For the first quarter of the current financial year from March to May 2020, Japanese department store retailers have reported heavy losses, according to Japan Times:

• J Front (Daimaru and Masuzakaya) sales were down 58.6% to Y113.4 bn, with an operating loss of Y27.1 bn.
• Takashimaya sales were down 48% to Y116.2 bn, with an operating loss of Y7.3 bn.
• At Sogo & Seibu, sales were down 53.4% to Y68 bn, with operating loss of Y1.2 bn.
• Matsuya lost 69.5% of sales bringing it to Y6.9 bn, while operating losses reached Y959 m.

All four experienced extraordinary losses on top of that due to personnel costs related to store closures during the virus crisis.

Customer numbers remain low even though stores have reopened, and like everywhere, the severe absence of foreign visitors continues to deal a blow to sales.