On April 4, Seven & i Holdings announced its consolidated financial results for the fiscal year ending February 2013.
... As a result, although the growth rate of sales at existing stores exceeded the previous year's, the large negative impact of the Seibu Numazu and Sogo Kure stores, which were closed at the end of January this year in an effort to concentrate management resources and improve asset efficiency, ultimately resulted in a loss.
Next fiscal year, the company will further expand on the successful store renovations that began with the Seibu Ikebukuro main store. Following on from last year, the Sogo Yokohama store will be renovated, and the Sogo Omiya store will also undergo a large-scale renovation. For the department store business as a whole, including Loft, next fiscal year, the company expects operating revenue to increase 0.3% to 887 billion yen and operating profit to increase 10.8% to 8.9 billion yen.
... As a result, although the growth rate of sales at existing stores exceeded the previous year's, the large negative impact of the Seibu Numazu and Sogo Kure stores, which were closed at the end of January this year in an effort to concentrate management resources and improve asset efficiency, ultimately resulted in a loss.
Next fiscal year, the company will further expand on the successful store renovations that began with the Seibu Ikebukuro main store. Following on from last year, the Sogo Yokohama store will be renovated, and the Sogo Omiya store will also undergo a large-scale renovation. For the department store business as a whole, including Loft, next fiscal year, the company expects operating revenue to increase 0.3% to 887 billion yen and operating profit to increase 10.8% to 8.9 billion yen.
