Japan retailer Ito-Yokado plans China revamp amid headwinds

Seven & i unit to shut malls and open a general store in Chengdu

20241204N Ito-Yokado in Chengdu

Ito-Yokado operates nine malls in China's Sichuan province, mainly in Chengdu. (Ito-Yokado)

SHUNSUKE TABETA, Nikkei staff writer

CHONGQING -- Japanese retailer Ito-Yokado is reshaping operations in China as it grapples with sluggish consumer spending and greater competition from online rivals, Nikkei has learned.

Ito-Yokado, a unit of 7-Eleven operator Seven & i Holdings, looks to close a mall in the southwestern city of Chengdu around the first quarter of 2025, a source familiar with the matter said. Some tenants apparently have been notified already.

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