TOKYO (MNI) – Department store sales in Japan were hit by record
snowfalls in some regions in January, slipping 1.1% on year and giving
up a 0.8% rise in December, data released by the Japan Department Stores
Association showed on Monday.
The association said the January decrease was caused by heavy
snowfalls that hampered shopping in some areas while strong demand for
winter clothing had led the first year-on-year increase in six months in
December.
There are some bright spots including continued solid sales of
luxury goods, 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 fell 3.1% y/y in
January, posting the first drop in two months, after +0.3% in December.
tokyo@marketnews.com
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