Reuters reported that its owner, Ryohin Keikaku Co, aims to close unprofitable stores and renegotiate rents in the States. !8 stores have been closed since mid-March due to the pandemic. However, Ryohin Keikaku clarified that the filing in the US will not affect its operations in other markets.
That being said, business in Singapore and Malaysia will be as usual reported Channel News Asia. Muji Singapore spokeswoman said that the country’s operations were helped by the Government’s Covid-19 relief measures where S$93 billion were spent.
“We are able to receive rental rebates that could relieve some of our heavier costs temporarily,” the spokeswoman said in response to queries from CNA. The spokesperson assured their corporate and media partners that the business operations in Muji Singapore and Muji Malaysia will be as usual.
As stores reopened post-circuit breaker period, sales have increased to about 60-70% compared to the same period last year. This is following a 2-month of zero sales due to the lockdown measures. Muji’s sees online shopping will be the new normal and has plans to launch its own e-commerce platform.
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