| In 2005, due to the implementation of new labor pension system by the government and price hikes, department stores had a rather difficult time in their management. Even Shin Kong Mitsukoshi, the industry leader, had to resort to the initiative of giving free coupons at year end in order to stimulate sales.
New department-store outlets which opened in 2005 include the A4 Hall of Shin Kong Matsushita in the Hsinyi district of Taipe and Chungho Universal Shopping Center of Kindom Construction. The four leading chain department stores, Shin Kong Mitsukoshi, Pacific Sogo, Far Eastern, and IDEE Fashion Concept Store, racked up total after-tax revenue of NT$120.5 billion in 2005.
Large-scale shopping centers staged mixed performance. TaiMall Shopping Center began to make profits in the sixth year of its operation, while Windance Shopping center saw the eruption of massive amount of bounced checks in August 2005, due to the deferred delivery of syndicated loans. |
