Grandbuy(SZ:002187) 3 6 Ke·2025-06-25 02:31Group 1 - The core issue facing traditional department stores is their decline, exemplified by the recent withdrawal of Guangbai Department Store from its East Mountain location while negotiating a lease extension for its Tianhe Zhongyi store [1][10] - Guangbai Tianhe Zhongyi store, which has been operational for nearly 20 years, initially planned to vacate by June 30 due to rising rents but has since managed to negotiate a rent reduction and extend its lease [2][4] - In contrast, Guangbai East Mountain store has officially closed, with all branding removed and plans for redevelopment into "East Mountain Future" by the property owner [5][6] Group 2 - The struggles of Guangbai reflect broader challenges in the department store sector, which is facing competition from e-commerce and a shift towards more experiential and diversified retail formats [11][10] - Guangbai has previously invested 58.17 million yuan in renovations to adapt to market demands, including introducing experiential elements like gaming and dining options [12][10] - The East Mountain store's closure signifies a shift away from traditional department store models, as the new development will focus on a mixed-use approach that includes shopping, dining, and entertainment [9][10] Group 3 - Guangbai's Beijing Road store has successfully transitioned into a modern retail space, showcasing the potential for department stores to adapt and thrive by integrating dining and entertainment [14] - The parent company, Guangzhou Lingnan Tourism Investment Group, is actively pursuing new projects, including a significant investment in a commercial property that will move away from traditional department store formats [15][14] - The transformation of Guangbai and its parent company serves as a case study for the retail industry, illustrating the need for adaptation and innovation in response to changing consumer preferences [16][10]