Risk to overseas store sales from anti-government demonstrations in Hong Kong
First written in FY2020-Q3. 2 of 3 entries say "Mitigated", first in FY2021. Latest entry: FY2027-H1.
The whole theme swung hardest in 2020: 5 of 6 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2027-H1MitigatedAnnual report
「The company opened 4 stores, namely UNITED TOKYO Hong Kong Causeway Bay, PUBLIC TOKYO Hong Kong Causeway Bay, CONZ Hong Kong HERITAGE, and KEY TIMEZ Hong Kong HERITAGE, while closing STUDIOUS Hong Kong Fashion Walk. …The Hong Kong business is growing faster than planned.」
The company opened 4 stores and closed 1 store in Hong Kong. The company stated that the Hong Kong business was growing faster than planned, indicating progress in addressing the sales risks arising from past political instability. - FY2021MitigatedAnnual report
「In the current fiscal year, sales remained weak due to political instability in Hong Kong. Measures included closing 2 unprofitable stores and working to reduce the size of the loss.」
As sales remained weak amid continuing political instability in Hong Kong, the company closed 2 unprofitable stores. - FY2020-Q3MaterialisedAnnual report
「In the third quarter of the current fiscal year (1 September 2019 to 30 November 2019), same-store sales were 91.0% of the level in the same period of the previous year. By business format, sales were 88.9% for STUDIOUS and 89.9% for UNITED TOKYO. The main factors were adverse weather, the consumption tax increase from October, and the prolonged large-scale anti-government demonstrations in Hong Kong, which made conditions difficult.」
The prolonged large-scale anti-government demonstrations in Hong Kong were explicitly identified as one factor behind weak same-store sales.