Isetan Mitsukoshi Holdings Co., Ltd., a major department store, announced on the 27th that its nine-month financial results up to last month had a record loss of 34.7 billion yen due to the impact of the new coronavirus.
In addition, in light of the impact of the state of emergency, we have revised our sales outlook for the current year downward.
The Group's financial results from April last year to last month announced by Isetan Mitsukoshi Holdings are 602.4 billion yen, a 31% decrease from the same period of the previous year, and the final profit and loss is 78 of the same period of the previous year. It turned from a surplus of 100 million yen to a deficit of 34.7 billion yen.
Due to the impact of the new coronavirus, stores were forced to close and business hours were shortened, and the demand for foreign tourists who supported sales almost disappeared.
In addition, the one-year earnings forecast up to March has also been revised downward to 800 billion yen by lowering the sales outlook by 15 billion yen, taking into account the shortening of business hours due to the declaration of an emergency.
The outlook for final profit and loss remains unchanged at 45 billion yen, as it will reduce advertising and other expenses.
In the future, we would like to strengthen our online shopping business and improve our business performance by focusing on remote customer service using smartphone apps at stores.