Transition to a bridal sales structure and decline in wedding revenue
First written in FY2018-Q1. 3 of 6 entries say "Worsened", first in FY2018-Q2. Latest entry: FY2021.
No other company in this theme has enough history to compare yet.
- FY2021DroppedAnnual reportThe current year’s discussion of business performance and business risks contains no separate disclosure concerning the transition of the bridal sales structure or the decline in wedding revenue.
- FY2019-Q1RestatedAnnual report
「The XEX Group, which operates the luxury restaurant business including “XEX,” maintained steady sales at existing stores due to increased inbound demand and ongoing efforts to strengthen sales. However, the number of restaurant weddings and revenue declined from the same period of the previous year at some stores.」
While regular operations at existing stores were described as steady, the number of restaurant weddings and revenue declined year on year at some stores, as previously reported. - FY2018WorsenedAnnual report
「The XEX Group, which operates the luxury restaurant business including “XEX,” maintained steady sales from regular operations due to increased inbound demand and ongoing efforts to strengthen sales. However, as the effects of the transition to a new bridal sales structure continued to fall short of expectations, the number of restaurant weddings and revenue declined from the same period of the previous year. As a result, the group’s revenue for the fiscal year was ¥4,433 million, down 2.8% year on year, and operating profit was ¥185 million, down 39.5%.」
The effects of the transition to a new bridal sales structure continued to fall short of expectations, and the decline in weddings continued, resulting in a 39.5% decline in the XEX Group’s full-year operating profit. - FY2018-Q3WorsenedAnnual report
「The XEX Group, which operates the luxury restaurant business including “XEX,” maintained steady sales from regular operations as a result of ongoing efforts to strengthen sales. However, as the effects of the transition to a new bridal sales structure continued to fall short of expectations, the number of restaurant weddings and revenue declined from the same period of the previous year.」
The effects of the transition to a new bridal sales structure continued to fall short of expectations, and the number of restaurant weddings and revenue declined year on year. The XEX Group’s operating profit also declined 50.3%. - FY2018-Q2WorsenedAnnual report
「The XEX Group, which operates the luxury restaurant business including “XEX,” maintained steady sales from regular operations as a result of ongoing efforts to strengthen sales. However, as the effects of the transition to a new bridal sales structure continued to fall short of expectations, the number of restaurant weddings and revenue declined from the same period of the previous year.」
The effects of the transition to a new bridal sales structure continued to fall short of expectations, resulting in year-on-year declines in the number of restaurant weddings and revenue. - FY2018-Q1First statedAnnual report
「The XEX Group, which operates the luxury restaurant business including “XEX,” maintained steady sales at existing stores as a result of ongoing efforts to strengthen sales. However, as the effects of the transition to a new bridal sales structure fell short of expectations, the number of restaurant weddings and revenue declined from the same period of the previous year.」
Although the bridal sales structure was transitioned, its effects fell short of expectations, resulting in year-on-year declines in the number of restaurant weddings and revenue.