Isetan (Singapore) more than doubles losses in Q3

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Isetan (Singapore) more than doubles losses in Q3

Postby tankee » Sat Nov 14, 2015 3:49 pm

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

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby ChiefKiasu » Sat Nov 14, 2015 4:18 pm

tankee wrote: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.

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby sleepy » Sat Nov 14, 2015 4:45 pm

Quickly go use up your vouchers!

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby ChiefKiasu » Sat Nov 14, 2015 5:42 pm

sleepy wrote:Quickly go use up your vouchers!


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

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby sleepy » Sat Nov 14, 2015 6:10 pm

Why? They already collected money for vouchers sold

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby janet88 » Sat Nov 14, 2015 6:31 pm

ChiefKiasu wrote: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.

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby ChiefKiasu » Sat Nov 14, 2015 11:18 pm

sleepy wrote: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. :smile:

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby TheAnswer » Sat Nov 14, 2015 11:21 pm

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

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby janet88 » Sun Nov 15, 2015 12:21 am

TheAnswer wrote: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.

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Re: Isetan (Singapore) more than doubles losses in Q3

Postby TheAnswer » Sun Nov 15, 2015 8:07 am

janet88 wrote:
TheAnswer wrote: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..

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