Ito-Yokado Archives - Inside Retail Asia
Japanese household goods store The Loft is preparing to open a new store in China’s Chengdu with local superstore business Chengdu Ito-Yokado.
7-Eleven parent Seven & I has reported a 15.8 per cent increase in net sales for the nine months to November.
Overseas growth in the 7-Eleven convenience store business drove a modest increase in profit for Japanese retail group Seven & I Holdings.
Seven & I plans to triple its network of supermarkets and department stores in China.
Japanese retail giant Seven & I plans to close 40 of its Ito-Yokado branded supermarkets and general merchandise stores by 2020.
Established supermarket chains across Japan are feeling the pinch as consumers opt to shop at Japan convenience stores instead.
Uniqlo founder Tadashi Yanai has topped Forbes magazine’s list of the richest people in Japan with an estimated net worth of US$21.1 billion.
Japanese retail giant Seven & I Holdings is to partner with an Osaka supermarket chain Mandai.
Japanese retail powerhouse Seven & I Holdings says it will provide same-day delivery of products its group brands sell online. Seven & I operates Ito-Yokado supermarkets, and the Sogo and Seibu department stores, all of which now offer eCommerce websites. From next year customers in Tokyo will be able to receive their purchases the same day they order them. If the system works well, other cities will be progressively included in the program. Alternatively, customers will be able…
Japanese department store Ito-Yokado has further trimmed its China network. Ito-Yokado is shutting down another store in the capital city after closing another in Wangjing in April. Unconfirmed reports say it is scheduled to close another store in the subdistrict of Beiyuan on August 31 citing continuous losses as the reason. The retailer has been struggling in the market since expanding there in 2001 due to fierce competition. The closure will take its Beijing stores to just seven.
Japanese general merchandise retailer Ito Yokado is to shut down its Beijing store on April 25. The store has been trading for eight years. The company blames the closure on its unsatisfactory performance triggered by increasing competition with online retailers. According to Kantar Worldpanel’s report, the penetration of e-commerce is now 29 per cent, up from 19 per cent two years ago and thrives in key cities where penetration is as high as 46 per cent. Once the closure completes, …
Japanese retailer Ito-Yokado is to open its first shopping mall in China in Chengdu. The mall is scheduled to open next year, will have a gross floor area of 110,000 sqm and be home to 150 tenants. Ito-Yokado, which is a unit of 7-Eleven parent Seven & I Holdings, says it still has high hopes in the Chinese market despite the nation’s economic slowdown. The retailer plans a total of three shopping malls in Chengdu by 2016 with an investment of 1 billion yen ($10 million) each and an…