Seiyu, the Japanese affiliate of Wal-Mart Stores, has reportedly warned that it now that it now estimates a much worse than expected group net loss of Y12.3bn ($113.7m(for the financial year ended December 31.
This figure is nearly three times the size of its October estimate of a loss of Y4bn ($36.7m).
The retailer stated that unseasonably warm weather in the country led to weak sales of heavy clothing, bedclothes and heaters at Japanese supermarkets.
The company also noted its inability to attract shoppers to its sales campaign and to other events.
This figure is nearly three times the size of its October estimate of a loss of Y4bn ($36.7m).
The retailer stated that unseasonably warm weather in the country led to weak sales of heavy clothing, bedclothes and heaters at Japanese supermarkets.
The company also noted its inability to attract shoppers to its sales campaign and to other events.
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