Weakness in Core Apparel
First written in FY2017-Q1. 6 of 20 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2023-Q1.
Saikaya Department Store moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2020: 8 of 13 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2023-Q1MitigatedAnnual report
「In terms of our operations, following the lifting on 21 March 2022 of the priority preventive measures to prevent the spread of COVID-19, increased opportunities to go out, including Golden Week without the special restrictions seen for the first time in 3 years, contributed to a recovery in demand for spring and summer apparel and fashion accessories. Sales revenue from March through May 2022 exceeded the previous year's sales revenue for 3 consecutive months.」
Demand for spring and summer merchandise in core fashion accessories and apparel recovered as opportunities to go out increased, and sales revenue exceeded the previous year's level for 3 consecutive months. - FY2022-Q3SoftenedAnnual report
「In the department store industry, overall conditions were on a recovery trend, supported by strong sales of high-priced merchandise, the lifting on 30 September 2021 of the state of emergency declared in response to COVID-19, the success of initiatives targeting major customer groups, and strong movement in autumn and winter merchandise due to falling temperatures. However, customer traffic had not yet returned to pre-pandemic levels.」
While the industry was described as being on a recovery trend, with high-priced and autumn and winter merchandise performing well, customer traffic had not returned to pre-pandemic levels. - FY2021MaterialisedAnnual report
「Meanwhile, demand for out-of-home consumption, including travel and leisure, dining out and fashion, declined substantially.」
It is stated that the impact of COVID-19 caused demand for out-of-home consumption, including fashion, to decline substantially. - FY2021-Q2MaterialisedAnnual report
「In addition to the renewed increase in COVID-19 cases from July and the resulting mood of refraining from going out, the later-than-usual end of the rainy season also had an impact. As midsummer merchandise in the core apparel business struggled, cumulative sales revenue for the second quarter fell below the forecast for all stores.」
The renewed increase in COVID-19 cases, the mood of refraining from going out and the delayed end of the rainy season caused midsummer merchandise in core apparel to struggle, resulting in sales revenue below forecast at all stores. - FY2021-Q1MaterialisedAnnual report
「The cancellation of ceremonies such as graduation and entrance ceremonies caused occasion merchandise, including apparel and personal items, to perform poorly, resulting in a difficult outcome.」
The cancellation of ceremonies due to COVID-19 materialized in the actual operating environment as weak demand for apparel and other products. - FY2020MaterialisedAnnual report
「Due to weather-related factors, including weak apparel sales caused by low temperatures, heavy rain, a prolonged rainy season and an unusually warm winter, temporary closures caused by Typhoon No. 19, and the impact of the October consumption tax increase, sales revenue across the company fell below the forecast for all stores.」
It is stated that weather-related factors caused apparel sales to weaken and affected performance by resulting in sales revenue below forecast at all stores. - FY2020-Q3MaterialisedAnnual report
「In the department store industry, although panic buying intensified before the consumption tax rate increase, sales revenue continued to decline after the October increase due to the backlash, while temporary closures caused by Typhoon No. 19 in October and weak apparel sales due to unsettled weather also contributed to the continued difficult conditions.」
It is stated that the backlash after the tax increase, Typhoon No. 19 and unsettled weather resulted in difficult conditions in the department store industry, including weakness in core apparel. - FY2020-Q2MaterialisedAnnual report
「In the department store industry, conditions remained difficult, particularly in regional areas, as summer merchandise, led by core apparel, struggled due to low temperatures, heavy rain and a prolonged rainy season in June and July.」
The impact of low temperatures, heavy rain and a prolonged rainy season is described as an actual industry condition in which summer merchandise, particularly core apparel, struggled. - FY2019DroppedAnnual reportThis filing does not directly identify weakness in core apparel as a performance factor.
- FY2019-Q3Slowing autumn and winter apparel and the impact of natural disasters reported togetherAnnual report
「In the department store industry, autumn and winter merchandise such as coats initially got off to a solid start as temperatures fell, but momentum subsequently slowed as temperatures remained relatively high. Sales revenue declined in September, partly due to the impact of repeated natural disasters, including the landfall of 2 typhoons and the Hokkaido Eastern Iburi Earthquake,」
Autumn and winter apparel initially got off to a solid start, but momentum slowed as temperatures rose, and the impact of natural disasters on September sales revenue is also described. - FY2019-Q2Declining demand for apparel and other products due to abnormal weatherAnnual report
「In the department store industry, performance was strong due to the benefits of earlier clearance sales for core apparel and stronger seasonal demand resulting from rising temperatures, but demand declined in July amid abnormal weather, including torrential rain in western Japan, successive days of extreme heat and the landfall of Typhoon No. 12,」
Although apparel temporarily performed well due to earlier clearance sales and seasonal demand, demand declined because of abnormal weather, including torrential rain in western Japan, extreme heat and Typhoon No. 12. - FY2019-Q1Recovery signs and weakening demand reported togetherAnnual report
「In the department store industry, core apparel showed signs of recovery in seasonal spring merchandise, but demand for summer merchandise declined due to low temperatures, while metropolitan areas, where high-priced consumption and inbound demand continued to perform well, remained on a recovery trend.」
It is stated that spring apparel showed signs of recovery, while demand for summer merchandise declined due to low temperatures. - FY2018WorsenedAnnual report
「Due to intensifying sales competition across industries and business formats in the surrounding trade area, sales revenue for core merchandise, including men's and women's apparel, failed to recover,」
Although recovery in autumn and winter apparel had been reported through the previous quarter, the company explains that for the full year, sales revenue for merchandise including core apparel failed to recover. - FY2018-Q3SoftenedAnnual report
「In the department store industry, autumn and winter apparel showed signs of recovery, supported by stronger demand for cold-weather clothing as temperatures fell, among other factors,」
In contrast to the previously reported weakness in core apparel, autumn and winter apparel is described as having shown signs of recovery. - FY2018-Q2RestatedAnnual report
「In the department store industry, although core apparel remained sluggish, high-priced merchandise such as art, jewelry and precious metals was brisk on strong demand from affluent consumers, while inbound demand, particularly in urban areas and led by cosmetics, also remained strong.」
While continued weakness in core apparel is noted, strong performance is also reported for high-priced merchandise and inbound demand, including cosmetics. - FY2018-Q1SoftenedAnnual report
「In the department store industry, core apparel remained sluggish, but the decline showed signs of improvement as it gradually recovered.」
Although weakness in core apparel continued, it is stated that the category gradually recovered and the decline showed signs of improvement. - FY2017SoftenedAnnual report
「Although apparel sales showed signs of recovery in July and November, overall sales revenue, including core food products, remained in a difficult situation.」
Apparel was said to have shown signs of recovery in July and November, indicating some improvement from its previous weakness, while overall sales revenue remained in a difficult situation. - FY2017-Q3SoftenedAnnual report
「In the department store industry, sales revenue was negative for 9 consecutive months, but the decline showed signs of improvement as high-share apparel gradually recovered.」
Apparel in the department store industry showed signs of recovery and an improvement in the rate of decline. At the company, however, weakness in spring and autumn apparel continued, and apparel sales remained sluggish. - FY2017-Q2WorsenedAnnual report
「Due to unsettled weather from mid-July through August, apparel sales in particular struggled to grow, and sales revenue continued to remain below the previous year.」
The continued weakness in apparel, compounded by unsettled weather, is described as a factor causing sales revenue to remain below the previous year. - FY2017-Q1First statedAnnual report
「In the department store industry, while core apparel remained sluggish, some products performed well, including sundries, whose sales remained above the prior-year level for 14 consecutive months from April 2015,」
The weakness in apparel is described as an industry-environment factor and an operating headwind during the quarter under review.