Japan's largest department store, Isetan Mitsukoshi, has announced that its full-year net profit fell 11.3% on higher expenses as it remodelled some of its stores. It dropped to 26.5 billion yen on sales up 1.2% to 1.3 trillion yen. It has been trying out new formats such as multi-brand cosmetics stores and an airport format. It also opened Japan Duty Free Ginza on the 8th floor of its Mitsukoshi Ginza store. The company expects net profit to fall again in the current year while operating profit should grow on sales forecast up by 5.7%.

Illustration 'Japanese Department store results' (png - 0.08Mo)