"J. Front Retailing," which operates Daimaru and Matsuzakaya, has a one-year financial result up to February due to the closure of department stores and shortened business hours due to the spread of the new coronavirus infection, resulting in a final profit and loss of 261 It became a deficit of 100 million yen.
The final deficit is the first time since the group was established.
J. Front Retailing announced that the group's financial results for the year ending February were 319 billion yen, 33.6% lower than the previous year, and the final loss was 26.1 billion yen. ..
This is the first full-year final deficit since Daimaru and Matsuzakaya merged to form the group in 2007.
This is due to the fact that department stores and other stores have been closed due to the declaration of an emergency due to the spread of the infection, and that the number of foreign tourists, which has been a pillar of sales, has decreased sharply in recent years.
By February next year, we expect sales of 394 billion yen and final profit of 4 billion yen due to the opening of new stores and strengthening of online sales.
At an online press conference, President Tatsuya Yoshimoto said, "We must take the opportunity to make bold changes on the premise that we will not return to the state before the spread of the infection."
Takashimaya also posted the final deficit for the first time in 17 years in the financial results of a major department store, and the impact of the new Corona is clearly reflected in its business results.