Local News

Second Straight Current Loss for Izutsu-ya

The Kitakyushu-based department store company Izutsu-ya released its consolidated interim report as of August 2009, which showed that the company has posted a current loss for the second year in a row. The loss totaled 169 million yen on sales of 48.429 billion yen, a decline of 6.1%. The company attributed the performance to a sharp downturn in sales of upscale goods due to the stagnant economy, and the heavy rains and poor weather in the area in July.

Published: Oct 8, 2009 / Last Updated: Oct 8, 2009

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