Three major department stores announced their financial results for the six months to August, and the effects of the new coronavirus continued, such as restrictions on admission at some sales floors. Both were in the red.
According to the financial results for the six months to August announced by major department stores, domestic department store sales were
▽ Takashimaya was 296.6 billion yen, an increase of 19% from the same period of the previous year, and
▽ Daimaru Matsuzakaya. Department stores increased 27% to 225.3 billion yen, and
Sogo & Seibu increased 7% to 210.1 billion yen.
Due to the impact of the new coronavirus, sales increased due to a reactionary reaction to the large-scale suspension of business in the previous fiscal year, but due to the re-expansion of infection, admission to the food department, which is one of the pillars of profits, was restricted. For some reason, it is still far below the level before Corona.
As a result, operating profits and losses, which indicate the profits of the main business in the domestic department store business, were
▽ Takashimaya's deficit of 6.8 billion yen,
▽ Daimaru Matsuzakaya Department Store's deficit of 400 million yen, and
▽ Sogo & Seibu's 4.9 billion yen. It became a deficit.
With the cancellation of the state of emergency, domestic economic activities are gradually normalizing, and it is an issue for department stores to take measures against infection and how to recover the number of customers.