TOKYO (Reuters) – The Japanese unit of McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) forecast deeper losses this year and said it would renovate 2,000 stores while closing underperforming outlets, as it struggles to bring back customers after a series of food safety scandals.
The company’s woes have also been exacerbated by a shortage of french fries in 2014 due to a U.S. ports dispute, while competition from rivals has only intensified with convenience stores in particular offering broader ranges of ready-made meals and low-priced coffee.
TOKYO, April 9 (Reuters) – Fast Retailing Co Ltd
raised its full-year earnings forecasts on Thursday after sales
at its Uniqlo casual-wear stores in Greater China and South
Korea grew more strongly than expected, showing that its
overseas expansion is bearing fruit.
Overseas growth is key to the Japanese firm’s goal of
becoming the world’s top apparel retailer by 2020 ahead of
Zara-owner Inditex SA, Hennes & Mauritz AB (H&M)
and Gap Inc.
TOKYO, April 8 (Reuters) – Canon Inc said it was
extending the offer period for its proposed $2.7 billion
takeover of Swedish video-surveillance firm Axis AB
after falling short of its ownership goals, but stressed it
would not be raising its bid.
Seeking to expand in the fast-growing surveillance camera
business amid flagging sales of digital cameras, Canon is set to
secure a holding of 76 percent after its earlier acceptance
period expired, but it is aiming to take full control.
TOKYO, April 2 (Reuters) – Seven & i Holdings
forecast on Thursday another year of record profits and
convenience store openings, expressing confidence in the
strength of its 7-Eleven business despite a slump in Japanese
Japanese consumers tightened their wallets after a sales-tax
hike last April eroded their purchasing power, with household
spending haven fallen every month since then.
TOKYO, Jan 15 (Reuters) – Uniqlo-owner Fast Retailing Co Ltd
has told two suppliers in China to improve factory
working conditions after an inspection by the Japanese apparel
retailer found problems, including long working hours.
The move comes after SACOM, a Hong Kong-based advocacy
group, issued a report saying employees at Dongguan Tomwell
Garment Co Ltd and Pacific (Pan Yu) Textiles Ltd were working
excessive hours in unsafe conditions, including high
temperatures, poor ventilation and floors covered with sewage.
TOKYO (Reuters) – Japanese clothing firm Fast Retailing Co Ltd (9983.T: Quote, Profile, Research, Stock Buzz) suggested it may lift its full-year profit guidance as global expansion takes root, with strong overseas sales at its flagship Uniqlo brand helping to boost quarterly profit more than expected.
Growth outside its home turf is key to Fast Retailing reaching its target of becoming the world’s top apparel retailer ahead of Zara-owner Inditex SA (ITX.MC: Quote, Profile, Research, Stock Buzz), Hennes & Mauritz AB (H&M) (HMb.ST: Quote, Profile, Research, Stock Buzz) and Gap Inc (GPS.N: Quote, Profile, Research, Stock Buzz) in coming years.
TOKYO, Jan 8 (Reuters) – Fast Retailing Co Ltd’s
first-quarter operating profit rose a higher-than-expected 40
percent as price hikes in Japan and strong overseas sales
boosted revenue at its flagship Uniqlo brand.
Asia’s biggest apparel retailer said on Thursday its
operating profit rose to 91.4 billion yen ($763 million) in the
September-November quarter from 65.31 billion yen a year
TOKYO (Reuters) – McDonald’s Japan (2702.T: Quote, Profile, Research, Stock Buzz) has apologised to customers and vowed to ensure product safety after objects including a tooth and plastic were found recently in its food, the latest trouble for a fast-food chain hit by sliding sales and a shortage of french fries.
The chain, 49.9 percent-owned by McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz), has been grappling with falling sales that began long before a food safety scandal last summer hit confidence in its products. Convenience stores in particular have drawn away customers with broader ranges of ready-made meals and low-priced coffee.
TOKYO (Reuters) – Joshua and Benny Safdie’s “Heaven Knows What,” the story of a young heroin addict who finds love in the streets of New York, took the top prize at the Tokyo International Film Festival on Friday.
The Safdie brothers also won the best director award for the U.S.-French production, which is based on a real-life account of the female lead, Arielle Holmes, and co-stars Caleb Landry Jones of “X-Men: First Class” fame.
TOKYO (Reuters) – “Super Mario Bros” creator Shigeru Miyamoto has produced some of the world’s biggest video game hits over the past three decades, and now he has added film producer to his long list of credits.
Miyamoto unveiled his latest project, “PIKMIN Short Movies”, at the Tokyo International Film Festival over the weekend – a 3D short-animation film based on Nintendo game characters of the same name.