JAPAN: Mujirushi Ryohin Joins Price War
From September casual clothes will be 400 yen cheaper, and women's jeans will sell for 2,500 yen - undercutting arch rival Uniqlo. General merchandise goods and food items will also sell for 15-25 per cent below competitors' prices.
The announcement pre-empts a sharp decline in sales and profits for the six months to the end of August. Apparel sales, which account for around 30 per cent of total sales, are expected to be particularly sluggish. In February, Ryohin Keikaku suffered its first annual drop in profits since 1989.
In addition to price cuts the company plans to revamp existing stores.
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