Impact of COVID-19 on sales, supply and demand
First written in FY2020-Q3. 4 of 15 entries say "Mitigated", first in FY2022. Latest entry: FY2024.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2024MitigatedAnnual report
「Following the reclassification of COVID-19 as a Class 5 infectious disease, the economy remained on a gradual recovery trend, supported by inbound demand, personal consumption and a recovery in domestic demand.」
Following the reclassification of the infectious disease as a Class 5 disease, economic and social activity and inbound demand recovered, leading to higher sales of travel products. - FY2024-Q3MitigatedAnnual report
「Following the reclassification of COVID-19 as a Class 5 infectious disease, personal consumption and inbound demand recovered, and economic and social activity gradually normalized.」
Following the reclassification of COVID-19 as a Class 5 infectious disease, economic and social activity normalized and inbound demand recovered, leading to a recovery in sales of travel products. - FY2024-Q1MitigatedAnnual report
「As restrictions on movement related to COVID-19 were eased, economic activity began to recover gradually.」
As restrictions on movement were eased, economic activity began to recover, and MILESTO’s travel-related product sales reached 143% of the year-earlier level. The impact of the infectious disease on travel demand has eased in part. - FY2023RestatedAnnual report
「If a serious infectious disease such as COVID-19 occurs and spreads, it could affect our performance through declines in sales at directly operated stores, store closures and other factors.」
It continues to identify as risks the possibility of lower sales at directly operated stores, store closures and suspension of business activities due to infectious diseases, with working from home and online business meetings serving as countermeasures. - FY2023-Q2RestatedAnnual report
「Although the eighth wave of COVID-19 is spreading, the economy is expected to recover as the country transitions to a new phase of living with COVID-19 and the sharp depreciation of the yen is corrected. However, the operating environment remains challenging due to higher labor costs and raw-material prices, among other factors.」
It states that external-environment risks, including the eighth wave of the infectious disease and higher labor and raw-material costs, continue. At the same time, it expresses expectations for a transition to living with COVID-19 and a correction of the yen’s depreciation. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, Japan’s economy gradually moved toward normalization of economic and social activity. However, uncertainty remained due to the seventh wave of COVID-19, historically weak yen levels, inflation caused by higher raw-material costs, and soaring energy prices resulting from the prolonged situation in Ukraine. The economic outlook remained subject to downside risks, including fluctuations in foreign exchange and equity markets, requiring close attention.」
It states that, while economic and social activity is normalizing, uncertainties including the seventh wave of COVID-19 and downside risks to the economy continue. - FY2022MitigatedAnnual report
「The “MILESTO” travel-goods brand increased sales of various travel-related products, including carry-ons and Boston bags, as travel demand recovered and business travel opportunities increased. Backpacks with enhanced functionality to meet work-from-home demand also increased sales.」
MILESTO’s travel-related products grew as travel demand and business travel opportunities recovered, and the impact of sluggish travel demand caused by the infectious disease eased from the previous fiscal year. However, store closures and the infectious-disease risk itself continue to be disclosed in the risk section. - FY2022-Q3MILESTO sales decline amid ongoing impactAnnual report
「However, as a result of factors including the decline in travel demand during the COVID-19 pandemic and the closure of directly operated travel stores, sales of “MILESTO” were 89% of the year-earlier level.」
The effects of weaker travel demand and the closure of directly operated travel stores continued, with MILESTO sales at 89% of the year-earlier level. The impact of the infectious disease continues, but is recorded as continuing impact rather than being deemed an additional deterioration in overall risk. - FY2022-Q2Partial recovery despite ongoing impactAnnual report
「MILESTO, the travel-goods brand, recovered sales of carry-on-related products as the number of domestic travelers increased following the easing of the spread of COVID-19. However, sales of its core travel products did not recover, and MILESTO sales were 90% of the same period of the previous year.」
Sales of carry-on-related products recovered as the spread of COVID-19 eased and domestic travel increased, but weakness in the core travel products continued, resulting in MILESTO sales at 90% of the same period of the previous year. - FY2022-Q1MILESTO sales decline narrows despite ongoing impactAnnual report
「MILESTO, the travel-goods brand, increased sales of commuter bags, PC cases and other products targeting new lifestyles such as telework, but sales of travel-related products such as carry-ons remained weak due to the decline in travel demand during the COVID-19 pandemic. As a result, MILESTO sales were 75% of the same period of the previous year.」
Although weak travel demand caused by the COVID-19 pandemic continued, sales of products for new uses such as commuter bags reduced the decline in MILESTO sales, which were 75% of the same period of the previous year, compared with 43% to 48% in the most recent quarters. - FY2021-Q3MILESTO sales decline narrows slightly despite ongoing impactAnnual report
「MILESTO, the travel-goods brand, launched new products such as small commuter bags and PC cases to reflect changes in how bags are used under the new “with-COVID” lifestyle, but the impact of the spread of COVID-19 continued and sales were 48% of the same period of the previous year.」
Although weak travel demand and the impact of the spread of COVID-19 continued, the launch of small commuter bags and other products resulted in MILESTO sales at 48% of the same period of the previous year, slightly narrowing the decline from 45% in the previous quarter. - FY2021-Q2MaterialisedAnnual report
「MILESTO, the travel-goods brand, sought to recover sales by selling small bags, PC cases and other products for uses beyond travel, in line with changes in how bags are used under the new “with-COVID” lifestyle, including outings closer to home. However, the impact of the spread of COVID-19 remained significant, with directly operated airport stores continuing to be forced to close, and sales were 45% of the same period of the previous year.」
Directly operated airport stores remained closed due to the spread of COVID-19, and the recovery in travel demand was delayed, resulting in MILESTO sales at 45% of the same period of the previous year. - FY2021-Q1MaterialisedAnnual report
「MILESTO, the travel-goods brand, faced a sharp decline in travel demand due to the spread of COVID-19. Although travel demand gradually began to recover after the launch of the GO TO campaign, sales of travel-related products at directly operated stores and wholesale customer stores remained sluggish, and directly operated airport stores were closed for an extended period. Despite efforts to recover sales through promotions marking the 10th anniversary of the MILESTO brand, sales were 43% of the same period of the previous year.」
Travel demand plunged due to the spread of COVID-19, store sales remained weak and airport stores stayed closed for an extended period, resulting in MILESTO sales at 43% of the same period of the previous year. - FY2020MaterialisedAnnual report
「The impact of COVID-19 on the company’s performance was negative mainly in directly operated stores in the housing-related lifestyle products retail business, in the form of store closures. E-commerce sales in the same business, however, benefited from stay-at-home demand. As a result, sales and segment profit for the business as a whole increased year on year.」
COVID-19 led to closures and reduced hours at directly operated stores, lower travel demand and lower wholesale sales to stores, while stay-at-home demand increased e-commerce sales and Bruno sales. - FY2020-Q3First statedAnnual report
「The spread of the novel coronavirus, which originated in China, severely affected retail, food service and other businesses in Japan that mainly require customer-facing service. At the company, orders from China, which accounted for most of overseas sales, declined, while wholesale sales to customers with stores and sales at the company’s directly operated stores also decreased due to the temporary closure of commercial facilities and reduced operating hours.」
The spread of the novel coronavirus was identified for the first time as an independent company-wide external risk leading to lower overseas orders, the closure of commercial facilities and reduced operating hours, and declines in wholesale sales to stores and sales at directly operated stores. The same filing also explained that the impact was mitigated by expanding online sales and diversifying sales channels.