Operating company of Daimaru and Matsuzakaya Interim settlement deficit 16.3 billion yen First after business integration October 13, 18:23
"J. Front Retailing," which operates major department stores Daimaru and Matsuzakaya, has had to close its stores for half a year until August due to the influence of the new coronavirus, so the final profit and loss is For the first time in the interim settlement of accounts, the deficit was 16.3 billion yen.
According to the group's financial results for half a year until August, which was announced by "J. Front Retailing" on the 13th, sales were 147.4 billion yen, a decrease of 34% from the same period of the previous year.
The final loss was 16.3 billion yen, which was a large deficit from the 14.3 billion yen surplus of the same period of the previous year.
The final deficit in the interim results is the first time since Daimaru and Matsuzakaya merged to form "J. Front Retailing" in 2007.
This is due to the sharp drop in sales of foreign tourists due to the impact of the new coronavirus and the fact that most stores were forced to close from April to May when the state of emergency was declared.
However, due to the recovery trend in sales and the reduction of labor costs and advertising costs, the deficit has narrowed from the previous forecast of over 20 billion yen.
At the press conference, President Tatsuya Yoshimoto said, "While mishandling will jeopardize the survival of the company, it is also a great opportunity to push forward with bold reforms. I would like to consider a sales method that captures customer demand." He showed his intention to focus on sales.