Continuous Improvement in Operating Efficiency Through Process Improvement and Human-Resource Development

「On the cost side, although expenses continued to rise overall, particularly personnel costs, due to new store openings and investments in refurbishing existing stores, the ratio of selling, general and administrative expenses to net sales improved because company-wide sales remained solid. Consequently, operating profit for the consolidated fiscal year increased from the previous year.」

「In terms of profitability, although we advanced initiatives to improve profitability, the gross margin declined from the previous year as we strengthened activities to stimulate demand and promote purchases in response to persistent consumer frugality, and increased inventory clearance, particularly for apparel, where sales remained soft. On the cost side, the ratio of selling, general and administrative expenses to net sales rose from the previous year due to higher costs, particularly personnel expenses, as well as the burden of opening a cumulative total of 8 new stores and refurbishing existing stores.」

「In terms of profitability, the gross margin improved significantly from the previous fiscal year as inventory conditions improved and sales remained solid. Although selling, general and administrative expenses increased in absolute terms due to the higher store count and increases in personnel and logistics costs, we maintained rigorous cost control in line with sales trends, improving the ratio of selling, general and administrative expenses to net sales. Consequently, operating profit for the interim consolidated accounting period exceeded the previous year.」

「Selling, general and administrative expenses increased significantly from the previous year due to investments in 15 new stores, including flagship stores, the launch of a new warehouse and store-system updates, as well as the recent rise in personnel costs. Consequently, operating profit for the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined as we accelerated clearance of aged inventory in certain categories and seasonal products such as apparel saw sluggish early-season sales, resulting in activity centred on clearance sales. Selling, general and administrative expenses increased from the previous year due to higher personnel and other costs, the opening of 13 stores including a flagship store, the launch of a new warehouse and updates to store systems. Consequently, operating profit for the nine months ended the third quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined as we proceeded with clearing aged inventory in certain categories and regular-price sales of autumn/winter products remained sluggish. Selling, general and administrative expenses exceeded the previous year due to higher personnel and other costs, the opening of 7 stores including a flagship store, development of the logistics network and updates to store systems. Consequently, operating profit for the six months ended the second quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined because sales increased in slow-moving categories to promote purchases and we proceeded with clearing aged inventory. Selling, general and administrative expenses increased from the previous year due to the opening of 5 stores, including a flagship store, development of logistics facilities, updates to store systems and higher personnel and other costs. Consequently, the operating loss for the three months ended the first quarter of the consolidated fiscal year widened from the previous year.」

「In terms of profitability, the gross margin declined as we proceeded with clearing excess and aged inventory and were affected by higher costs for private-label products. Selling, general and administrative expenses exceeded the previous year because expenses for stores opened in the previous fiscal year increased, while various costs, particularly utilities, also rose. Consequently, operating profit for the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined because we proceeded with clearing slow-moving items and were affected by higher costs for private-label products. Selling, general and administrative expenses exceeded the previous year because expenses for stores opened in the previous fiscal year increased and various costs, particularly utilities, rose. Consequently, operating profit for the nine months ended the third quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined as we proceeded with inventory clearance and were affected by higher costs for private-label products. Selling, general and administrative expenses exceeded the previous year because expenses for stores opened in the previous fiscal year increased, while various costs, particularly utilities, also rose. Consequently, operating profit for the six months ended the second quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined because we implemented numerous markdown campaigns to compete with rivals and clear inventory. Selling, general and administrative expenses exceeded the previous year because expenses for stores opened in the previous fiscal year increased and various costs, particularly utilities, rose. Consequently, operating profit for the three months ended the first quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin remained low because we implemented numerous markdown campaigns to promote purchases in response to lower demand caused by restrictions on activities and other factors, as well as changes in the competitive environment. Selling, general and administrative expenses exceeded the previous year due to continued refurbishment of existing stores and strengthening of e-commerce, as well as expenditures for new store openings. Consequently, operating profit for the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin declined because we held a sale commemorating our 50th anniversary and implemented markdown campaigns to stimulate consumption amid weak demand. Selling, general and administrative expenses exceeded the previous year due to continued refurbishment of existing stores and strengthening of e-commerce, as well as expenditures for new store openings. Consequently, operating profit for the nine months ended the third quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, as demand remained weak, we secured sales through markdowns and promoted inventory clearance, resulting in a lower gross margin. Although we incurred expenditures to improve future profitability, including refurbishing existing stores and strengthening e-commerce, selling, general and administrative expenses fell below the previous year as a result of prudent cost control based on the COVID-19 situation and sales trends. Consequently, operating profit for the six months ended the second quarter of the consolidated fiscal year fell below the previous year.」

「In terms of profitability, the gross margin deteriorated as markdown sales increased in response to sluggish sales caused by the declaration of a state of emergency and unfavourable weather. Although we proceeded with prudent expense use in light of the spread of COVID-19, selling, general and administrative expenses exceeded the previous year because we incurred expenditures to improve future profitability, including refurbishing existing stores and strengthening e-commerce. As a result, operating profit fell below the previous year.」

「In terms of profitability, maintaining reduced inventory levels decreased clearance sales and made selling-price controls easier, resulting in an improved gross margin. In addition, selling, general and administrative expenses decreased across the board, particularly personnel, promotional and advertising expenses, as a result of lower expense levels through improved operations and prudent expense use in light of the continued spread of COVID-19. Consequently, operating profit significantly exceeded the previous year.」

「In terms of profitability, maintaining reduced inventory levels decreased clearance sales and made selling-price controls easier, resulting in an improved gross margin. In addition, given the continued spread of COVID-19, we used expenses prudently and reduced expense levels across the board, particularly personnel, promotional and advertising expenses, through expense reviews prompted by the pandemic. As a result, operating profit significantly exceeded the previous year.」

「In terms of profitability, the gross margin continued to improve through appropriate selling-price controls. Selling, general and administrative expenses were also restrained overall as a result of reviewing expense levels following the COVID-19 pandemic. Consequently, operating profit significantly exceeded the previous year.」

「In terms of profitability, in addition to total net sales exceeding the previous year, the recovery trend in the gross margin, which had been declining for some time, continued. Together with our ability to restrain selling, general and administrative expenses, particularly personnel expenses, this resulted in operating profit significantly exceeding the previous year.」

「In terms of profitability, although the gross margin deteriorated against a backdrop of intensifying price competition with competitors and e-commerce, net sales significantly exceeded the previous year. Together with the effects of controlling personnel and other costs, this resulted in operating profit exceeding the previous year.」

「In terms of profitability, amid intense price competition with competitors and e-commerce, the gross margin deteriorated as markdowns took priority in order to secure sales. Although we controlled personnel and advertising expenses, we reported an operating loss.」

「In terms of profitability, amid challenging market conditions, the gross margin deteriorated as markdowns took priority in order to secure sales. Although we controlled advertising and other expenses, operating profit fell below the previous year.」

「In terms of profitability, amid challenging market conditions, the gross margin deteriorated as markdowns took priority in order to secure sales. Although we controlled advertising and other expenses, operating profit fell below the previous year.」

「In terms of profitability, although net sales remained above the previous year, the gross margin declined from the previous year because we prioritised clearing general sporting-goods and winter-sports inventory. However, by controlling personnel and advertising expenses, operating profit exceeded the previous year.」

「In terms of profitability, although net sales remained above the previous year, the gross margin declined from the previous year mainly because we prioritised clearing general sporting-goods inventory. Despite controlling personnel and advertising expenses, operating profit fell below the previous year.」

「In terms of profitability, in addition to closing unprofitable stores and improving the efficiency of advertising expenses, we controlled personnel and other costs in response to weak sales from autumn onward. As a result, operating profit increased despite the decline in net sales. Consequently, the Group's net sales for the consolidated fiscal year were ¥220,039 million, down 1.6% year on year, and operating profit was ¥4,134 million, up 29.9%.」

「In terms of profitability, the gross margin improved as we continued to curb unnecessary discounts from the previous quarter. In addition, we carried out fundamental reviews of promotional and advertising expenses and continued to control costs in line with sales. As a result, operating profit increased despite the decline in net sales.」

「In terms of profitability, the gross margin improved as we continued to curb unnecessary discounts from the first quarter of the fiscal year. In addition, we carried out fundamental reviews of utilities, promotional and advertising expenses, and logistics costs, while continuing to control costs in line with sales. As a result, operating profit increased despite the decline in net sales.」

「In terms of profitability, the gross margin improved as markdowns were controlled. In addition, as a result of controlling selling, general and administrative expenses, personnel expenses and advertising expenses, operating profit increased.」

「In addition, we will establish a structure for reviewing work processes and developing personnel, continuously improve management efficiency through systematic initiatives, and maintain a competitive operating structure.」