Aoyama Trading Co., Ltd., a major men's clothing company that develops "Clothing Aoyama," posted a record loss of 18.1 billion yen in its final profit and loss for the nine months until December last year.
This is because the demand for suits has fallen due to the increase in telecommuting due to the spread of the new coronavirus infection.
According to Aoyama Trading's financial results from April to December last year, the sales of the entire group decreased by 32.3% from the same period of the previous year to 105.7 billion yen, and the final profit and loss was 18.1 billion yen, which is the third quarter financial results. It was the largest deficit since 2004.
In addition to the increase in telecommuting due to the spread of the new corona virus and the decline in demand for suits, the number of weddings and events has decreased, and sales of formal wear have also decreased.
Aoyama Trading wants to improve its business performance by reducing costs through closing unprofitable stores and voluntary retirement, and strengthening online shopping.
In the men's clothing chain, "Haruyama Holdings" also posted a final deficit of 2.8 billion yen for the nine months until December last year, and "AOKI Holdings" also recorded the largest record of 11.4 billion yen at the same time. The final deficit of the yen has been reached, and the business environment is becoming more difficult due to changes in working styles due to the spread of the new coronavirus infection, such as the spread of working from home.