TOKYO — Japan’s largest department store operator, Isetan Mitsukoshi Holdings Co. Ltd., issued another profit warning for the year ending March 31 amidst a protracted slump in consumer spending.
The company now sees its full-year net profits coming in at 11 billion yen, or $122.9 million at average exchange, more than 59 percent lower than its most recent projection last fall. Sales are coming in at 1.4 trillion yen, or $15.87 billion, down 5 percent from the earlier forecast.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"