Profit pressure from opening-related costs for the Ginza flagship store
First written in FY2017-Q3. 9 of 19 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
7 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual reportThe current filing contains no direct statement that opening-related or maintenance costs for the Ginza flagship store are putting pressure on earnings.
- FY2022MitigatedAnnual report
「SG&A expenses increased by ¥27 million, or 0.5%, year on year, remaining broadly at the same level, as lower personnel expenses and rents resulting from the smaller store network and more efficient promotional spending offset other factors.」
Despite higher outsourced DX costs, the company kept SG&A expenses broadly at the same level through lower personnel expenses and rents resulting from the smaller store network and more efficient promotional spending. - FY2022-Q3MitigatedAnnual report
「SG&A expenses declined by ¥57 million, or 1.5%, year on year, as the company reduced fixed costs, including personnel expenses and store rents, through a reduction in the number of stores and improved promotional efficiency.」
The company continued to reduce the burden of SG&A expenses, including store-related costs, through a smaller store network, lower fixed costs and more efficient promotional spending. - FY2022-Q2MitigatedAnnual report
「SG&A expenses declined by ¥143 million, or 5.2%, year on year, as the company reduced fixed costs, including personnel expenses and store rents, through a reduction in the number of stores and thoroughly implemented low-cost operations, including more efficient promotional spending.」
The company reduced the burden of SG&A expenses, including store-related costs, through a smaller store network, lower rents and personnel expenses, and more efficient promotional spending. - FY2021MitigatedAnnual report
「Store-related expenses declined substantially as the company continued to withdraw from unprofitable stores and review contractual terms with developers.」
The company states that store-related expenses declined substantially as it continued to withdraw from unprofitable stores and review contractual terms. - FY2021-Q2MitigatedAnnual report
「In addition to lower store rents resulting from the continued withdrawal from unprofitable stores and renegotiation of contractual terms with developers, store-related expenses declined substantially, partly because depreciation decreased following impairment losses recognized for some stores in the fiscal year ended August 2020.」
Store-related expenses were reduced through store restructuring, including the closure of the flagship store and withdrawal from unprofitable stores, as well as rent negotiations. - FY2021-Q1MitigatedAnnual report
「On 25 December 2020, the company closed フェスタリア ビジュソフィア ギンザ (Ginza flagship store), which had previously served as its flagship store.」
In response to the opening-related and maintenance costs of the Ginza flagship store, the company decided to close it and carried out the closure on 25 December 2020. - FY2020MitigatedAnnual report
「Due to the declining ability of shopping centers and other commercial facilities to attract customers, the company decided to close 10 unprofitable stores and reduce fixed costs, mainly store-related expenses, while」
In response to earnings pressure from new store openings and store maintenance costs, the company decided to close 10 unprofitable stores and took steps to reduce fixed costs. - FY2020-Q2RestatedAnnual report
「Regarding expenses, higher personnel expenses associated with the increase in the number of stores, expenses for new store openings and refurbishments, and higher store rents were the main factors. SG&A expenses increased by ¥90 million, or 2.8%, year on year to ¥3,265 million.」
Personnel, rent and other costs associated with new store openings, refurbishments and the expansion of the store network continued, and SG&A expenses increased 2.8% year on year. - FY2020-Q1RestatedAnnual report
「Higher personnel expenses associated with the increase in the number of stores, expenses for new store openings and refurbishments, and higher variable rent associated with increased revenue were the main factors. SG&A expenses increased by ¥73 million, or 4.6%, year on year to ¥1,669 million.」
Costs associated with new store openings, store refurbishments and store maintenance continue to contribute to higher SG&A expenses. - FY2019RestatedAnnual report
「Regarding expenses, although there were cost increases, including expenses for expanding new store openings and refurbishing stores, as well as costs incurred in transferring logistics functions to external providers,」
While costs associated with new store openings, store refurbishments and outsourcing logistics functions continued, total SG&A expenses declined. - FY2019-Q3RestatedAnnual report
「Although there were cost increases, including expenses for expanding new store openings and refurbishing stores, as well as costs incurred in transferring logistics functions to external providers,」
Costs associated with new store openings, store refurbishments and outsourcing logistics functions continue to be incurred. - FY2019-Q2RestatedAnnual report
「Although there were cost increases, including expenses for expanding new store openings and refurbishing stores, as well as costs incurred in transferring logistics functions to external providers,」
Although costs associated with new store openings, store refurbishments and outsourcing logistics functions continue to be incurred, total SG&A expenses declined due to more efficient promotional activities and other measures. - FY2018RestatedAnnual report
「SG&A expenses increased substantially, rising 5.0% from the previous fiscal year, due in part to higher store maintenance costs, including personnel and administrative expenses, associated with new store openings and expansions.」
Store maintenance costs, including personnel and administrative expenses associated with new store openings and expansions, continue to contribute to higher SG&A expenses. - FY2018-Q3RestatedAnnual report
「In terms of profit, selling, general and administrative expenses increased substantially, by 7.8% year on year, due to higher web-focused promotional costs, additional investment in building the system following the postponement of operation of the new core system, higher external support costs aimed at early full operation, and increased personnel and other maintenance costs associated with store openings and expansions centered on “festaria bijou sophia Ginza.”」
Personnel and maintenance costs associated mainly with opening and expanding the Ginza flagship store continue to contribute to higher SG&A expenses. - FY2018-Q2RestatedAnnual report
「Due in part to increased costs associated with the opening of “フェスタリア ビジュソフィア ギンザ,” including capital expenditures and fixed rent, SG&A expenses increased substantially, rising 9.8% year on year.」
Capital expenditures, fixed rent and other costs for the Ginza flagship store continue to contribute to higher SG&A expenses. - FY2018-Q1RestatedAnnual report
「In addition to capital expenditures and fixed rent associated with the March 2017 opening of the street-level store on Ginza Chuo-dori, “フェスタリア ビジュソフィア ギンザ,” depreciation increased following the introduction of a new core operating system.」
The company states that it continues to incur costs associated with capital expenditures and fixed rent for the Ginza flagship store. - FY2017MaterialisedAnnual report
「In addition to spending on various promotions associated with the opening of Festaria Bijou Sophia Ginza, higher depreciation expenses from capital investment and increased rent and other costs resulted in a 2.7% year-on-year increase in SG&A.」
Costs associated with opening the Ginza flagship store, including promotional expenses, depreciation and rent, were incurred and increased SG&A expenses for the full year. - FY2017-Q3First statedAnnual report
「In addition to spending on various promotions, including the opening event and train advertising for Festaria Bijoux Sophia Ginza, higher depreciation from capital investment and higher fixed rent placed pressure on results. SG&A expenses rose 1.4% year on year. As a result, consolidated operating income fell 55.0% year on year.」
Higher promotion costs, depreciation and fixed rent associated with opening the Ginza flagship store created an actual cost burden, reflected in higher SG&A expenses and a 55.0% year-on-year decline in operating income.