Shimamura Co. is reporting an increase of 7%, about 30.5 billion yen in operation profits for the nine months finishing up in November. Overall sales were up 3% to 330 billion yen while same-store-sales decreased over this time (blamed on warm weather in the summer and early fall) though profits were still up.
Shimamura has been taking a run at Fast Retailing and other fast-fashion retailers by aggressively opening new stores outside their traditional stronghold of the suburbs and into Tokyo and other major urban areas. The latest of such openings occurred in October when Shimamura opened the largest shores in Yokohama, where sales are actually doing well.
Information Shimamura Co.