2023-Q3ReframedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, from 1 March 2022 to 30 November 2022, social and economic activity showed signs of moving toward normalization as restrictions on activities were eased, despite the prolonged impact of COVID-19.」
While the impact of the pandemic continued for an extended period, the disclosure describes social and economic activity moving toward normalization as restrictions on activities were eased, revising the previous risk focus centered on the spread of infections and operating restrictions. - FY2023-Q2ReframedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, from 1 March 2022 to 31 August 2022, the Japanese economy showed signs of recovery as economic activity improved with the decline in the risk of severe illness amid the impact of COVID-19, although renewed spread of infections due to variants remained a concern.」
The disclosure indicates signs of recovery due to the decline in the risk of severe illness and improvement in economic activity, while identifying renewed spread of infections due to variants as a new concern. - FY2023-Q1ReframedAnnual report
「Although economic activity showed signs of recovery as the rising vaccination rate led to eased restrictions on activities and the decline in infections improved economic activity, there is still no clear outlook for the pandemic to subside, and the outlook remains uncertain.」
While acknowledging the improvement in economic activity resulting from vaccinations and eased restrictions on activities, the company continues to recognize the risk that the outlook for the pandemic remains uncertain, with no clear prospect of its subsiding. - FY2022RestatedAnnual report
「As the Group has many tenant outlets in department stores and other facilities, the spread of COVID-19 has created numerous uncertainties, including reduced operating hours, temporary closures and a decline in customer numbers due to requests to refrain from going out. Although the pandemic appeared to be subsiding as vaccination spread, the expansion of new variants remained a concern. If the situation worsens or continues for an extended period, it is expected to have a greater impact on the economic environment, including department stores and other facilities, and may affect the Group's business performance in the following fiscal year.」
While acknowledging a trend toward convergence due to vaccinations, the company continues to recognize the risk that the spread of variants, reduced operating hours, temporary closures and declining customer numbers could affect business performance in the following fiscal year. - FY2022-Q3ReframedAnnual report
「During the first nine months of the fiscal year ended 28 February 2022 (1 March 2021 to 30 November 2021), the Japanese economy remained uncertain. The number of COVID-19 infections, which peaked in August, began to decline in September, the state of emergency was lifted at the end of September, the Kishida administration was inaugurated in October, and the new Omicron variant began spreading globally in November. Due to concerns about the highly transmissible Omicron variant entering Japan, economic activity is expected to continue while monitoring infection trends.」
While the operating environment changed as the number of infections declined and the state of emergency was lifted, the global spread of the Omicron variant and concerns about its entry into Japan were identified as new infectious disease risks. - FY2022-Q2WorsenedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, from 1 March 2021 to 31 August 2021, the number of COVID-19 cases in Japan initially declined and the state of emergency was lifted except in Okinawa Prefecture. However, cases rose sharply during the fifth wave, the state of emergency was reintroduced mainly in major metropolitan areas, and the number of cases peaked in late August.」
The disclosure cites the sharp increase in cases during the fifth wave, the reintroduction of the state of emergency and the peak in late August, indicating the progression of the risk of uncertain economic activity as infection trends were closely monitored. - FY2022-Q1RestatedAnnual report
「In domestic consumption, commercial facilities closed and reduced their operating hours amid the COVID-19 pandemic, while consumption at home increased as people responded to requests to refrain from going out.」
The company continues to recognize that, while commercial facility closures and reduced operating hours continued amid the COVID-19 pandemic, consumption at home increased as people refrained from going out. - FY2021MaterialisedAnnual report
「In the food-service business, some outlets were forced to suspend operations or reduce operating hours as COVID-19 spread, and difficult conditions continued. As a result, revenue was ¥675 million, down 30.9% year on year.」
The impact of suspended operations and reduced operating hours due to the pandemic was reflected in the annual results, with food-service revenue declining 30.9% and the segment posting a loss of ¥18 million. - FY2021-Q3MaterialisedAnnual report
「COVID-19 infections began spreading again in November, and the outlook remains uncertain.」
Amid continued uncertainty following the renewed spread of infections, food-service revenue declined 31.5% year on year and the segment posted a loss of ¥15 million, showing that the impact of the pandemic continued to affect results. - FY2021-Q2MaterialisedAnnual report
「The food-service business performed poorly due to requests to refrain from going out and the disappearance of inbound demand.」
The impact of continued requests to refrain from going out and the disappearance of inbound demand amid the spread of COVID-19 persisted, with food-service revenue of ¥307 million, down 37.2% year on year, and a segment loss of ¥22 million. - FY2021-Q1MaterialisedAnnual report
「The business environment became challenging due to the impact of temporary closures and reduced operating hours at department stores, station buildings and other commercial facilities. Revenue in the food-service business was ¥128 million, down 48.1% year on year, and the segment posted a loss of ¥21 million, compared with segment profit of ¥23 million in the same quarter of the previous year.」
The impact of temporary closures and reduced operating hours at commercial facilities due to COVID-19 materialized, with food-service revenue declining 48.1% and the segment posting a loss. - FY2020First statedAnnual report
「As the Group has many tenant outlets in department stores and other facilities, the spread of COVID-19 has created numerous uncertainties, including reduced operating hours, temporary closures and a decline in customer numbers due to requests to refrain from going out. If the situation worsens or continues for an extended period, it is expected to have a greater impact on the economic environment, including department stores and other facilities, and may affect the Group's business performance in the following fiscal year.」
For the first time, it explicitly identifies reduced operating hours, temporary closures and a decline in customer numbers due to requests to refrain from going out amid the spread of COVID-19 as independent risks that could affect business performance in the following fiscal year.