Isetan issues 2Q loss warning

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

The fashion retailer said this was partly caused by the challenging situation at the flagship Scotts store where sales have been hit by major renovations undertaken by the owners of Shaw House and the adjoining Shaw Centre.

The renovations, which started in phases from late 2012, were completed only recently.

Isetan added that the start-up nature of the operations of the new store at Jurong East is the other major contributing factor to the expected loss.