Strengthening Large-Format Stores, Daily Necessities and In-Store-Processed Products in South Korea
First written in FY2017-Q1. 12 of 21 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022ReframedAnnual report
「With respect to MINISTOP Korea Co., Ltd., a contract for the transfer of all shares was signed with LOTTE Corporation on 21 January 2022, and the required procedures under South Korea's Monopoly Regulation and Fair Trade Act and the share transfer were completed on 29 March 2022.」
The business of strengthening large-format stores, ready-to-eat foods and in-store-prepared products in South Korea changed from the previous direction to being excluded from the scope of consolidation from the following fiscal year as a result of the transfer of all shares. - FY2022-Q3Stronger product selection failed to lift existing-store daily salesAnnual report
「In response to the distribution of government support payments, we strengthened the selection of tobacco and alcoholic beverages, for which sales growth was expected. We also expanded our offerings of convenience foods, including frozen foods, whose sales were expected to grow with increased at-home consumption, as well as fruit, and strengthened our response to individual store locations, focusing on product ranges suited to life with COVID-19. Existing-store daily sales were 98.4% of the previous year's level.」
In South Korea, product selection and store-location strategies for tobacco, alcoholic beverages, frozen foods and fruit were strengthened, but existing-store daily sales remained at 98.4% of the previous year's level. - FY2022-Q2Broader product selection and stronger delivery failed to lift existing-store daily salesAnnual report
「To support sales growth, we selected priority categories and products each month and improved product selection by monitoring progress at each store. We also strengthened advertising through social media and the web, as well as delivery services, to address the decline in customer visits accompanying the increase in new infections. Existing-store daily sales were 97.9% of the previous year's level.」
Monthly selection of priority categories, store-level progress monitoring, advertising and delivery services were strengthened, but existing-store daily sales in South Korea were 97.9% of the previous year's level. - FY2021-Q3Continued weakness in same-store daily salesAnnual report
「Alcohol sales exceeded the same period of the previous year, but adverse weather, including repeated typhoons, also affected performance. Drinks, prepared rice products and in-store-prepared fast-food products remained sluggish, resulting in existing-store daily sales at 95.0% of the previous year's level. The number of stores at the end of the third quarter of the fiscal year was 2,604.」
Alcohol sales exceeded the same period of the previous year, while drinks, prepared rice products and in-store-prepared fast food remained sluggish due to adverse weather and other factors. Existing-store daily sales were 95.0% of the previous year's level. The number of stores was 2,604. - FY2021-Q2WorsenedAnnual report
「韓国ミニストップ㈱ in South Korea recorded same-store daily sales at 94.6% of the previous year’s level as drinks, sweets and ice cream performed poorly due to government restrictions on going out and unfavorable weather caused by a prolonged rainy season. The store count reached 2,568 as of the end of the second quarter.」
In South Korea, same-store daily sales were 94.6% of the previous year’s level due to restrictions on going out and a prolonged rainy season. The store count declined from 2,585 at the end of the previous quarter to 2,568. - FY2021-Q1WorsenedAnnual report
「韓国ミニストップ㈱ in South Korea recorded same-store daily sales at 91.8% of the previous year’s level as customer traffic declined due to government restrictions on going out. Although the company worked to reduce expenses, including store rents, the operating loss increased from the previous year’s level. The store count reached 2,585 as of the end of the first quarter.」
In South Korea, same-store daily sales were 91.8% of the previous year’s level due to restrictions on going out, and the operating loss increased from the previous year’s level despite efforts to reduce expenses. - FY2020WorsenedAnnual report
「韓国ミニストップ㈱ in South Korea recorded operating income of ¥248 million, or 50.8% of the previous fiscal year’s level, as the gap from its sales plan widened from July 2019 and logistics profitability deteriorated. From July onward, the company reduced SG&A expenses while seeking to recover sales by promoting high-margin in-store-prepared fast-food products, extending the selling periods of rice-based meals and improving customer traffic through expanded payment services. Same-store daily sales were 96.1% of the previous year’s level.」
Despite reducing SG&A expenses and strengthening high-margin products, rice-based meals and payment services, operating income was 50.8% of the previous fiscal year’s level and same-store daily sales were 96.1%, due to the gap from the sales plan and deteriorating logistics profitability. - FY2020-Q3WorsenedAnnual report
「韓国ミニストップ㈱ in South Korea recorded same-store daily sales at 95.6% of the previous year’s level. This was attributed to an insufficient response to intensified competition resulting from changes in the external environment and the expansion of online channels. The company is strengthening management and pursuing reforms on a store-by-store basis to respond rapidly to changes in the environment.」
In South Korea, same-store daily sales were 95.6% of the previous year’s level, which the company recognized as resulting from an insufficient response to intensified competition. It is strengthening store-by-store management and pursuing reforms. - FY2020-Q2AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea recorded same-store daily sales at 95.7% of the previous year’s level as drinks, sweets, alcoholic beverages and ice cream performed poorly due to the diversification of products handled online and unfavorable weather, among other factors. The store count reached 2,566 as of the end of the second quarter.」
The store count in South Korea increased from 2,560 at the end of the previous quarter to 2,566, while same-store daily sales were 95.7% of the previous year’s level due to unfavorable weather and other factors. - FY2020-Q1AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea recorded same-store daily sales at 97.1% of the previous year’s level due to unfavorable weather. However, operating income in the first quarter showed an improving trend year on year as a result of improving the gross profit margin and thoroughly reducing expenses. The store count reached 2,560 as of the end of the first quarter.」
In South Korea, the company improved margins and reduced expenses, bringing the store count to 2,560. Same-store daily sales, however, were 97.1% of the previous year’s level due to unfavorable weather. - FY2019AdvancedAnnual report
「To offset the rise in the minimum wage by promoting higher-margin products, 韓国ミニストップ㈱ in South Korea increased store size and strengthened efforts to promote rice-based meals and in-store-prepared fast food. As a result, the gross profit margin exceeded the previous year’s level at 26.4%, up 0.3 percentage points from the previous fiscal year. The store count at the end of the fiscal year increased by 55 from the previous year to 2,556.」
In response to the higher minimum wage, the company strengthened large-format stores, rice-based meals and in-store-prepared fast food, improving the gross profit margin by 0.3 percentage points to 26.4% and increasing the store count to 2,556. - FY2019-Q3AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea improved its gross profit margin by 0.3 percentage points year on year, contributing to improved operating income, through continued efforts to expand prepared-food offerings centered on rice-based meals and to promote staple foods and hot desserts among in-store-prepared fast-food products. The store count reached 2,538 as of the end of the third quarter.」
In South Korea, the company strengthened prepared foods centered on rice-based meals, as well as staple foods and hot desserts, improving the gross profit margin by 0.3 percentage points year on year. The store count reached 2,538. - FY2019-Q2AdvancedAnnual report
「To address the decline in customer traffic caused by tobacco regulations, 韓国ミニストップ㈱ in South Korea sought to increase sales by expanding prepared-food offerings, particularly rice-based meals. As a result, rice-based meal sales reached 104.4% of the previous year’s level, exceeding the previous year.」
To address the decline in customer traffic caused by tobacco regulations, the company expanded prepared-food offerings, particularly rice-based meals, which reached 104.4% of the previous year’s level. Same-store daily sales, however, were 98.4%. - FY2019-Q1AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea pursued format reforms focused on strengthening prepared foods and improved its product selection by extending the selling periods of mainly bento products, resulting in prepared-food sales exceeding the previous year. Operating revenues were 101.1% of the previous year’s level, reflecting the increase in store count. It opened 86 stores and closed 60, bringing the store count to 2,527 as of the end of the first quarter.」
In South Korea, format reforms focused on prepared foods and the extension of bento selling periods led prepared-food sales to exceed the previous year. The store count reached 2,527. - FY2018AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea increased store size and strengthened its rice-based meal offering, but customer traffic declined due to the impact of tobacco regulations, resulting in same-store daily sales at 95.8% of the previous year’s level. The store count at the end of the fiscal year increased by 139 from the previous year to 2,501.」
In South Korea, the company expanded store size and strengthened rice-based meals, increasing the store count by 139 to 2,501. Same-store daily sales were 95.8% of the previous year’s level due to the impact of tobacco regulations. - FY2018-Q2AdvancedAnnual report
「The company sought to increase sales by expanding fast-food and prepared-food offerings to offset the decline in customer traffic caused by lower tobacco demand, but same-store daily sales were 95.6% of the previous year’s level versus a plan of 100.1%, due to South Korea’s prolonged economic stagnation and unfavorable summer weather. It opened 155 stores and closed 97, bringing the store count to 2,420 as of the end of the second quarter.」
In South Korea, the company continued expanding fast-food and prepared-food offerings and increasing store size, opening 155 stores and closing 97 to bring the store count to 2,420. Same-store daily sales fell below plan. - FY2018-Q1AdvancedAnnual report
「Operating income was 16.8% year on year as the company actively expanded store size to increase prepared-food offerings and carried out concentrated store renovation work. It opened 78 stores and closed 46, bringing the store count to 2,394 as of the end of the first quarter.」
In South Korea, the company expanded and renovated stores to strengthen prepared-food offerings, opening 78 stores and closing 46, and increased the store count to 2,394. Operating income was 16.8% of the previous year’s level following the expansion and renovations. - FY2017AdvancedAnnual report
「The company opened new-format stores with expanded refrigerated sales areas to meet customer needs, increasing initial investment and causing results to fall below the previous year. Store development promoted a scrap-and-build strategy. It opened 325 stores and closed 187, increasing the store count at the end of the fiscal year by 138 from the previous year to 2,362.」
In South Korea, the company opened new-format stores with expanded refrigerated sales areas, opening 325 stores and closing 187, and increased the store count to 2,362. - FY2017-Q3AdvancedAnnual report
「韓国ミニストップ㈱ in South Korea increased its store count through openings exceeding plan, and operating revenues exceeded the previous year in local-currency terms. It opened 257 stores and closed 141, bringing the store count to 2,340 as of the end of the third quarter of fiscal 2016 (the end of November 2016).」
In South Korea, store openings exceeded plan, with 257 stores opened and 141 closed, bringing the store count to 2,340. Operating income fell below the previous year as larger stores increased equipment costs. - FY2017-Q2AdvancedAnnual report
「As a result of active store development, 179 stores were opened and 100 were closed, bringing the store count to 2,303 as of the end of the second quarter of fiscal 2016 (the end of August 2016).」
In South Korea, 179 stores were opened and 100 were closed, bringing the store count to 2,303. The expansion of large-format stores, daily-delivery products and in-store-prepared products, along with store development, is continuing. - FY2017-Q1First statedAnnual report
「Sales increased as the company expanded the number of large-format stores with stronger offerings of daily-delivery products and in-store-prepared fast food.」
In South Korea, the company is combining the rollout of large-format stores with stronger offerings of daily-delivery products and in-store-prepared fast food.