Demand for suits decreased due to increased work from home 2 major men's clothing companies April-June final deficit August 7 18:03
Both Aoyama Shoji Co., Ltd., a major men's clothing company, and AOKI Holdings Co., Ltd. have been in the final deficit for the three months from April to June. This was due to a decrease in demand for suits due to an increase in work from home due to the spread of the new coronavirus infection.
Aoyama Shoji's financial results for the three months from April to June are 48% lower than last year's sales for the entire group by 28.8 billion yen, with a final loss of 9.2 billion yen and a loss of 9.2 billion yen last year. The deficit amount swelled more than double.
In addition, AOKI Holdings' financial results for the three months from April to June this year, sales fell 39% from the same period last year to 26.2 billion yen, and the final loss was 6.4 billion yen. It was the largest deficit in the history.
Both companies continued to have temporary store closures due to the spread of the new coronavirus, and demand for business suits dropped further due to an increase in work from home.
AOKI Holdings says, "We would like to improve our profitability by strengthening proposals for business styles that suit our new lifestyle and mask sales."