Isetan Mitsukoshi Holdings Ltd. said Thursday it posted a ¥63.52 billion consolidated net loss in fiscal 2009, which ended in March, amid sluggish consumption and severe competition with other retailers.
Isetan Mitsukoshi, created by a management integration in April 2008 between department store chains Isetan Co. and Mitsukoshi Ltd., logged a group net profit of ¥4.68 billion in fiscal 2008. For the 12-month period to March 31 this year, Isetan Mitsukoshi posted an operating profit of just ¥4.18 billion, down 78.7 percent from the previous year, and a pretax profit of ¥19.73 billion, down 43.7 percent.
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