Unstable Demand Environment Driven by Consumers' Low-Price Orientation and Adverse Weather

「Meanwhile, the outlook for the economy remains uncertain, as production activity has been constrained by factors including surging crude oil prices due to turmoil in the Middle East and shortages of crude oil-derived raw materials. The apparel industry faced an extremely difficult environment, in contrast to the overall recovery trend, as demand lost momentum toward the summer season amid unstable weather and more defensive household spending and selective consumption driven by higher prices.」

「In the apparel industry, a difficult operating environment has continued, including the increasing polarization of personal consumption and preference for inexpensive practical goods driven by concerns about protecting household finances.」

「The Japanese economy during the consolidated fiscal year remained on a gradual recovery trend, supported by a recovery in personal consumption resulting from improving employment and income conditions and continued inbound demand. However, the outlook remained uncertain because of prolonged geopolitical risks, continued price increases caused by higher energy costs and the impact of U.S. trade policy.」

「As the polarization of personal consumption and preference for inexpensive practical goods driven by concerns about protecting household finances intensified against a backdrop of falling real wages caused by higher prices, the difficult operating environment continued, including the need to revise product assortments and launch timing in response to climate-change impacts.」

「At the same time, the operating environment remained uncertain. In addition to the impact of U.S. trade policy and volatility in financial and capital markets, concerns grew that the global economy could slow because geopolitical risks in the Middle East and Ukraine were prolonged, while the risk of weaker consumer sentiment increased as real-wage growth stagnated amid rising prices.」

「Although personal consumption was sluggish because of rising prices, employment and income conditions improved, partly because of the effects of various policies, and the economy showed a gradual recovery. However, the outlook remained uncertain because of soaring raw-material and energy prices, the normalization of yen depreciation associated with global monetary tightening and prolonged instability overseas. In China, the difficult operating environment continued as domestic demand remained weak because of the property downturn and sluggish personal consumption.」

「The Japanese economy during the current interim consolidated accounting period showed a gradual recovery, supported by an improving income environment resulting from higher wages and increased inbound consumption. However, raw-material and energy prices remained high, and consumer sentiment showed signs of stagnation, leaving the operating environment uncertain.」

「At the same time, downside risks to personal consumption remained, including continued yen depreciation and rising prices resulting from higher resource and energy prices, and the operating environment remained uncertain.」

「The Japanese economy during the consolidated fiscal year showed signs of recovery as economic activity normalized following COVID-19’s reclassification to Category 5 and inbound demand increased. However, the operating environment remained uncertain amid concerns that soaring raw-material and energy prices could slow consumption. In China, personal consumption remained weak because of the deepening property downturn and increasingly difficult employment conditions.」

「Although demand for winter merchandise was sluggish because of the warm winter, store sales increased to 104.5% of the prior-year period and EC sales increased to 101.7%.」

「The Japanese economy during the first six months of the current consolidated fiscal year gradually recovered as economic activity normalized following COVID-19’s reclassification to Category 5 and inbound demand increased. Despite the impact of higher raw-material prices and yen depreciation, personal consumption showed signs of recovery.」

「The Japanese economy during the first quarter of the current consolidated fiscal year showed signs of more active economic activity as restrictions on economic and social activity related to the COVID-19 pandemic were eased. At the same time, the operating environment remained uncertain because of soaring raw-material prices and transportation costs and foreign-exchange fluctuations.」

「However, the business environment remained uncertain as soaring raw-material and energy prices and the rapid depreciation of the yen weighed on conditions. In China, the Shanghai lockdown affected not only personal consumption within China but also supply chains serving Japan. In addition, explosive growth in infections followed the rapid easing of the zero-COVID policy, causing personal consumption to stagnate.」

「The Japanese economy during the first nine months of the current consolidated fiscal year showed signs of recovery as the easing of various activity restrictions led to increased movement of people, despite the continued impact of COVID-19. However, as prices continued to rise because of soaring raw-material and energy prices and the yen’s depreciation, personal consumption was unlikely to improve and the operating environment remained uncertain. In China as well, COVID-19 continued to have a significant impact on economic activity, and personal consumption remained difficult.」

「The Japanese economy during the first six months of the current consolidated fiscal year remained in an uncertain operating environment because of the spread of the seventh wave of COVID-19, soaring raw-material and energy prices, and concerns about foreign-exchange trends associated with the rapid depreciation of the yen.」

「At the same time, the impact of soaring raw-material prices and transportation costs, the rapid depreciation of the yen and restrictions on activity associated with China’s zero-COVID policy was significant, and the business environment remained uncertain.」

「The Japanese economy during the consolidated fiscal year repeatedly alternated between downturns and recoveries as states of emergency and priority preventive measures were issued across the country in response to the spread of COVID-19. In addition, the business environment remained difficult, with concerns including higher crude-oil prices and transportation costs, mainly because of soaring raw-material prices and heightened geopolitical risks.」

「The Japanese economy during the first nine months of the current consolidated fiscal year remained difficult, as economic activity was restricted by the repeated issuance of states of emergency and other measures associated with the spread of COVID-19, while personal consumption also remained difficult. With new variants spreading in countries around the world, the economic outlook remains uncertain.」

「Store sales slowed in the second quarter because, in addition to the expansion of areas subject to the state of emergency declaration and the extension of its period amid the spread of the fifth wave of COVID-19, torrential rain and other adverse weather also had an impact, although」

「The Japanese economy during the first quarter of the current consolidated cumulative period remained in an uncertain outlook, as economic activity was restricted and personal consumption remained sluggish following the issuance of the third state of emergency declaration associated with the spread of COVID-19.」

「The Japanese economy during the consolidated fiscal year remained in a difficult condition, as the global spread of COVID-19 led to prolonged stagnation in economic activity and sluggish personal consumption.」

「The number of COVID-19 cases began rising again, and uncertainty about the outlook continues.」

「Although there was a temporary recovery after the state of emergency was lifted, the industry remained in a difficult consumption environment because of the impact of the renewed spread of COVID-19 from July onward, as well as adverse weather including typhoons and a prolonged rainy season.」

「The industry remained in a difficult environment. In addition to the effects of the aforementioned consumption-tax increase and natural disasters, the trend toward warmer winters from early autumn onward caused changes in customer demand for fall and winter apparel.」

「Although purchasing became more active during the extended Golden Week holiday in May and the extreme heat in August, the industry remained in a difficult environment from early autumn onward, as persistently high temperatures, natural disasters and the consumption-tax increase affected consumer sentiment.」

「Although consumption became more active during the extended Golden Week holiday in May and demand for sale merchandise increased in August, the industry remained in a difficult consumption environment. Factors included the effect of record-low temperatures in July and consumers’ preference for saving amid concerns over stagnant real-income growth, including the impact of the consumption-tax increase.」

「In the casual-wear specialty-store industry to which we belong, signs of recovery centered on spring apparel emerged from the rise in average temperatures after March, and personal consumption also became more active during the extended Golden Week holiday in May. Overall, however, the industry remained in a difficult consumption environment, with consumers continuing to favor saving and selective purchasing amid concerns over stagnant real-income growth.」

「The casual-wear specialty-store industry to which we belong remained in a difficult consumption environment. In addition to the effects of the aforementioned torrential rain, typhoons and earthquakes, persistently high temperatures affected the start of sales of fall and winter apparel.」

「The casual-wear specialty-store industry to which we belong remained in a difficult consumption environment, partly because of adverse weather, including torrential rain in June and July.」

「The casual-wear specialty-store industry to which we belong is expected to remain in a difficult operating environment because of increasingly diverse consumer purchasing behavior and a stronger preference for saving.」

「The business environment surrounding our group is expected to remain challenging in terms of sales, as competition intensifies amid population decline and the progression of an aging society in Japan, as well as increasingly diverse consumer needs and a preference for lower prices.」

「Existing-store sales continued to fall short of the previous year, partly because typhoons affected October, when sales had been on a recovery trend.」

「Personal consumption remains uncertain because real wages are growing only slowly.」

「In the casual-wear specialty-store industry to which our group belongs, consumers’ preference for lower prices continued. Combined with external factors such as adverse weather, conditions remained unstable.」

「In the casual-wear specialty-store industry to which our group belongs, the trend toward stronger consumer preference for lower prices continued. Combined with external factors such as adverse weather, conditions remained unstable.」

「The trend toward stronger consumer preference for lower prices continued, and, together with external factors such as adverse weather, conditions remained unstable.」