Continued Demand Loss and Store Closures Due to COVID-19
First written in FY2021-Q1. 7 of 13 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2024-Q3.
Isetan Mitsukoshi Holdings 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 90 companies on the "Worse" side.
33 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「At domestic department stores, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of COVID-19-related restrictions on activity, and sales remained above both the previous-year result and the plan.」
Regarding demand loss due to the infection, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of restrictions on activity, and sales exceeded both the previous-year result and the plan. - FY2024-Q2MitigatedAnnual report
「At domestic department stores, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of COVID-19-related restrictions on activity, and sales remained above both the previous-year result and the plan.」
Regarding demand loss due to the infection, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of restrictions on activity, and sales exceeded both the previous-year result and the plan. - FY2024-Q1MitigatedAnnual report
「At domestic department stores, visitor numbers increased, particularly at stores in the Tokyo metropolitan area, due to increased demand for outings following COVID’s reclassification as a Category V infectious disease, as well as increases in domestic travelers and visitors to Japan, resulting in higher revenue and profit.」
Regarding demand loss and operating closures due to the infection, store-entry traffic increased against a backdrop of the reclassification of COVID-19 as a Class 5 disease and an increase in travelers, and department stores recorded higher revenue and profit. - FY2023-Q3MitigatedAnnual report
「At domestic department stores, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of COVID-19-related restrictions on activity, and sales remained above both the previous-year result and the plan.」
Regarding demand loss due to the infection, store-entry traffic and purchasing customer traffic recovered following the lifting of restrictions on activity, and the Company reported that domestic department store sales exceeded both the previous-year result and the plan. - FY2023-Q2MitigatedAnnual report
「At domestic department stores, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of COVID-19-related restrictions on activity, and sales remained above both the previous-year result and the plan.」
Regarding demand loss due to the infection, store-entry traffic and purchasing customer traffic recovered substantially following the lifting of restrictions on activity, and domestic department store sales exceeded both the previous-year result and the plan. - FY2023-Q1MitigatedAnnual report
「Customer traffic was on a recovery trend due to the rising COVID-19 vaccination rate and declining number of new infections, and domestic department store sales exceeded the same period of the previous year for 3 consecutive months from October to December, led by both flagship stores.」
Regarding the risk of demand loss due to the infection, the Company reported that customer traffic recovered against a backdrop of a rising vaccination rate and declining number of infections, and domestic department store sales exceeded the same period of the previous year for 3 consecutive months. - FY2022-Q3MitigatedAnnual report
「In the department store business, we continued operating under a “safe and secure” environment after October, when the state of emergency was lifted, while maintaining measures to prevent the spread of infection among customers and employees. Customer traffic was on a recovery trend due to the rising COVID-19 vaccination rate and declining number of new infections, and domestic department store sales exceeded the same period of the previous year for 3 consecutive months from October to December, led by both flagship stores.」
Against a backdrop of the lifting of the state of emergency and the rising vaccination rate, customer traffic entered a recovery trend, and domestic department store sales exceeded the same period of the previous year for 3 consecutive months from October through December. - FY2022-Q2RestatedAnnual report
「In the department store business, revenue fell substantially as stores closed or reduced their hours during the first state of emergency. After operations resumed, all stores implemented measures including thermal imaging, temperature checks, mask wearing and regular disinfection. Inbound sales remained almost nonexistent and below the previous year due to entry restrictions on international visitors to Japan, while consumption by Japanese customers began to recover in terms of both customer traffic and sales. However, customer traffic began to decline again as infections spread once more toward the end of the year, and difficult conditions continued.」
While closures and reduced hours due to the infection, the near disappearance of inbound sales and declining customer traffic due to the renewed spread of infections continued, a recovery trend in consumption by Japanese customers was also reported. - FY2022-Q1WorsenedAnnual report
「After the state of emergency was declared at the end of April, customer traffic began to decline again amid partial operations, reduced hours and the suspension of operations in high-priced merchandise areas, and sales remained sluggish. Although signs of recovery appeared after normal operations resumed, difficult-to-forecast conditions continued.」
Partial operations, reduced hours and the suspension of operations in high-priced merchandise areas following the state of emergency caused customer traffic to decline again, and sluggish sales continued. - FY2021WorsenedAnnual report
「In the department store business, revenue fell substantially as stores closed or reduced their hours during the first state of emergency. After operations resumed, all stores implemented measures including thermal imaging, temperature checks, mask wearing and regular disinfection. Inbound sales remained almost nonexistent and below the previous year due to entry restrictions on international visitors to Japan, while consumption by Japanese customers began to recover in terms of both customer traffic and sales. However, customer traffic began to decline again as infections spread once more toward the end of the year, and difficult conditions continued.」
In addition to closures and reduced hours and the near disappearance of inbound sales, domestic customer traffic declined again as infections spread once more, prolonging the impact of lost demand. - FY2021-Q3WorsenedAnnual report
「In the department store business, revenue fell substantially as stores closed or reduced their hours during the first state of emergency. After operations resumed, all stores implemented measures including thermal imaging, temperature checks, mask wearing and regular disinfection. Inbound sales remained almost nonexistent and below the previous year due to entry restrictions on international visitors to Japan, while consumption by Japanese customers began to recover in terms of both customer traffic and sales. However, customer traffic began to decline again as infections spread once more toward the end of the year, and difficult conditions continued.」
In addition to closures and reduced hours and the near disappearance of inbound sales, domestic customer traffic declined again as infections spread once more, and the impact of lost demand continued. - FY2021-Q2MaterialisedAnnual report
「In the department store business, following the state of emergency declared in April in response to the spread of COVID-19, stores were closed or operated on reduced hours or on a partial basis for approximately 2 months in April and May. Even after operations resumed, domestic consumption did not recover as the number of new infections continued to fluctuate, and inbound sales almost disappeared amid continuing restrictions on entry by international visitors to Japan. As a result, revenue remained substantially below the previous year.」
The impact on actual performance included approximately 2 months of closures and reduced hours due to the infection, the failure of domestic consumption to recover, and the near disappearance of inbound sales resulting from entry restrictions. - FY2021-Q1First statedAnnual report
「In March, inbound demand almost disappeared because of restrictions on entry into Japan by foreign nationals. From April onward, the issuance and extension of the state of emergency caused personal consumption in accommodation and food services, transportation, retail and other industries to stagnate as people refrained from going out and consumer sentiment weakened, causing a major adverse impact on corporate performance.」
The Company broke down the existing COVID-19 risks and disclosed demand loss and deterioration in performance resulting from entry restrictions, states of emergency, calls for people to refrain from going out, and weakening consumer sentiment.