Fast Retailing Co. said Monday it will terminate its fresh food business after abandoning hope of turning a profit from selling premium vegetables.
The operator of the Uniqlo casual clothing chain said it will close all Skip stores by the end of April and disband its subsidiary FR Foods Co., which operates the stores, in June. The decision comes less than two years after the launch of the business.
"We have studied various measures to keep our operations, but we have no clear prospect of moving into the black," FR Foods President Osamu Yunoki told a news conference.