One day after the Carrefour announcement, the Chinese exit of the Japanese department store operator, in late August 2019, almost went unnoticed. Opened in 2012, its Chinese department store located in Shanghai (in Gubei area) posted a loss in 2018 again, for the 7th consecutive year. The firm cited “unexpected structural change in consumption, stiff competition and weak physical retail” as reasons for the closure.
According to observers, Takashimaya also came to China a bit too late
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