Seven & I Holdings Co. plans to shut two department stores early next year amid fierce competition from shopping malls, officials said Wednesday.
A Seibu department store in Numazu, Shizuoka Prefecture, and a Sogo store in Kure, Hiroshima Prefecture, have been selected for closure, the officials said.
Seven & I will offer the targeted stores’ employees positions at other group outlets, according to the officials.
Seven & I hopes to improve profitability by concentrating on department stores in downtown Tokyo, including its main Seibu Ikebukuro outlet in Toshima Ward, they added.