Wanted: shoppers
Article Abstract:
Japanese department-store chain Isetan Co. Ltd. took a surprise decision to open a second store in Shanghai in 1997. The chain opened its first store in 1993 and immediately achieved success with annual sales of $30 million. However, sales growth began to slow in 1996, due to overcrowding in its sector of the retail market. Shanghai has had over 70 new shopping centres in the three years to 1997, and there are 22 department stores with foreign investment. Analysts say these retailers are all targeting the richest 700,000 of Shanghai's population and they anticipate market consolidation.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Crumbling pillars
Article Abstract:
Japanese department store, Mitsukoshi, has decided to build a golf course and it has bought the necessary land. However, the store has been losing money for seven consecutive years, it will not close any of its unsuccessful stores, nor will it alter its decision about the golf course. Other large companies are also losing money. Mitsubishi reported losses 102 billion yen and Mitsubishi Electric lost 106 billion yen. Companies in economic difficulty are those which have not responded to early signs of trouble and restructured or introduced reforms.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Surplus stores
Article Abstract:
The retail industry in Shanghai, China, has seen annual sales growth of 20% but competition is intense due to the large number of retailers. New retailers are constantly attracted to Shanghai, which is seen as a trend-setting city. There are more than 700 supermarkets in the city and the number of department stores has grown. Staff costs are escalating and retailers are spending more on advertising. Higher costs mean that profit margins are shrinking.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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