Isetan Singapore warns of second quarter loss

Fashion retailer Isetan (Singapore) warned that it expects to report a loss for the second quarter ended June 30. -- ST PHOTO: NEO XIAOBIN
Fashion retailer Isetan (Singapore) warned that it expects to report a loss for the second quarter ended June 30. -- ST PHOTO: NEO XIAOBIN

SINGAPORE - Fashion retailer Isetan (Singapore) warned that it expects to report a loss for the second quarter ended June 30.

This is partly caused by the challenging situation at the flagship Scotts store where sales have been affected by major renovations undertaken by the owners of Shaw House and the adjoining Shaw Centre.

Upgrading works, which started in phases from late 2012, were only completed recently.

"The start-up nature of the operations of the new store at Jurong East is the other major contributing factor to the expected loss," it added.