Isetan (Singapore) more than doubles losses in Q3

[ChiefKiasu]

tankee:

The department store operator's third straight quarter of red ink comes as Singapore retailers continue to be hit by rising costs and poor sales, with FJ Benjamin and Metro also recording losses earlier this month.


SINGAPORE: Department store operator Isetan (Singapore) reported on Friday (13 Nov) a third straight quarter of red ink, hurt by lower sales at most of its stores.

Isetan incurred a loss after tax of S$6.15 million in the three months ended September, more than double the loss of S$2.93 million in the same period a year ago. The loss for the third quarter was also higher than the loss of S$5.85 million reported for the second quarter. Sales for the three months was S$68.71 million, a drop of 14 per cent from a year ago....

http://www.channelnewsasia.com/news/sin ... 58644.html

tankee has shares in Isetan?? :?

I find Isetan is sandwiched between lower priced stores like OG, and the more premium stores like Robinsons, Tangs and Takashimaya. Anyway, I think the concept of departmental stores is also losing appeal since the 1990s, probably due to e-commerce.

[sleepy]

Quickly go use up your vouchers!

[ChiefKiasu]

sleepy:

Quickly go use up your vouchers!

Lol. That would speed up the demise of the said company.

[sleepy]

Why? They already collected money for vouchers sold

[janet88]

ChiefKiasu:

I find Isetan is sandwiched between lower priced stores like OG, and the more premium stores like Robinsons, Tangs and Takashimaya. Anyway, I think the concept of departmental stores is also losing appeal since the 1990s, probably due to e-commerce.

yes. I feel the same.
prices of things in isetan are in the mid-range...more affordable than takashimaya and Robinsons. I dislike shopping in individual stores...I like everything under one roof.

[ChiefKiasu]

sleepy:

Why? They already collected money for vouchers sold

Exactly. Essentially, they had booked sales in advanced. Now they have to turn over their inventory and their float disappears.

[TheAnswer]

I have friends who no longer shop/minimize shopping in Singapore… Stock up when overseas… Sometimes big differences in price…

[janet88]

TheAnswer:

I have friends who no longer shop/minimize shopping in Singapore.. Stock up when overseas.. Sometimes big differences in price..

Provided they have time to travel. There are savings if they manage to catch the discounts. For me, I can only shop here.

[TheAnswer]

janet88:

TheAnswer:

I have friends who no longer shop/minimize shopping in Singapore.. Stock up when overseas.. Sometimes big differences in price..

Provided they have time to travel. There are savings if they manage to catch the discounts. For me, I can only shop here.

I have some friends who travel up to 6 times annually.. Business friends.. But those trips are pure holidays.. The frequency is kind of crazy..