J. Front Retailing, which operates major department stores such as Daimaru and Matsuzakaya, has announced that it has revised its earnings forecast for the entire group up to last month downward to a final deficit of 26 billion yen.
The deficit has expanded by 7.4 billion yen compared to previous expectations, and this is due to the fact that the number of customers visiting the store and sales have decreased significantly due to the impact of the state of emergency since January.