Ito-Yokado’s Business Structural Reform and Closure of 40 Stores

「During the fiscal year, net sales exceeded the previous year due to the merger with York Co., Ltd., but the company posted an operating loss of ¥1,205 million, compared with operating profit of ¥408 million in the previous fiscal year, due in part to higher costs associated with developing infrastructure for strategic investments.」

「During the nine-month period ended November 2023, net sales exceeded the previous year due to the merger with York Co., Ltd., but the company posted an operating loss of ¥7,031 million, compared with an operating loss of ¥5,617 million in the same period of the previous year, due in part to higher costs associated with developing infrastructure for strategic investments.」

「During the six-month period ended August 2023, tenant and other sales recovered, mainly due to the recovery in customer traffic. Same-store sales including tenants exceeded the previous year, but the company posted an operating loss of ¥2,834 million, compared with an operating loss of ¥1,669 million in the same period of the previous year, due in part to higher utilities expenses resulting from increased energy costs.」

「During the first quarter, tenant and other sales recovered, mainly due to the recovery in customer traffic. Same-store sales including tenants exceeded the previous year, but the company posted an operating loss of ¥163 million, compared with operating profit of ¥770 million in the same period of the previous year, due in part to higher utilities expenses resulting from increased energy costs.」

「In addition to the store closures under its previous business structural reforms, Ito-Yokado Co., Ltd. decided to close an additional 14 stores and will accelerate its focus on the Tokyo metropolitan area. Number of stores: 126 as of the end of February 2023, 93 as of the end of February 2026 (planned).」

「During the nine-month period ended November 2022, tenant and other sales grew, mainly due to the recovery in customer traffic and the rebound from shortened operating hours and limits on store entry in the previous year. Same-store sales including tenants exceeded the previous year, but the operating loss was ¥5,617 million, compared with an operating loss of ¥2,465 million in the same period of the previous year, due to a deterioration in the gross margin on food products and increases in utilities expenses resulting from higher fuel-cost adjustment rates, among other factors.」

「During the six-month period ended August 2022, tenant and other sales grew, mainly due to the recovery in customer traffic and the rebound from shortened operating hours and limits on store entry in the previous year. Same-store sales including tenants exceeded the previous year, but the operating loss was ¥1,669 million, compared with operating profit of ¥1,071 million in the same period of the previous year, due to a deterioration in the gross margin caused by higher raw-material prices and increases in utilities expenses resulting from higher fuel-cost adjustment rates, among other factors.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, will complete its business structural reforms during the fiscal year ending February 2023 and continue to advance its renewed-growth strategy, including centralizing its online supermarket operations, focusing on the Tokyo metropolitan area and other major urban areas, and further differentiating and monetizing its strengths in food through SPA integration, the vertical integration of planning, manufacturing and sales.」

「We will complete our business structural reforms, including closing unprofitable stores and optimizing staffing, by fiscal 2022. We will focus on a strategy for renewed growth by applying our expertise in identifying production regions, product procurement and production management, as well as our supply chain, to enhancing the Group's competitiveness and corporate value, while also strengthening Ito-Yokado Co., Ltd.'s earnings power.」

「Ito-Yokado, a general merchandise supermarket operator, continues to advance its business and store structural reforms. Food sales, which grew the previous year on stay-at-home demand, remained firm during the nine-month period ended November 2021 as the company responded to changing customer needs. Same-store sales including tenants exceeded the previous year, partly reflecting the absence of the impact of shortened operating hours and partial closures of tenant areas at Ario in the previous year. However, operating profit was a loss of ¥2,465 million, down ¥4,361 million from the nine-month period ended November 2020, partly due to the impact of fixed costs related to closures caused by the spread of COVID-19 that had been reclassified as extraordinary losses in the previous year.」

「Ito-Yokado, a general merchandise supermarket operator, continues to advance its business and store structural reforms.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, continues to advance business and store structural reforms. During the fiscal year, food sales grew in response to stay-at-home demand, but same-store sales including tenants fell below the previous year due to shortened operating hours aimed at containing the spread of COVID-19 and the closure of tenant areas at Ario. However, operating profit was ¥7,781 million, or 119.3% of the level in the previous fiscal year, due in part to improved profitability at stores undergoing structural reforms.」

「However, operating profit increased by ¥2,792 million to ¥1,895 million, due in part to improved profitability at stores undergoing structural reforms.」

「Operating profit was ¥2,979 million, or 588.4% of the level in the same period of the previous year, due in part to improved profitability at stores undergoing structural reforms.」

「Ito-Yokado, a general merchandise supermarket operator, continues to advance business and store structural reforms. During the first quarter, food sales grew in response to stay-at-home demand, but same-store sales including tenants fell below the previous year due to shortened operating hours aimed at containing the spread of COVID-19 and the closure of tenant areas at Ario. Operating profit was ¥1,158 million, or 304.9% of the level in the same period of the previous year, partly because costs related to measures against COVID-19 were reclassified as extraordinary losses.」

「We will focus on improving profitability by reducing the area of self-operated sales floors, attracting appealing tenants to increase customer traffic, strengthening food operations and implementing other store structural reforms; pursuing cooperation with group and external companies for unprofitable stores, including closures; spinning off food halls and other operations; and reducing expenses through personnel optimization and other related measures.」

「The company has been implementing store structural reforms, including closures and renovations, based on the 100-Day Plan announced in October 2016. To further promote selection and concentration and enhance its value as a commercial facility, it announced business structural reforms in October 2019 covering store policy, merchandising policy, organizational restructuring and personnel policy.」

「We continued to focus on optimizing the area of self-operated apparel and household-goods sales floors and strengthening food operations as part of our business structural reforms. However, same-store sales during the six-month period ended August 2019 fell below the previous year, and operating profit was ¥506 million, or 27.3% of the level in the same period of the previous year.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, focused on optimizing the area of self-operated apparel and household-goods sales floors and strengthening food operations as part of its business structural reforms. In addition, by redeveloping real estate and capitalizing on the advantageous locations of its stores, it reopened the Senju, Atsugi and Kamiooka stores as Ito-Yokado Food Halls.」

「In addition, the company plans to close 6 unprofitable stores in the fiscal year ending February 2020 and will continue working to improve profitability.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, focused on reducing self-operated apparel and household-goods sales floors and strengthening food operations as part of its business structural reforms. However, same-store sales during the nine-month period ended November 2019 fell below the previous year. Operating results improved by ¥2,265 million from the nine-month period ended November 2018 through an improved gross margin and optimization of selling, general and administrative expenses, resulting in an operating loss of ¥200 million.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, focused on reducing self-operated apparel and household-goods sales floors and strengthening food operations as part of its business structural reforms. As a result, although same-store sales fell below the previous year, operating profit was ¥1,851 million, up ¥3,778 million year on year, improving profitability.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator, focused on reducing self-operated apparel and household-goods sales floors and strengthening food operations as part of its business structural reforms.」

「As part of its business structural reforms, the company reviewed the sales-floor composition through its tenant mix and renovated the large shopping center Ario, in addition to closing 9 stores during the fiscal year.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator in Japan, operated 166 stores as of the end of November 2017, down 5 from the end of the previous fiscal year. As part of its business structural reforms, it reviewed the sales-floor composition through its tenant mix and renovated the large shopping center Ario, in addition to closing 7 stores during the nine-month period ended November 2017.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator in Japan, operated 167 stores as of the end of August 2017, down 4 from the end of the previous fiscal year. As part of its business structural reforms, it reviewed the sales-floor composition through its tenant mix and renovated the large shopping center Ario, in addition to closing 5 stores.」

「Ito-Yokado Co., Ltd., a general merchandise supermarket operator in Japan, operated 166 stores as of the end of the first quarter, down 5 from the end of the previous fiscal year. As part of its business structural reforms, it reviewed the sales-floor composition through its tenant mix and renovated the large shopping center Ario, in addition to closing 5 stores.」

「In accordance with the medium-term management plan announced in October 2016, we will steadily implement structural reforms, including closing 8 stores, reducing the area of self-operated sales floors and strengthening food operations.」

「We pursued structural reforms by reviewing the sales-floor format through tenant mix and closing 8 stores by the end of November of the same year.」

「We pursued structural reforms by reviewing the sales-floor format through tenant mix and closing 4 stores by the end of August of the same year.」

「We pursued structural reforms at existing stores by reviewing the sales-floor format through tenant mix and, on 10 April of the same year, closing the Price Senju store.」