Revenue fell 3% to $66.5 million from $68.6 million a year ago.
This was due to the group’s retail segment registering lower sales due to weaker consumer sentiments.
The group’s total expenses also decreased 5.4% to $69.5 million from $73.5 million in 2Q16.
As at end June, the group’s cash and cash equivalents stood at $54.8 million.
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In its outlook, Isetan says that growth remains uneven and coupled with the weak labour market conditions, it does not expect significant uplift in consumer sentiment.
Hence, the retail sector is expected to remain highly competitive and challenging.
Shares in Isetan closed 10 cents lower at $4.15 on Monday.
