Risk of department store closures, floor-space reductions and relocations, and changes in transaction formats
First written in FY2020-Q2. 7 of 18 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2027-H1.
T.Kawabe & moved to the "Worse" side of this theme in 2020, 1 year after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 7 of 8 companies on the "Worse" side.
3 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「However, sales did not fully offset the decline in sales of certain licensed brands whose contracts expired during the previous consolidated fiscal year. The company was also affected by the sluggish mass-market retail sector and the contraction of some existing sales channels, resulting in performance below the same period of the prior year.」
The sluggish mass-retail market and contraction of some existing sales channels, together with the decline in sales following the expiration of licensed-brand contracts, worsened the sales environment for the personal goods business. - FY2026WorsenedAnnual report
「Although affected by the closure of large GMS stores and the reduction of selling space, sales of character IP products and Expo-related products remained solid, along with the capture of inbound tourism demand.」
Closures and floor-space reductions at large general merchandise stores continued to be identified as changes in the environment surrounding our main sales channels. At the same time, efforts were made to secure sales through new products and inbound demand. - FY2026-H1WorsenedAnnual report
「In contrast, domestic demand remained affected by continued reluctance to purchase mid- and high-priced products, making the polarization between stores even more pronounced. Some stores in certain regions underperformed the previous year, and the pace of recovery across the sector as a whole remained slow.」
While urban areas recovered on inbound demand, domestic consumers remained cautious about spending and disparities between stores and regions became more pronounced, with the department store sector as a whole showing a slow recovery. - FY2024MitigatedAnnual report
「At department stores, mass retailers and directly operated stores, the Group's primary sales channels, customer traffic increased as people became more willing to go out and spend. Demand also gained momentum as various events resumed and robust inbound demand returned, with sales at some stores approaching pre-pandemic levels as market conditions gradually shifted toward recovery.」
Demand strengthened in our main sales channels on increased customer traffic, the resumption of events and inbound demand, and the retail environment at department stores and other outlets continued to recover. - FY2024-Q3RestatedAnnual report
「At department stores, mass retailers and directly operated stores, the Group's primary sales channels, customer traffic increased as people became more willing to go out and spend. Demand also gained momentum as various events resumed and inbound demand returned, with sales at some stores approaching pre-pandemic levels as market conditions gradually shifted toward recovery.」
Department stores, mass retailers and directly operated stores continued to recover, driven by increased customer traffic, the resumption of events and inbound demand. - FY2024-Q1MitigatedAnnual report
「At department stores and directly operated stores, the Group's primary sales channels, customer traffic increased as people became more willing to go out and spend, and market conditions gradually shifted toward recovery, with sales at some stores approaching pre-pandemic levels.」
Customer traffic increased at department stores and directly operated stores, with sales at some stores approaching pre-pandemic levels, and the underperformance of our main sales channels is improving. - FY2023MitigatedAnnual report
「At department stores and directly operated stores, the Group's primary sales channels, customer traffic increased as people became more willing to go out and spend, and market conditions gradually shifted toward recovery, with sales at some stores approaching pre-pandemic levels.」
Customer traffic increased at department stores and directly operated stores, with sales at some stores approaching pre-pandemic levels, indicating an improving trend in the underperformance of our main sales channels. - FY2023-Q3MitigatedAnnual report
「At department stores and directly operated stores, customer traffic increased as people became more willing to go out and spend, and market conditions gradually shifted toward recovery, with sales at some stores approaching pre-pandemic levels.」
Customer traffic at department stores and directly operated stores increased as people became more willing to go out and consumer sentiment strengthened, with sales at some stores approaching pre-pandemic levels. - FY2023-Q2MitigatedAnnual report
「At department stores and directly operated stores, customer traffic increased as people became more willing to go out and spend, and market conditions gradually shifted toward recovery, with sales at some stores approaching pre-pandemic levels.」
Customer traffic increased at department stores and directly operated stores, with sales at some stores approaching pre-pandemic levels, indicating an improving trend in the underperformance of our main sales channels. - FY2023-Q1MitigatedAnnual report
「At department stores and directly operated stores, the Group's primary sales channels, the lifting of restrictions on activities increased people's willingness to go out and spend, and customer traffic also rose. Market conditions gradually shifted toward recovery, with sales at some stores approaching pre-pandemic levels, particularly during the Golden Week sales campaign and clearance sales.」
Customer traffic increased at department stores and directly operated stores, with sales at some stores approaching pre-pandemic levels, indicating an improving trend in the underperformance of our main sales channels caused by voluntary restrictions on operations and lower customer traffic. - FY2022-Q3MitigatedAnnual report
「Department stores, the Group's primary sales channels, experienced a prolonged slump in sales due to lower customer traffic, store closures and event cancellations resulting from requests to refrain from going out. However, as COVID-19 cases declined, customer traffic and the willingness to go out and spend increased, and the year-end sales campaign gained momentum and showed signs of recovery.」
While department stores continued to suffer from lower customer traffic, store closures and event cancellations, customer traffic increased after the number of infections declined, and a recovery trend emerged in year-end sales. - FY2022-Q2RestatedAnnual report
「The Group's primary sales channels, department stores, were also affected by a decline in customer traffic, store closures and event cancellations resulting from requests to refrain from going out, and sales remained sluggish.」
The impact on our main sales channels from lower customer traffic, store closures and event cancellations at department stores continues. - FY2022-Q1MaterialisedAnnual report
「The Group's primary sales channels, department stores, were also affected by a decline in customer traffic, store closures and event cancellations resulting from requests to refrain from going out.」
At department stores, lower customer traffic due to voluntary restrictions on going out, store closures and event cancellations actually occurred, affecting the sales environment in our main channels. - FY2021MaterialisedAnnual report
「Sales at physical stores slowed again from early autumn through year-end due to the renewed spread of COVID-19」
The renewed slowdown in sales at physical stores associated with the spread of infections was reflected in full-year results. - FY2021-Q3MaterialisedAnnual report
「Sales at physical stores slowed again toward year-end due to the impact of a renewed increase in infections」
Sales at physical stores slowed again due to the renewed spread of COVID-19 infections. - FY2021-Q2MaterialisedAnnual report
「Cancellation and downsizing of events at department stores, our main sales channels」
Events at department stores were actually cancelled or scaled back, affecting sales in the personal goods business along with voluntary restrictions on going out and the disappearance of inbound demand. - FY2021-Q1MaterialisedAnnual report
「Because department stores, our main sales channels, voluntarily suspended operations as a measure to prevent the spread of infection, seasonal midsummer merchandise and Mother's Day promotions generated no sales at all」
Department stores actually suspended operations as a measure to prevent the spread of infection, affecting sales of midsummer merchandise and Mother's Day promotions. - FY2020-Q2First statedAnnual report
「The market for the personal goods business was in a challenging environment, amid changes in the retail environment, including reductions and relocations of small-item and miscellaneous goods departments and changes in transaction formats.」
In addition to department store closures in regional and suburban areas, reductions and relocations of small-item and miscellaneous goods departments and changes in transaction formats were identified for the first time as factors making the market environment for the personal goods business more challenging.