Last year's financial results for the major apparel company World were a record loss of 17.1 billion yen due to a series of temporary closures of stores due to the spread of the new coronavirus infection and a series of declines in sales.
According to the announcement, World's financial results for the last year were 180.3 billion yen, a decrease of 23.7% from the previous year, and the final loss was 17.1 billion yen.
The deficit width is the largest ever.
This was due to a series of temporary closures of stores due to the declaration of an emergency due to the spread of the new coronavirus infection, as well as a large drop in demand for clothing for going out due to the spread of remote work and the cancellation of events.
In addition to abolishing unprofitable brands, the company is working to reduce costs by closing 450 stores, which is 20% of the total, and the final profit and loss for the year to March next year is 3.5 billion yen. Is expected to be in the black.
In the apparel industry, Sanyo Shokai posted a final deficit for the fifth consecutive term in last year's financial results due to the effects of the new coronavirus, and Onward also posted a final deficit for the second consecutive term.