TOKYO -- Japanese furniture retailer Nitori Holdings on Tuesday reported a consolidated net profit of 95.1 billion yen ($703.6 million) for the fiscal year ended March, marking the first decline in 24 years as price increases drove customers away from the budget store.
"Declining customer numbers are our biggest problem. We aim to bring them back with low prices," said Masanori Takeda, Nitori Holdings director and general manager of global merchandising, at an earnings conference.
re.jpg?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=394)
.JPG?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
