TOKYO (MNI) – Department store sales in Japan fell 0.1% to Y600.6
billion in July, posting the first year-on-year fall in two months, as
bad weather in the second half of the month dampened seasonal demand,
the Japan Department Store Association said Thursday.
The slight drop in July sales followed +0.3% in June, which was the
first y/y rise in four months after -2.4% in May, -1.5% in April, -14.7%
in March and +0.7% in February.
In the first half of July, heat waves boosted sales of casual
business clothing as well as bedding and pajamas that help cool off body
temperatures, the association said.
But the heavy rain dumped by a powerful typhoon and an ensuing
plunge in temperatures, although temporarily, hurt sales in the second
half of the month, it said.
Meanwhile, sales of luxury items such as jewelry showed growth y/y,
as consumer sentiment had improved from the aftermath of the March
earthquake disaster.
The Consumer Confidence Survey index improved for a third straight
month in July, rising to 37.0 from 35.3 in June.
The association compiles data from 86 companies running 255
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 1.3% y/y in
July, also posting the first drop in two months.
tokyo@marketnews.com
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