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Isetan Singapore warns of 'substantially higher net loss' for FY2019

JAPANESE department store operator Isetan Singapore said on Friday that it expects to report a substantially higher net loss for FY2019 as compared to the previous financial year. 

The higher net loss for the 12 months ended Dec 31, 2019 is mainly attributable to impairment charges relating to property, plant and equipment, and right-of-use assets, the group said in a profit warning.

Isetan will announce its unaudited FY2019 results on or before Feb 29. 

Isetan shares closed flat at S$4.34 on Friday.