Store Closures and Supplier Shutdowns Caused by the COVID-19 Pandemic
First written in FY2021-Q1. 4 of 9 entries say "Worsened", first in FY2021. Latest entry: FY2023.
The whole theme swung hardest in 2020: 103 of 175 companies on the "Worse" side.
- FY2023WorsenedAnnual report
「However, higher procurement costs resulting from sharp currency fluctuations, increased marketplace fees and global supply-chain disruptions put pressure on profits.」
In addition to supply constraints during COVID-19, higher procurement costs caused by currency fluctuations, increased marketplace fees and supply-chain disruptions became factors weighing on profits. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review, the Japanese economy faced an uncertain outlook as infections from a new COVID-19 variant spread again and priority preventive measures were issued. This was compounded by soaring raw material prices and logistics costs, difficulties procuring electronic components, including semiconductor components, the impact of Russia's invasion of Ukraine, and price increases resulting from the rapid depreciation of the yen.」
On the supply side, uncertainty in the procurement environment increased as higher raw-material and logistics costs were compounded by difficulties in procuring electronic components, including semiconductor components. - FY2022Supply response through sourcing from multiple regions and expansion of private-label productsAnnual report
「Accordingly, in addition to its traditional North American sourcing route, the company developed new suppliers in multiple regions. As this was also key to future business expansion, it sought to secure products by further advancing internationalization and the use of IT, while working to improve profitability by differentiating itself from competitors through an original product lineup.」
The company outlined specific measures to address procurement delays and material shortages, including sourcing from multiple regions, advancing internationalization and the use of IT, and developing an original product lineup. - FY2022-Q3Store recovery and product mix adjustments in response to procurement delaysAnnual report
「Internet sales remained strong, partly due to the effects of the website renewal. Customer traffic at physical stores also began to recover compared with levels during the state of emergency, partly because many companies had resumed normal operations. Meanwhile, the impact of COVID-19 continued to be felt in procurement, with delivery delays persisting for products sourced through North American routes, making it important to secure products. In response, the Group expanded JeePears original private-label products and increased its handling of Japanese products beyond previous levels.」
Demand for online sales and physical stores began to recover, while delivery delays for products sourced from North America continued. The company responded by expanding its private-label products and Japanese products. - FY2022-Q2WorsenedAnnual report
「However, product costs have risen due to the global shortage of materials and the weaker yen, leaving the outlook uncertain.」
In addition to supplier shutdowns and supply constraints during COVID-19, a global shortage of materials and higher product costs caused by the weaker yen occurred. - FY2021WorsenedAnnual report
「However, the COVID-19 pandemic has caused a global shortage of components, making the stable procurement of products a challenge.」
While the impact of COVID-19 on stores and suppliers began to ease, the company identified a new supply-side challenge: securing a stable supply of products amid a global shortage of components. - FY2021-Q3MitigatedAnnual report
「Customer traffic at physical stores also gradually recovered, and the company began returning shortened operating hours to normal, indicating signs of recovery.」
Customer traffic at physical stores gradually recovered, and operating hours were returned from shortened hours to normal. - FY2021-Q2RestatedAnnual report
「In its e-commerce services business, the company was affected by the spread of COVID-19 both in Japan and overseas, including a request from the Tokyo Metropolitan Government to suspend operations at physical stores and disruptions to imports from its main U.S. suppliers. Physical stores were closed or operated on reduced hours, and the business environment was challenging as customer traffic declined.」
The Tokyo Metropolitan Government's request to suspend operations, disruptions to imports from U.S. manufacturers, closures and reduced hours at physical stores, and declining customer traffic continued. - FY2021-Q1MaterialisedAnnual report
「In the e-commerce services business, the company was affected by the spread of COVID-19 both in Japan and overseas. In addition to receiving a request from the Tokyo Metropolitan Government to suspend operations, the U.S. manufacturers that were its main suppliers suspended operations after being affected by the pandemic. Physical stores were closed or operated on reduced hours, and the business environment was particularly challenging for stores in central Tokyo, where customer traffic plunged during the state of emergency.」
Requests to suspend operations, shutdowns by U.S. suppliers, closures and reduced hours at physical stores, and a sharp decline in customer traffic at stores in central Tokyo all occurred.