Declining store traffic and store closures due to the spread of COVID-19
First written in FY2020-Q2. 8 of 18 entries say "Softened", first in FY2022-Q1. Latest entry: FY2024-Q3.
Happiness and D 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 91 companies on the "Worse" side.
7 other companies' latest entry also says "Softened".
- FY2024-Q3SoftenedAnnual report
「While COVID-19 had nearly subsided, tourism demand was showing signs of recovery and the stock market remained firm,」
The description of COVID-19 has shifted from the previous focus on the continuing impact and constraints on store operations to stating that the infection has nearly subsided, with a recovery in tourism demand also indicated. - FY2024-Q2RestatedAnnual report
「During the six months ended the second quarter, the environment surrounding the Group remained challenging and the economic outlook uncertain. The effects of COVID-19 subsided and tourism demand began to recover, while the stock market remained firm. However, the Russia-Ukraine situation was prolonged, the confrontation between Israel and Palestine intensified, and high raw-material costs and persistently weak yen levels continued to drive up prices in general.」
The impact of the infection has subsided, and a recovery in tourism demand is indicated. This reconfirms an improvement from the previous impact, which centered on store closures. - FY2024-Q1SoftenedAnnual report
「While the impact of COVID-19 subsided and signs of recovery emerged in tourism demand and other areas,」
The description of the impact of COVID-19 has softened from the previous focus on store closures and fewer visitors to wording indicating that the impact has subsided and tourism demand is recovering. - FY2023SoftenedAnnual report
「Estimates have been prepared on the assumption that the impact of COVID-19 will be limited.」
The accounting estimates assume a limited impact from the infection, further softening the wording from the previous focus on store closures and fewer visitors. - FY2023-Q3SoftenedAnnual report
「With COVID-19 being reclassified as a Class 5 disease in May and restrictions on activities and border controls eased, conditions emerged in which a moderate economic recovery was expected.」
The reclassification of COVID-19 as a Class 5 disease and the easing of restrictions on activities and border controls softened the wording from the previous focus on store closures and reduced operating hours. - FY2023-Q2RestatedAnnual report
「Although the effects of COVID-19 remained, a moderate economic recovery was expected as restrictions on activities and border controls were eased.」
The company reaffirmed wording largely unchanged from the previous quarter, stating that a moderate economic recovery was expected as restrictions on activities and border controls were eased, although the effects of COVID-19 remained. - FY2023-Q1SoftenedAnnual report
「During the cumulative first-quarter period, Japan's economy was expected to recover moderately as restrictions on activities and border controls were eased, although the effects of COVID-19 remained.」
Although the effects of COVID-19 remained, the easing of restrictions on activities and border controls led to wording indicating expectations for an economic recovery, suggesting that the impact had eased somewhat from the previous fiscal year, when store closures and reduced hours were the main issues. - FY2022SoftenedAnnual report
「During the fiscal year, no stores were temporarily closed in response to requests from the government or local authorities concerning the spread of COVID-19, and no store-closure losses were incurred.」
The store-closure losses and large-scale temporary closures incurred in the previous fiscal year did not occur during the current fiscal year. However, the future risk of shopping-center closures and shorter operating hours due to the spread of COVID-19 continued to be disclosed. - FY2022-Q3SoftenedAnnual report
「During the cumulative third quarter period, Japan's economy was expected to recover gradually as the number of novel coronavirus infections declined and restrictions on activities were fully lifted. However, the retail industry continues to face a severe and uncertain operating environment due to growing concerns over inflation caused by Russia's invasion of Ukraine and the rapid depreciation of the yen.」
The decline in infections and the full lifting of restrictions on activities brought some improvement in the external environment compared with the renewed spread of COVID-19 and its impact on store traffic through the previous quarter, and the wording shifted to indicate expectations for a moderate economic recovery. However, the challenging operating environment and uncertainty over the outlook continued. - FY2022-Q2WorsenedAnnual report
「During the six months ended the second quarter, a gradual economic recovery was expected in Japan due to increased COVID-19 vaccination and the easing of restrictions, but the spread of a new variant led to the issuance of priority preventive measures in regions across the country, and the retail industry continued to face a challenging operating environment, including an impact on customer traffic.」
The spread of a new variant and the implementation of priority preventive measures to prevent the spread of the disease continued to affect store traffic, making the impact of infection risks apparent again. - FY2022-Q1SoftenedAnnual report
「During the cumulative first-quarter period, Japan's economy was expected to recover moderately as vaccinations against COVID-19 increased and restrictions were eased, but the outlook remained uncertain. In the retail industry, consumer activity was on a recovery trend but had not recovered sufficiently, and the challenging operating environment continued.」
The company indicated a recovery trend driven by increased vaccinations and eased restrictions, and the external environment improved somewhat from the store closures and reduced hours under the previous period's state of emergency. However, the recovery remained insufficient and the challenging environment continued. - FY2021WorsenedAnnual report
「During the fiscal year, COVID-19 spread again, with a second state of emergency declared in January and a third in April. Many of our stores were forced to close or shorten their hours from late April through the end of May. In May, including the Golden Week holiday period, 2 stores were closed all day, 14 were closed on Saturdays and Sundays, 17 operated on reduced hours, and 47 operated normally, resulting in a significant impact. In addition, a fourth state of emergency was declared from mid-July through August, with the affected areas expanded and the period extended.」
Following the second and third declarations, a fourth state of emergency was also declared, and store closures and shorter operating hours continued throughout the fiscal year. In May, 33 stores were either closed or operated on reduced hours, making the impact on store operations more pronounced. - FY2021-Q3WorsenedAnnual report
「During the cumulative nine-month period, COVID-19 spread again, with a second state of emergency declared in January and a third in April. Many of our stores were forced to close or shorten their hours from late April through the end of May. In May, including the Golden Week holiday period, 2 stores were closed all day, 14 were closed on Saturdays and Sundays, 17 operated on reduced hours, and 47 operated normally, resulting in a significant impact.」
The second and third states of emergency, declared as COVID-19 spread again, led to renewed store closures and shorter operating hours. In May, a total of 33 stores were affected by closures or reduced hours, making the impact on store operations more pronounced. - FY2021-Q2WorsenedAnnual report
「During the six months ended the second quarter, the resurgence of COVID-19 and the reissuance of the state of emergency declaration in 11 prefectures and cities created a challenging operating environment, with many of the Company's stores forced to shorten their opening hours in January and February.」
The renewed spread of COVID-19 and the reissuance of states of emergency in 11 prefectures and metropolitan areas led to shorter operating hours at many stores, with the impact on store operations continuing and becoming more severe. - FY2021-Q1WorsenedAnnual report
「COVID-19 began spreading again from the summer onward, further slowing economic activity and increasing calls for people to refrain from going out, and the challenging situation continued. In the retail industry in particular, although signs of a temporary recovery emerged as a result of various economic stimulus measures, including the government's Go To campaign, the renewed spread of COVID-19 caused personal consumption to decline again, and the challenging operating environment continued.」
The renewed spread of COVID-19 further slowed economic activity and increased calls for people to refrain from going out, causing personal consumption, which had shown signs of a recovery, to decline again. - FY2020WorsenedAnnual report
「From late February 2020, some commercial facilities where our stores operated shortened their hours, and the number of stores temporarily closed increased from March through April 2020. In mid-April 2020, after the declaration of a state of emergency, all our stores were temporarily closed as operations were suspended. Following the lifting of the state of emergency in May 2020, all our stores that had been temporarily closed resumed operations on 1 June 2020.」
All stores were temporarily closed due to the spread of the infection and later all stores resumed operations. The impact became evident in full-year results, including a store-closure loss of ¥115 million and a 15.3% decline in sales. - FY2020-Q3WorsenedAnnual report
「Sales declined as consumer sentiment weakened due to requests to refrain from going out to prevent the spread of COVID-19, shorter operating hours and temporary store closures. The timing of a resolution remains uncertain.」
All stores were temporarily closed in mid-April, affecting all 86 stores. Sales fell 22.1% year on year in April and 33.8% in May, and a store-closure loss of ¥115 million was recorded, making the impact of the spread of COVID-19 more specific and severe. - FY2020-Q2MaterialisedAnnual report
「However, the situation changed completely as a result of the spread of COVID-19, making a slowdown in economic activity unavoidable. The retail industry was particularly hard hit, creating an extremely challenging operating environment.」
The spread of COVID-19 caused economic activity to slow, requests for people to refrain from going out, shorter shopping-center hours and a decline in store traffic. Subsequent events also recorded the suspension of operations at 27 of 86 stores.