What: Odakyu department store business has been considerably affected in 2022.

Why it is important: The bad performance is not linked to traffic or consumption as the transportation and the hospitality businesses of the same group are both rising on the same period.

Odakyu department stores, which belong to the Japanese railway company Odakyu Electric Railway, saw its revenue down -41.1% to JPY5.78bn, for the full year 2022. Interestingly, this is not correlated to traffic, as the total passenger traffic carried by the train division increased +5.6% and the hotel business division increased its sales by +90.3%.

Odakyu department stores are down -41,1% FY in 2022