Japan retailers look abroad
Article Abstract:
Odakyu Electric Railway has agreed to close its newest department store in Sagamiono in Tokyo, Japan, by end of May 1998 to let American Malls International, an American developer, to develop the site. The site is planned to be developed and converted into an upscale mall that will offer international brands. Odakyu's announcement only shows that the smaller retail market of Japan has a weak demand due to absence of competition in the sector. Reportedly, the sector lacks variation of merchandise sold needing more-focused specialty stores that are usually foreigners.
Comment:
Will develop the site that Odakyu Electric Railway's newest dept store in Tokyo, Japan, by end of 5/98
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Tokyu plan elicits doubts: few investors see 'rebirth' as turning point
Article Abstract:
Tokyu Department Store has informed investors it will shut down one of its best stores in Japan, and others stores in Asia, in keeping with a five-year renaissance strategy. However, analyst Masahiro Matsuoka cautions that the company's debts may turn out to be a larger percentage of assets than Tokyu is revealing. The company hopes the closure and sale will produce 70 bil yen, or $602.7 mil, to aid in the funding of the company's restructuring plan.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Indian chain bucks tradition
Article Abstract:
Indian department store Shoppers' Stop has increased sales and profits by offering western products. The privately held company is the only retail chain in India that sells a wide variety of western goods, which comprise 33% of its inventory. Its retail sales increased 10% for the year ended in Mar 1998, while net profit rose by whopping 150% to $2.5 million. The company plans to open 12 more stores in five to six years.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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