Ito Yokado to shut Beijing shop

Bricks-and-mortar retailers under growing pressure from e-commerce

Japanese retailer Ito Yokado Co Ltd is to close its Wangjing store in Beijing on April 25, with employees and goods withdrawn on May 15. Industry experts said fewer customers and a less-than-satisfactory performance are to blame for the end of eight years' operation.

The closure of the store in a high-end community of northeastern Beijing is the beginning of a strategy reshuffle for Ito Yokado, which has eight stores in the capital and five in Chengdu.