JAPAN: Chain store Okuwa announces H1 results
Yesterday (11 October), the major Japanese retailer Okuwa revealed that its H1 pre-tax profit was down 6% on the same period in 1999, reaching only ¥1.49bn. Net profit had fallen 12% to ¥550m, and sales reached ¥101.7bn, an increase of 7% that was bolstered by turnover from new outlets.This year, the chain has borne considerable administration expenses in advertising, opening new stores and outlet leasing fees. It also incurred extraordinary losses through closing four unprofitable outlets. In addition, a dip in the retail cost of food products has meant that Okuwa's profit margin has fallen 0.5 points to 27%.For the next six months, the chain has projected sales figures to rise by 7%, to ¥208bn. By purchasing equipment in bulk, Okuwa also hopes to save ¥100m on the costs involved in opening one large shopping mall and five new outlets, which will total around 2,000m². Pre-tax profit during this period is expected to reach ¥3.1bn, a 29% increase.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Analysis: Tyson's shrewd investment in Beyond Meat
- Price an underlying tension across European FMCG
- Thailand: convenience to continue to thrive
- Danone's Q3 sales - what the analysts say
- Interview: Some Foods on rise of low-FODMAP market
- Bel takes majority stake in MOM Group
- Mars launches Maltesers in the US
- Nestle lowers outlook on "softer environment"
- Unilever in continuing price spat with Musgrave
- China milk powder arrests prompt Fonterra "review"
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Packaged Food: Quarterly Statement Q3 2016
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review