— Japan Department Store Sales Fall for Second Month In A Row
TOKYO (MNI) – Department store sales in Japan fell 1.2% in June,
the second consecutive monthly drop, held down by bad weather
conditions, data released by the Japan Department Stores Association
showed on Thursday.
The June decrease followed -1.0% in May and +1.3% in April.
Poor weather conditions — including as heavy rain, low
temperatures and a typhoon — kept shoppers away from the stores, the
association said.
But demand for jewelry and other luxury goods remained firm, rising
3.1% on year.
Department store ales for the April-June quarter inched down 0.3%
y/y, compared to +4.0% in January-March, the association said.
The association compiles data from 86 companies running 249
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 0.1% on year
in June, the first fall in four months, after +2.1% in May.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
