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With landlord abatements now coming to an end, some retailers are also reporting rental increases of around 5 per cent for specialtystores and 4 per cent for large store chains. Additionally, the wage increases established by the Fair Work Commission as of July 1 are affecting retailer operations and costs.
By 2021, off-price retailers are anticipated to experience apparel revenue growth of 6% to 8%, exceeding the broader apparel segment by a collective 4%. As specialtystores and traditional retailers continue to decline, discount chains are experiencing growth by capitalizing on inevitable excess inventory.
Aside from Tachikawa, the Shinjuku store has experienced the strongest growth (+30.4 per cent in December) and the Nihombashi flagship store (+12.4 The new specialtystore space will be leased with the aim of attracting customer segments that don’t currently shop at the department store itself. per cent, after +9.2
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