Sales decline due to department store closures
First written in FY2018. 5 of 14 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2025.
This thread is not in a theme yet. When the same subject shows up in other companies' filings, you can compare them here.
- FY2025RestatedAnnual report
「For many years, department stores accounted for approximately 80% of our Group's total sales destinations, although they accounted for approximately 50% in the current consolidated fiscal year. Our Group maintains the industry's leading share of in-store sales for the products it handles at department stores.」
Although the proportion of sales to department stores has declined to approximately 50%, the recognition that expansion beyond existing channels is urgent in light of department store closures and reductions in selling space continues. - FY2022Department store sales mix declined to approximately 50%Annual report
「For many years, department stores accounted for approximately 80% of our Group's total sales destinations, although they accounted for approximately 50% in the current consolidated fiscal year. Our Group maintains the industry's leading share of in-store sales for the products it handles at department stores.」
Although dependence on department store sales continues, the proportion of sales destinations accounted for by department stores declined from approximately 60% in the previous fiscal year to approximately 50% in the current fiscal year. The risks of department store closures, reductions in selling space, and format changes continue to be expressly identified. - FY2022-Q3RestatedAnnual report
「The Group implemented measures against COVID-19 and gradually resumed sales activities at events and other venues, but sales opportunities remained scarce because sales floors were reduced and launch schedules were postponed, causing revenue to fall substantially below the same quarter of the previous year.」
Even after sales activities resume, sales opportunities remain scarce because selling space itself has contracted, and the impact of the shrinking main sales channel continues. - FY2022-Q2RestatedAnnual report
「In the clothing accessories segment, including fur and jewelry, we expanded the range of products handled from the previous fiscal year and developed sustainable proposals such as fur remodeling and remaking, focusing on identifying new consumer needs. Although we gradually resumed sales activities such as events after implementing measures against COVID-19, sales opportunities became scarce because of continued reductions in selling space and delays in the timing of product presentations. Consequently, sales were substantially below the same quarter of the previous year.」
Selling space itself continues to shrink, and sales opportunities for clothing accessories remain scarce even after sales activities resume. - FY2021Department store sales mix declined from approximately 80% to approximately 60%Annual report
「For a long time, department stores accounted for approximately 80% of the Group's sales destinations overall, although the proportion was approximately 60% in the current consolidated fiscal year. The Group has maintained the industry's leading share of over-the-counter sales of its products at department stores.」
Although dependence on the existing department store channel continues, the proportion of sales destinations accounted for by department stores declined from approximately 80% over the long term to approximately 60% in the current fiscal year. Department store closures, reductions in selling space, and format changes continue to be identified as performance risks. - FY2021-Q3WorsenedAnnual report
「For apparel accessories, comprising the fur and jewelry segment, the Group expanded its product lineup and developed sustainable proposals such as fur remodeling and remaking, focusing on identifying new consumer needs. However, the impact of the COVID-19 pandemic continued, and department-store operations, its main sales channel, remained weak, while private sales events and other events decreased or were canceled due to requests to refrain from nonessential outings. As a result, revenue in the fur and jewelry segment fell below the same quarter of the previous year.」
In addition to weak performance at department stores, our main customers, events for external sales and other activities declined or were cancelled, and the impact of contracting sales channels continues. - FY2021-Q1WorsenedAnnual report
「Overall sales were substantially below the same quarter of the previous year because commercial facilities and directly operated stores were temporarily closed or operated for shorter hours, while personal consumption declined sharply following calls to refrain from going out.」
Temporary closures and shortened operating hours at major commercial facilities, including department stores, occurred, and overall sales were substantially below the same quarter of the previous year amid weaker personal consumption. - FY2020WorsenedAnnual report
「Against a backdrop of Japan's declining population, the aging of customers who had visited department stores, and changes in consumer behavior, department stores are seeing an acceleration in closures, reductions in selling space, and format changes.」
The disclosure states that department store closures, reductions in selling space, and format changes are accelerating, further clarifying the risk of contraction in the main sales channel. - FY2020-Q3WorsenedAnnual report
「In addition, against a backdrop of changes in consumer spending driven by increasingly diverse consumer needs, department store closures, reductions in selling space and changes in transaction formats among the main sales channels for the Group are accelerating.」
In addition to department store closures, reductions in selling space and changes in transaction formats are accelerating, increasing the risk of contraction in existing sales channels. - FY2020-Q2WorsenedAnnual report
「In the fashion accessories industry as well, changes in consumer trends resulting from increasingly diverse consumer needs, along with further reductions in selling space due to department store closures and format changes, continued to advance.」
The disclosure states that reductions in selling space due to department store closures and format changes are progressing further, increasing the risk of contraction in the existing department store channel. - FY2020-Q1MaterialisedAnnual report
「However, partly due to department store closures and unfavorable weather, sales amounted to ¥3,811 million, down 2.0% from the same quarter of the previous year.」
Department store closures, together with unfavorable weather and other factors, appeared in results as a cause of the sales decline. - FY2019-Q3MaterialisedAnnual report
「The Group held events for customers focused mainly on products made from natural materials, but total revenue in the hat segment fell below the same quarter of the previous year, partly because of department-store closures.」
Despite implementing sales promotion initiatives, the impact of department store closures appeared in results as a factor behind the decline in hat segment sales. - FY2019-Q2MaterialisedAnnual report
「The Group held events for customers focused mainly on products made from natural materials, but total revenue in the hat segment fell below the same quarter of the previous year, partly because of department-store closures.」
The impact of department store closures again appeared in results as a factor behind the decline in hat segment sales. - FY2018MaterialisedAnnual report
「Although same-store sales at department stores exceeded the previous year's results and the Group's share of department store sales also improved, this was not enough to offset the sales decline caused by store closures.」
The disclosure states that although same-store sales and market share improved, the Group was unable to offset the sales decline caused by department store closures.