Isetan Mitsukoshi Holdings has announced its third quarter financial results for the fiscal year ending March 2013.
Consolidated results for the third quarter were sales of 919,607 million yen (down 1.4% from the same quarter last year), operating profit of 24,121 million yen (down 2.8% from the same quarter last year), ordinary profit of 26,183 million yen (down 24.0% from the same quarter last year), and quarterly net profit of 17,557 million yen (down 68.7% from the same quarter last year).
Of this, sales for the department store business as a whole were 834,738 million yen (down 1.7% from the same quarter last year), and operating profit was 16,975 million yen (down 6.6% from the same quarter last year). While overall sales at domestic group department stores outside the Tokyo metropolitan area fell below the previous year's figures, Sendai Mitsukoshi, Hiroshima Mitsukoshi, and Takamatsu Mitsukoshi all posted year-on-year increases.
Currently, redevelopment is underway at Isetan Shinjuku Main Store, with each floor and shop being remodeled and reopened in sequence, with the grand opening scheduled for March 2013. Starting with the opening of the women's underwear section "Ma Lingerie" in June 2012, new small-scale store developments include the opening of the "Isetan Haneda Store" at Haneda Airport in April 2012, focusing on men's accessories and food gifts, the "Isetan Outlet Store" at Sano Premium Outlets in July, the second store of the luxury cosmetics selection shop "Isetan Mirror" at Lumine Omiya in September, and the third store at Celeo Hachioji on January 26, 2013.
Furthermore, in the web business, one of our key growth areas, we established Fashion Headline Co., Ltd., a joint venture with IID Co., Ltd., whose main business is operating news sites, on December 3, 2012, and launched the comprehensive fashion news site "FASHION HEADLINE." We have also pre-launched a new website, "ISETAN PARK net," which will disseminate information about Isetan Shinjuku Main Store using various social media platforms on the Internet.
Overseas, we are continuing to develop markets in China and Southeast Asia, where steady growth is expected to continue, and in May 2012 we opened our fourth store, the Wang Wutama store, in Malaysia. Furthermore, our second store in Tianjin, China, had a soft opening in December 2012, and had its grand opening on January 18, 2013.
Consolidated results for the third quarter were sales of 919,607 million yen (down 1.4% from the same quarter last year), operating profit of 24,121 million yen (down 2.8% from the same quarter last year), ordinary profit of 26,183 million yen (down 24.0% from the same quarter last year), and quarterly net profit of 17,557 million yen (down 68.7% from the same quarter last year).
Of this, sales for the department store business as a whole were 834,738 million yen (down 1.7% from the same quarter last year), and operating profit was 16,975 million yen (down 6.6% from the same quarter last year). While overall sales at domestic group department stores outside the Tokyo metropolitan area fell below the previous year's figures, Sendai Mitsukoshi, Hiroshima Mitsukoshi, and Takamatsu Mitsukoshi all posted year-on-year increases.
Currently, redevelopment is underway at Isetan Shinjuku Main Store, with each floor and shop being remodeled and reopened in sequence, with the grand opening scheduled for March 2013. Starting with the opening of the women's underwear section "Ma Lingerie" in June 2012, new small-scale store developments include the opening of the "Isetan Haneda Store" at Haneda Airport in April 2012, focusing on men's accessories and food gifts, the "Isetan Outlet Store" at Sano Premium Outlets in July, the second store of the luxury cosmetics selection shop "Isetan Mirror" at Lumine Omiya in September, and the third store at Celeo Hachioji on January 26, 2013.
Furthermore, in the web business, one of our key growth areas, we established Fashion Headline Co., Ltd., a joint venture with IID Co., Ltd., whose main business is operating news sites, on December 3, 2012, and launched the comprehensive fashion news site "FASHION HEADLINE." We have also pre-launched a new website, "ISETAN PARK net," which will disseminate information about Isetan Shinjuku Main Store using various social media platforms on the Internet.
Overseas, we are continuing to develop markets in China and Southeast Asia, where steady growth is expected to continue, and in May 2012 we opened our fourth store, the Wang Wutama store, in Malaysia. Furthermore, our second store in Tianjin, China, had a soft opening in December 2012, and had its grand opening on January 18, 2013.
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