OREANDA-NEWS. July 03, 2012. At a meeting of the Board of Directors, Sogo & Seibu Co., Ltd., a consolidated subsidiary of Seven & i Holdings Co., Ltd., resolved to terminate operations at Seibu Numazu and Sogo Kure. The details are provided below:

Reason for Terminations of Store Operations

In the Seven & i Group's department store operations, Sogo & Seibu is taking steps to strengthen its business and management foundation as well as to enhance its asset efficiency. As a part of those initiatives, Sogo & Seibu has considered future possibilities of store performances, and made the decision to close Seibu Numazu and Sogo Kure.

Overview of Store Closures (1) Seibu Numazu

Store name

Seibu Numazu

Head office

3-1-1 Otemachi, Numazu-shi, Shizuoka

Opened

1957

Sales floor space

9,732 square meters

Net sales

Fiscal year ended February 29, 2012: 7.4 billion yen

Employees

180 employees (full-time employees 66, part-time employees 114; as of the end of May 2012)

 

Closure date (planned)

January 31, 2013

(2) Sogo Kure

 

Store name

Sogo Kure

Head office

1-1-1 Nishi-chuo, Kure-shi, Hiroshima

Opened

1990

Sales floor space

21,395 square meters

Net sales

Fiscal year ended February 29, 2012: 8.9 billion yen

Employees

200 employees (full-time employees 82, part-time employees 118; as of the end of May 2012)

 

Closure date (planned)

January 31, 2013

3. Impact on Business Results

The impact of the store closures on the Company's consolidated business results will be minimal.