SINGAPORE: Metro Holdings will stop operating its department stores at Paragon and Causeway Point when the current leases expire, as it intends to progressively move away from the traditional large-format department store format.
In a bourse filing on Monday (Jul 20) night, Metro said the shift follows a “strategic review” of its retail operations as it seeks to better align with evolving consumer preferences, shopping habits and market trends.
The Paragon and Causeway Point outlets are Metro’s last remaining large-format department stores in Singapore.Ā
The company plans to transition in phases from its long-standing department store model to a more flexible retail approach aimed at improving customer engagement, boosting operational efficiency and pursuing new growth opportunities.
“Accordingly, the group will not operate its existing large-format department stores at Metro Paragon and Metro Causeway Point upon the conclusion of the existing lease arrangements for those locations,” the company said.
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