Securing same-store sales at 90% of fiscal 2019 levels and profits even amid COVID-19

「For the core Crocodile business, we continued working toward building a structure capable of generating profits even if sales remained at 90% of the level in the fiscal year ended August 2019, a normal year. In the first half, however, customer traffic to stores and other factors were affected during the period covered by the declaration of a state of emergency, the transition period following its lifting, and the period during which priority preventive measures were in effect. As a result, the prolonged impact of COVID-19 caused same-store sales to remain at approximately 80% of normal levels. In the second half, sales were also affected in March, when infections were spreading, and in August, during the seventh wave of infections. However, sales recovered from April through July as the number of infections subsided, enabling us to nearly achieve the targeted 90% level.」