Business Apr. 19, 2008 - 04:13AM JST ( 0 )

TOKYO —

Seibu Department Stores Ltd, a unit of Millennium Retailing, said Friday it will spend 30 billion yen to refurbish its flagship outlet in Tokyo’s Ikebukuro district. The investment is aimed mainly at attracting more women customers in their 30s and older. Seibu will also offer lower-priced clothes targeted at young customers.

The department store operator intends to post sales of 200 billion yen at the Ikebukuro outlet for fiscal 2011, up 14.5% from its estimated figure for fiscal 2007, which ended in March.

Seibu will maintain operations at the Ikebukuro store during refurbishment. The work is slated to be completed in 2010. The Ikebukuro store now generates one-third of the company’s overall sales.

JCN