Decline in Customer Traffic and Profitability at VENCE EXCHANGE
First written in FY2018-Q2. . Latest entry: FY2020.
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- FY2020Significant full-year sales decline at VEXAnnual report
「VEX 796,584 56.7」
VEX full-year sales were ¥795.84 million, or 56.7% of the previous year's level, and profitability continued to deteriorate. - FY2019-Q1Continued deterioration in VENCE profitabilityAnnual report
「At VENCE, we prioritised improving product efficiency through comprehensive merchandising reforms. However, prolonged sales weakness from the previous fiscal year and a substantial shortfall against the gross profit margin plan due to price reductions associated with inventory disposal had a significant impact on the deterioration in performance.」
Although VENCE advanced merchandising reforms, its gross profit margin fell substantially short of plan due to weak sales and price reductions associated with inventory disposal. - FY2018Full-year sales declineAnnual report
「VENCE EXCHANGE Sales Division 1,750,189 84.6」
Full-year sales at the VENCE EXCHANGE Sales Division were ¥1.75 billion, or 84.6% of the previous year's level. - FY2018-Q3Customer recoveryAnnual report
「VENCE EXCHANGE, which took time to improve from the previous year and struggled in the first half, revamped its product development structure from the second half and prioritised customer recovery and inventory clearance. As a result, customer numbers began to increase in early November, and November customer numbers recovered to 115.2% of the comparable figure for existing stores.」
VENCE EXCHANGE's customer numbers for November recovered to 115.2% of the comparable figure for existing stores, supported by the revamped product development structure and prioritisation of inventory clearance. - FY2018-Q2First statedAnnual report
「Meanwhile, VENCE EXCHANGE took time to improve from the previous year, and sales declined as customer numbers fell to 92.2% of the previous year's level. In addition, an increase in price reductions associated with inventory disposal worsened the gross profit margin, while weak sales raised the SG&A ratio. As a result, profitability deteriorated significantly from the previous year, materially affecting company-wide performance.」
At VENCE EXCHANGE, customer numbers fell to 92.2% of the previous year's level, and profitability deteriorated through increased price reductions associated with inventory disposal, a lower gross profit margin and a higher SG&A ratio.