Struggling retailer Daiei Inc. reported Friday a consolidated net loss of 511.2 billion yen for the year through February, with the firm having booked hefty restructuring costs.
The supermarket chain had a tough year in its mainstay retail business; its prospects are no less dismal for the current business year, as it lacks effective measures that promise to lure shoppers back quickly.
The firm, which operates 263 stores nationwide, has been trying to turn itself around with the help of the state-backed Industrial Revitalization Corp. of Japan.