Impact of COVID-19 on the Store and Catering Businesses
First written in FY2021-Q1. 8 of 15 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2024-Q3.
Hurxley Holdings 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 2024: 2 of 7 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「In the catering business, revenue from the catering division increased substantially and has recovered to a level equivalent to that before the COVID-19 pandemic.」
In the catering business, catering revenue recovered to a level equivalent to that before the COVID-19 pandemic, further easing the impact of the infectious disease on demand. - FY2024-Q2MitigatedAnnual report
「In the catering business, revenue from the catering operation increased substantially and is expected to continue performing well. The catering operation has recovered to almost pre-COVID levels. Although the ceremony operation has not recovered to the same extent as catering, the number of orders and average prices per order for wakes, funerals and memorial services have been trending upward, and the business has been steadily recovering, albeit gradually.」
The company stated that catering demand had recovered to almost pre-COVID levels, while the number of orders and prices per order in the ceremony business were trending upward. The impact of the infectious disease was described as easing. - FY2024-Q1MitigatedAnnual report
「During the cumulative consolidated period of the first quarter, the Japanese economy continued to show a gradual recovery, as social and economic activity gradually moved toward normalization, particularly in personal consumption, partly because COVID-19 was reclassified to Category 5.」
The company stated that social and economic activity was moving toward normalization following the reclassification of COVID-19 to Category 5, and that its previous impact on demand at stores and events was easing. - FY2023MitigatedAnnual report
「We assume that the impact of COVID-19 is gradually subsiding and that economic activity will continue to normalize going forward.」
The company made accounting estimates regarding the impact of the infectious disease based on its previous impact on results, while assuming that the impact would subside and economic activity would normalize. - FY2023-Q3MaterialisedAnnual report
「In the takeaway bento business, the environment remains challenging. In addition to yen depreciation caused by instability in the global situation and further increases in raw material prices due to inflation, the tendency to refrain from general events such as year-end parties because of the COVID-19 pandemic remains pronounced.」
Rising raw material prices due to yen depreciation and inflation, as well as continued restraint on general events because of the COVID-19 pandemic, continue to affect the takeaway bento business in actual terms. - FY2023-Q2MaterialisedAnnual report
「In the prepared-meals business, prolonged effects of the COVID-19 pandemic were compounded by inflation caused by global conditions and the weaker yen. Demand for ceremony and catering services declined, while higher raw-material prices increased costs.」
The decline in demand for catering and food service due to COVID-19 continued, while higher costs resulting from inflation, yen depreciation and surging raw material prices also affected actual results. - FY2023-Q1WorsenedAnnual report
「In the catering business, demand for the ceremony and catering services has been taking longer than expected to recover due to the impact of COVID-19.」
The impact of the infectious disease on demand for catering and food service continued, and the company stated that demand recovery was taking longer than expected. - FY2022MaterialisedAnnual report
「However, although demand for large orders for sporting events and other occasions is gradually returning, the environment surrounding the takeaway bento business is becoming increasingly challenging. Supermarkets are strengthening their prepared-food offerings, restaurants are expanding into takeout, and demand for home cooking is rising as prolonged working from home continues amid the spread of COVID-19. As a result, revenue from the takeaway bento business was ¥15,888 million, down 2.7% year on year, and operating profit was ¥802 million, down 34.7%.」
The infectious disease, demand for home cooking due to working from home, and competitors' stronger prepared-food and takeout offerings affected actual results, resulting in lower revenue and profit in the takeaway bento business. - FY2022-Q3WorsenedAnnual report
「However, sales and operating profit both fell below the results for the same quarter of the previous year, as spending shifted to dining out following the lifting of the state of emergency and the recovery of the event market, an area of strength for the Company, was delayed by the renewed spread of COVID-19 variants.」
The shift in spending to dining out after the state of emergency was lifted and the delayed recovery of the event market due to the renewed spread of variants affected actual results. Sales in the takeout boxed-meal business decreased 4.3%, and operating profit decreased 27.4%. - FY2022-Q2MaterialisedAnnual report
「In the contracted-store business, sales at contracted stores, particularly restaurants, were affected by repeated declarations of a state of emergency and other measures and had not recovered to pre-COVID-19 levels.」
The decline in sales at contracted stores due to declarations of a state of emergency and other measures continued, and the fact that sales had not recovered to pre-COVID-19 levels was disclosed as an actual impact in the second quarter as well. - FY2022-Q1MaterialisedAnnual report
「In the contracted-store business, sales at contracted stores, particularly restaurants, were affected by the impact of COVID-19 and repeated declarations of a state of emergency, and had not recovered to pre-COVID-19 levels.」
The decline in sales at contracted stores due to declarations of a state of emergency and other measures continued into the first quarter, and the fact that sales had not recovered to pre-COVID-19 levels was disclosed as an actual impact. - FY2021MaterialisedAnnual report
「For the consolidated fiscal year, net sales were ¥3,512.6 million (down 25.9% year on year), operating income was ¥400 million (down 57.7%), ordinary income was ¥912 million (down 26.7%), and net income attributable to owners of the parent was ¥70 million (down 94.4%).」
The impact of COVID-19 on in-store sales, event sales to external customers, contracted stores, store management, prepared-meal catering, bakeries and other operations materialized throughout the fiscal year and was reflected in deteriorating results, including a 25.9% decline in Group-wide sales. - FY2021-Q3WorsenedAnnual report
「We assume that the spread of COVID-19 and uncertainty over when it will subside will continue to affect the business through the fiscal year ending March 2022.」
The Company explicitly stated the accounting assumption that the impact of COVID-19 would continue through the fiscal year ending March 2022, specifying the expected duration of the impact. - FY2021-Q2MaterialisedAnnual report
「In the contracted-store business, sales at contracted stores, particularly restaurants, declined due to the continued impact of COVID-19 from the first quarter.」
The decline in sales at contracted stores due to COVID-19 continued into the second quarter. Group-wide sales decreased 28.1% year on year, sales in the contracted-store business decreased 44.3%, and the prepared-meal catering business remained sluggish. - FY2021-Q1MaterialisedAnnual report
「Sales at contracted stores, particularly restaurants, were significantly affected by restrictions on business operations resulting from the impact of COVID-19.」
Specific impacts unlike conventional general business-environment risks actually occurred, including restrictions on business operations, suspension of operations, rent reductions, termination of lease agreements and difficult operating conditions in the prepared-meal catering business due to COVID-19. Group-wide sales decreased 32.6% year on year.