Far Eastern Department Stores holds its 2025 shareholders' meeting

        Far Eastern Department Stores held its shareholders' meeting on May 20th. In 2024, the department store retail market continued to grow, and Far Eastern Department Stores also showed vitality, opening modern and fashionable shopping malls one after another. The fourth generation City series department stores showed obvious transformation effects, driving stable growth in revenue and profits. Far Eastern Department Stores Retail Group's consolidated revenue for 2024 is NTD 132 billion, with earnings per share of NTD 1.65 and cash dividends per share of NTD 1.35, maintaining a high cash dividend yield. As Far Eastern Group Garden City gradually operates, it drives the overall revenue growth of FE SOGO Department stores. A.Mart and City'ssuper continue to enhance the uniqueness of their products, increase the diversity of their stores, and strengthen the development of e-commerce by adjusting their operating models to increase profits. Adhering to an innovative and transformational business model, Far Eastern Department Stores has achieved an average annual growth rate of 6.8% in individual revenue and 9% in operating profit over the past 15 years. Its outstanding performance has made it the best investment target for investors and shareholders.

        Business strategy: Enhance customer experience and create experiential department stores

        Faced with the rise of e-commerce and changing customer expectations, Far Eastern Department Stores has adjusted its business strategy to quickly keep up with environmental changes. In view of the increasing number of consumers who only go to physical shopping malls to enjoy more experiences after receiving notification messages, Far Eastern Department Stores takes "enhancing customer experience" as its main strategy, making good use of AI for data analysis, transmitting the right information to the right people through the right channels at the right time, and providing customized services to consumers. In 2024, nearly 4 million messages will be broadcasted to customers, and the store will actively create an experiential department store, bringing consumers a refreshing feeling through rich interaction and product adjustment.

        Operation outlook: Far Eastern Group Garden City gradually opens, accelerating the expansion of multiple stores in the future

        Far Eastern Department Stores continues to expand its retail presence, currently covering 45 locations, making it an international large-scale retail group. In the future, it will accelerate talent cultivation and store layout to create growth momentum. The Taipei Baoqing store has undergone original site reconstruction and invited international level masters to create a new generation of high-quality green department stores. It also plans to add a new base in the TPARK Technology Park in New Taipei, adjacent to Far Eastern Memorial Hospital and high-end residential areas, with promising development potential. Far Eastern Group Garden City is the largest shopping mall in downtown Taipei, combining catering, cultural and creative industries, and international events. Since its operation, its performance has exceeded expectations, and it has the opportunity to become the youngest, most fashionable, and distinctive experiential mall in the eastern district of Taipei.

        Sustainable ESG: Received 32 awards and won the National Model Award for Retail Enterprises (Country Awards)

        Far Eastern Department Stores keeps pace with the times, innovates and grows, pursuing profitability while also bringing positive benefits to the environment and society, demonstrating the importance of corporate social responsibility. In 2024, the ESG performance was outstanding, not only winning 32 awards at home and abroad, but also receiving the "National Model of Retail Enterprises" award from the Asia Pacific Retail Alliance (FAPRA). This is the only department store in Taiwan to win both the "National Model of Retail Enterprises" and "Best Corporate Social Responsibility" championship awards from the Asia Pacific Retail Alliance after winning the "Best Corporate Social Responsibility" award in 2019, creating a sustainable benchmark for department stores.

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