Half of Uniqlo, Muji Stores Being Shut in Virus-Hit China
Tokyo, Feb. 7 (Jiji Press)--Japanese retailers are expanding outlet suspensions in China amid the unfolding coronavirus crisis, with about half of the Uniqlo apparel and Muji household goods stores there being shut.
Fast Retailing Co. <9983> has closed about 370 of its 750 Uniqlo outlets in China, up from about 160 in late January, officials said.
With no prospects for reopening in sight, concerns are mounting over the impact of the crisis on the company's earnings.
At Ryohin Keikaku Co. <7453>, some 140 of its 270 Muji stores in China are being shut.
Most of the stores have been affected by the voluntary closure of the shopping malls and other commercial facilities that house them.
[Copyright The Jiji Press, Ltd.]