Impact on business performance from store closures and requests to refrain from going out due to COVID-19
First written in FY2021-Q1. 9 of 14 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024-Q3.
H2o Retailing 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 2020: 68 of 90 companies on the "Worse" side.
33 other companies' latest entry also says "Mitigated".
- FY2024-Q3MitigatedAnnual report
「First nine months of the current consolidated fiscal year (from 1 April 2023 to 31 December 2023) There are no applicable matters.」
The disclosure stated that there were no applicable matters concerning extraordinary losses attributable to COVID-19 during the first nine months of the current fiscal year, and recognition of COVID-19-related losses ceased. - FY2024-Q1MitigatedAnnual report
「As COVID-19 was reclassified as a Category V infectious disease and the movement of people began to recover, domestic sales remained strong.」
As COVID-19 was reclassified as a Category V infectious disease and the movement of people recovered, domestic sales remained strong and the impact of COVID-19 on store operations and sales eased. - FY2023MitigatedAnnual report
「A ¥415 million loss attributable to COVID-19 was recognized as an extraordinary loss.」
The COVID-19-related loss declined from ¥4,253 million in the previous fiscal year to ¥415 million. - FY2023-Q3MitigatedAnnual report
「During the first nine months of the current consolidated fiscal year, our Group recognized ¥405 million in costs related to decontamination conducted to prevent the spread of COVID-19 as an extraordinary loss under “Loss attributable to COVID-19.”」
The COVID-19-related loss was ¥405 million, down from ¥4,040 million in the same period of the previous year. Although the impact of COVID-19 remained, the scale of the loss decreased. - FY2023-Q2MitigatedAnnual report
「During the first six months of the current consolidated fiscal year, our Group recognized ¥380 million in costs related to decontamination conducted to prevent the spread of COVID-19 as an extraordinary loss under “Loss attributable to COVID-19.”」
The impact of COVID-19 remained, and ¥380 million in decontamination costs and other expenses was recognized, although this was down from the COVID-19-related loss of ¥3,941 million in the same period of the previous year. - FY2023-Q1MitigatedAnnual report
「A ¥146 million loss attributable to COVID-19 was recognized as an extraordinary loss under “Loss attributable to COVID-19.”」
Although the impact of COVID-19 continued, the COVID-19-related loss declined from ¥3,753 million in the same period of the previous year to ¥146 million. - FY2022MitigatedAnnual report
「A ¥4,253 million loss attributable to COVID-19 was recognized in the consolidated income statement for the current consolidated fiscal year.」
The COVID-19-related loss declined from ¥5,353 million in the previous fiscal year to ¥4,253 million. Although the impact remained, the scale of the loss decreased. - FY2022-Q3MitigatedAnnual report
「After the lifting of the state of emergency, demand for fashion and gifts increased as opportunities to go out and engage in face-to-face communication increased. Sales value across all stores in the third quarter (October–December) was 111.0% of the same period a year earlier.」
Although another declaration of a state of emergency, entry restrictions and temporary closures due to cluster outbreaks occurred, demand and transaction volume recovered after the restrictions were lifted, and the COVID-19-related loss declined from ¥5,124 million in the previous year to ¥4,040 million. - FY2022-Q2WorsenedAnnual report
「From 2 August, a state of emergency was declared again as infections spread. Along with suspending operations for events and other activities and restricting entry to food sections, we temporarily closed both flagship stores following cluster outbreaks.」
While stores had been reopening and recovering from the previous quarter, the state of emergency was declared again in August, events were suspended, entry to food sections was restricted, and temporary closures occurred at both flagship stores due to cluster outbreaks. The impact of COVID-19 on store operations again became apparent. - FY2022-Q1MitigatedAnnual report
「For accounting estimates, we have revised our assumption to reflect a gradual recovery in the impact on business performance from the second half of the current fiscal year through the first half of the following fiscal year, although the impact of COVID-19 on business performance will remain for the time being.」
Although the impact of COVID-19 is expected to remain for the time being, the estimates were revised on the assumption that its impact on business performance would gradually recover from the second half of the current fiscal year through the first half of the following fiscal year. Gross sales were 110.5% of the year-earlier level on a like-for-like basis, and the operating loss narrowed. - FY2021WorsenedAnnual report
「The Group’s consolidated operating results for the period were significantly affected, particularly in the department store business, by the issuance of two states of emergency declarations in response to the spread of COVID-19 and restrictions on going out. Sales were ¥739,198 million, or 82.4% of the previous fiscal year’s level.」
The impact of COVID-19, two declarations of a state of emergency and restrictions on going out continued throughout the year, reducing consolidated net sales to 82.4% of the previous fiscal year's level. - FY2021-Q3WorsenedAnnual report
「The consolidated results of our Group for the current fiscal year were significantly affected, mainly in the department store business, by the declaration of a state of emergency accompanying the spread of COVID-19, the subsequent restrictions on going out and two further waves of infections. Net sales were ¥551,568 million, or 79.5% of the previous fiscal year's level.」
The impact of COVID-19, the declaration of a state of emergency and restrictions on going out continued, along with two further waves of infections. Consolidated net sales were 79.5% of the year-earlier level, and the operating loss was ¥1,008 million. A ¥5,124 million loss attributable to COVID-19 was also recognized as an extraordinary loss. - FY2021-Q2WorsenedAnnual report
「The consolidated results of our Group for the current fiscal year were significantly affected, mainly in the department store business, by the declaration of a state of emergency accompanying the spread of COVID-19 and the subsequent restrictions on going out. Net sales were ¥335,614 million, or 74.5% of the previous fiscal year's level. The impact of COVID-19 on our Group's businesses remains significant in the department store business, where the effect of lower sales and other factors is substantial. For accounting estimates, we have revised our assumption so that conditions will remain at approximately the same level as in the current second-quarter consolidated accounting period for about the next year, followed by a gradual recovery.」
With the impact of COVID-19 continuing, cumulative net sales were 74.5% of the year-earlier level, and the quarterly net loss attributable to owners of the parent was ¥10,102 million. For accounting estimates, the assumption was revised to reflect the impact continuing at approximately the current-quarter level for about the next year. - FY2021-Q1First statedAnnual report
「The Group’s consolidated operating results for the period were significantly affected, particularly in the department store business, by the issuance of a state of emergency declaration in response to the spread of COVID-19 and the subsequent restrictions on going out. Sales were ¥145,904 million, or 67.2% of the previous fiscal year’s level.」
The spread of COVID-19, the declaration of a state of emergency and restrictions on going out actually resulted in lower sales, operating losses and extraordinary losses, mainly in the department store business.