TOKYO (MNI) – Department store sales in Japan fell only 1.5% from a
year earlier to Y475.0 billion in April, posting the second consecutive
monthly y/y drop but improving from the 14.7% plunge in March, as
rolling power outages in eastern cities were called off a few weeks
after the March 11 disaster, the Japan Department Stores Association
said Thursday.
Retail stores in Tokyo and neighbouring cities were forced to cut
business hours through early April amid rolling blackouts imposed by
Tokyo Electric Power Co, the operator of the Fukushima Daiichi nuclear
power plant whose cooling systems were knocked out by the disaster.
Shopping restraint out of respect for the disaster victims also
eased, the association said.
Pent-up demand and warmer weather conditions supported sales of
spring clothing while one more Saturday in April this year compared with
a year earlier contributed to the smaller sales drop, it said.
The association compiles data from 86 companies running 254
department stores that have been open for at least a year prior to the
survey being conducted. The data are adjusted to facilitate comparisons
on a same-store basis.
In Tokyo, combined sales at 26 department stores totaled Y114.7
billion, down 5.5% on year in April, posting the second straight y/y
drop after -21.5% in March.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
