Menswear retailer Aoyama to reduce floor space of 400 stores
Hiroshima – Menswear retailer Aoyama Trading Co. will reduce floor space in around 400 stores, amid declining demand for business suits reflecting the growing use of telecommuting amid the coronavirus pandemic, he said. – we learned on Wednesday.
Aoyama Trading is expected to close around 160 of its 850 stores by the end of March 2022. It will reduce the floor space of approximately 400 of the remaining stores by the end of March 2024, while introducing an online inventory management system. , informed sources said.
The company plans to use the vacant space created by the reduction as a new source of income. He plans to invite convenience stores, gyms and other businesses to use the space as well as open shared offices, according to the sources.
The company will also work to strengthen sales of casual clothing, as well as tailored suits.
For the year through March, Aoyama Trading is bracing for a group net loss of 2.92 billion yen.
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