TOKYO -- Tobu Store's net profit sank 21% on the year to 160 million yen ($1.55 million) for the March-August half, the midscale supermarket operator said Friday, as the company booked 354 million yen in extraordinary losses tied to store impairments.
Sales shrunk slightly to 41.9 billion yen, as bad weather slowed foot traffic and intensified competition with rival stores. Tobu Store strengthened its lineup of prepared foods and organized a major tasting event for its advertised products, but these efforts could not compensate for the losses.
